New Delhi, August 3
Union Finance Minister Jaswant Singh today hinted at more tax reforms and exemptions, stating that the objective of the government was to make the tax system people-friendly but at the same time ensuring high rate of growth of the economy.
“We will endeavour to make the tax system people-oriented while ensuring that at the same time the rate of growth is not reduced”, he said while speaking at the BJP National Council meeting here today.
Without actually saying so the Finance Minister in apparent reference to the exemption limit said, “it will be increased as and when it is possible”. The government, he said, was taking a relook at some aspects of the Budget even as he maintained that it was not correct to bring “fundamental changes” in the measures announced in the Budget.
He refuted the observation made by the Congress that his predecessor Yashwant Sinha had failed in managing the economy prudently and therefore was removed.
On the current drought situation in the country, he assured that the government would ensure that no shortage of funds or foodgrains took place. However, of the 50,000 tonnes of foodgrains being allotted so far, only 30,000 has been lifted as of now and a strictly centralised system was unlikely to succeed in efficient food management in a situation of drought.
