Debating India

Jaswant Singh woos middle class, farmers

Tuesday 3 February 2004

Article paru dans le Time of India, ?dition en ligne du 3 f?vrier 2004.

NEW DELHI: Election-bound Finance Minister Jaswant Singh painted a rosy picture of the economy on Tuesday as he presented the Interim Budget in the Lok Sabha. He did not change the tax structure, but promised that standard deduction rates would be revisited.

Singh said the growth figures in the current year are encouraging. GDP growth is expected to be 7.5 to 8 per cent in the current fiscal year, the Finance Minister said. This level of growth is matter of great satisfaction, Singh said.

Declining interest and buoyant Stock Exchange have set the economy moving.

Belying expectations, Finance Minister Jaswant Singh proposed no changes in the income tax structure in the Interim Budget 2004-05.

"Some necessary changes in the income tax procedures require the amendment of the Income Tax Act," he said.

Singh said it was Government’s conviction and also a commitment that fiscal benefits available to new projects in the power sector should be extended upto 2012 instead of 2006 and fiscal benefits should also be available to cases of take-over from state electricity boards.

Outlining the mid-term perspectives on the direct tax front, the Finance Minister said the regime of listed equities on or after March 1, 2003 being exempt from long-term capital gains tax should be extended for a further period of three years.

Under the Prime Minister’s Swastha Suraksha Yojana six hospitals — one each in Andhra Pradesh, J&K, Tamil Nadu, West Bengal, Jharkhand and Uttaranchal — will be upgraded to the level of the All India Institute of Medical Sciences, Singh said.

SPIP | template | | Site Map | Follow-up of the site's activity RSS 2.0