merisarkar news service
New Delhi, February 26, 2010
Good Budget: Dr. Manmohan Singh
Prime Minister Dr. Manmohan Singh has this year's budget as "exceedingly good". Dr. Singh said that the Budget would help the country's economy to return to nine per cent growth path.
He also tried to allay the fears that an increase in excise tax will have cascading effect on the inflation.
"A job well done," observed Prime Minister Dr. Manmohan Singh.
"You must look at the total picture emerging from the budget. The net revenue gain for the Finance Minister is only Rs 20,000 crore. In an economy as large as India, this resource mobilisation effort and balance should not trigger any inflationary expectation. At the same time it gives the muscle needed.
"The Finance Minister has not called back to the pre stimulus excise duty rate," he said.
