Government takes Measures to Rationalise Expenditure
The Union Finance Minister Shri P Chidambaram called the policy
decisions of the Central Government to correct some prices and review of
certain tax policies as “a dose of bitter medicine”. Presenting the General
Budget 2013-14 in Lok Sabha today, Shri Chidambaram said, faced with a huge
fiscal deficit, the Government had no choice but to rationalize expenditure. He
said that the Government took some policy decisions that had been deferred for
too long and undertook a review of certain tax policies.
The Finance Minister stated that in the Budget for 2012-13, the estimate of Plan Expenditure was too ambitious and the estimate of non-Plan Expenditure was too conservative. He said that the Government retrieved some economic space and used that economic space to advance Government’s socio economic objectives.
The Finance Minister stated that in the Budget for 2012-13, the estimate of Plan Expenditure was too ambitious and the estimate of non-Plan Expenditure was too conservative. He said that the Government retrieved some economic space and used that economic space to advance Government’s socio economic objectives.
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