◆‘UPA leaving economy in worst crisis; if voted to power， BJP will fast-track DTC， GST'
【New Delhi】Bharatiya Janata Party (BJP) leader Yashwant Sinha attacked UPA for leaving the economy in the "worst" crisis" and said it was committed to a simplified tax regime and will, if voted to power, try to hasten implementation of Direct Tax Code and Goods and Services Tax after a consensus among states.
He said the new government would need to rein in food inflation at the earliest and offered a solution. The government that would be sworn in after the elections, he said, would do well to adopt the strategy that he as the finance minister of the National Democratic Alliance (NDA) government pursued in the drought year of 2002-03: Liberally release stocks of foodgrain.
○Poll code helps FM better fiscal deficit target
【New Delhi】When P Chidambaram passes on the reins of the finance ministry to his successor, he might do so with the government's fiscal deficit for 2013-14 at 4.5 per cent of gross domestic product (GDP), lower than his revised estimate of 4.6 per cent, thanks to the Election Commission's code of conduct for the Lok Sabha elections.
As the code of conduct came into force on March 5, many ministries were unable to use the funds allocated to them, resulting in much-needed savings for the government. The cut in expenditure not only made up for a shortfall of about Rs 6,000 crore in total revenue, but also left the exchequer with enough funds to cut the fiscal deficit further.
○Gas price issue: Poll panel spikes Moily's attempt to raise rate
【New Delhi】The Election Commission of India has turned down Petroleum Minister Veerappa Moily's proposal to increase natural gas prices before the model code of conduct ends on May 16.
On May 1, Moily had asked the poll panel to reconsider its decision to defer the raise, which was to come from April 1. "The minister felt if the price was raised after election results were out on May 16, it would be left to the officials to take a call. So, it was better that a decision was taken earlier. However, the poll panel has rejected it," confirmed an official close to the development.
【News source】
Economy in "worst crisis": Yashwant Sinha
‘UPA leaving economy in worst crisis; if voted to power, BJP will fast-track DTC, GST’
Attack food inflation, Sinha's tip to new govt
Poll code helps FM better fiscal deficit target
Gas price issue: Poll panel spikes Moily's attempt to raise rate
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