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He said supply side constraints would be removed to achieve price stability and existing food stocks would be used to moderate prices. Chidambaram said that imports would be increased to deal with shortages. He said that his Ministry would work with the Reserve Bank of India to moderate inflation in medium term and take action to ease interest burden on consumers.
The Finance Minister said taxation in IT sector would be reviewed.
Stressing the need to focus on large projects as well as infrastructure projects, the Minister said an Investment-Tracking System for projects with an outlay of a thousand crore or more had been put in place. Proposals pending with the Foreign Investment Promotion Board (FIPB) will be processed and decisions will be taken expeditiously.
The Government intends to raise the level of investment to 30 per cent of Gross Domestic Product and fine-tune policies and procedures to facilitate capital flows, Chidambaram added. He sought support of political parties for the passage of Bills tabled by his Ministry in the House and announced to work with manufacturers and exporters to boost growth. For this he said, the Government would implement appropriate measures, apart from seeking expert advice on fiscal consolidation.
Chidambaram said a roadmap to boost investments and economy by fine-tuning policies would be put in place soon. He said steps would be taken to attract more people to invest in mutual funds, insurance policies and others.
Expressing concern over the weak south west monsoon, the Finance Minister said the Mahatma Gandhi National Rural Employment Gauruntee Act (MGNREGA) and other schemes would be converged to meet the challenge of drought.
The Finance Minister said taxation in IT sector would be reviewed.
Stressing the need to focus on large projects as well as infrastructure projects, the Minister said an Investment-Tracking System for projects with an outlay of a thousand crore or more had been put in place. Proposals pending with the Foreign Investment Promotion Board (FIPB) will be processed and decisions will be taken expeditiously.
The Government intends to raise the level of investment to 30 per cent of Gross Domestic Product and fine-tune policies and procedures to facilitate capital flows, Chidambaram added. He sought support of political parties for the passage of Bills tabled by his Ministry in the House and announced to work with manufacturers and exporters to boost growth. For this he said, the Government would implement appropriate measures, apart from seeking expert advice on fiscal consolidation.
Chidambaram said a roadmap to boost investments and economy by fine-tuning policies would be put in place soon. He said steps would be taken to attract more people to invest in mutual funds, insurance policies and others.
Expressing concern over the weak south west monsoon, the Finance Minister said the Mahatma Gandhi National Rural Employment Gauruntee Act (MGNREGA) and other schemes would be converged to meet the challenge of drought.
Labels: drought, FIPB, investment Tracking System, MGNERGA
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