PM's panel makes case for partial roll back of stimulus -Governance Now

PM's panel makes case for partial roll back of stimulus

By raising excise duties and reducing expenditure

PTI | February 19, 2010

C Rangarajan, chairman of Prime Minister`s Economic Advisory Council

Ahead of the budget, Prime Minister's Economic Advisory Council (PMEAC) today made a case for a partial roll back of stimulus by way of raising excise duties and reducing expenditure - which would automatically help reduce the fiscal deficit.

"There is a case for adjustment of duties...adjustments are possible both on the revenue side and the expenditure side in order to bring down fiscal deficit," PMEAC chairman C Rangarajan told reporters after releasing the Review of the Economy 2009-10.

The Review said the economy would grow by over 7.2 percent during the current fiscal and exceed 8 percent in the next.

PMEAC member Govinda Rao said, "Partially, we need to roll back and if you partially roll back, you need to unify (excise duty and service tax rates).

Comments

Other News

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2

When Nandini Satpathy told Biju Patnaik: ‘I’ll sit on the chair you are sitting on’

Nandini Satpathy: The Iron Lady of Orissa By Pallavi Rebbapragada Simon and Schuster India, 321 pages, Rs 765

Elections 2024: 1,351 candidates in fray for Phase 3

As many as 1,351 candidates from 12 states /UTs are contesting elections in Phase 3 of Lok Sabha Elections 2024. The number includes eight contesting candidates for the adjourned poll in 29-Betul (ST) PC of Madhya Pradesh. Additionally, one candidate from Surat PC in Gujarat has been elected unopp