Mukherjee to state finance ministers: Find ways to bring economy on higher growth path
11 Jun 2009, 1557 Hrs

Add comment          Mail          Print          Write to Editor

New Delhi, June 11 Union Finance Minister Pranab Mukherjee today appealed to find ways to bring the economy on the higher growth path without increasing fiscal deficit.

Addressing a conference of state finance ministers as part of a pre-budget here, Mukherjee said the Central Government would focus on infrastructure, agriculture and employment generating sectors to promote growth and protect jobs.

"The stimulus measures by the Central Government had a cost in terms of deterioration of Centre's fiscal deficit which went up to 6.2 per cent of GDP in 2008/09 and high levels of fiscal deficit are not sustainable in the medium to long term," he added.

He said that it was necessary to deliberate on ways and means to bring back the economy to higher growth trajectory without fiscal profligacy.sking state finance ministers to resolve pending issues expeditiously, Mukherjee said introducing Goods and Services Tax (GST) is critical for economic reforms.

"We also need to focus on the introduction of GST from 1st April, 2010.This is a critical part of our economic reforms," he added.

Calling upon states to focus on "Aam Aadmi", Mukherjee said, "We have to ensure that the growth process is not only accelerated but also made inclusive ... We need to give full attention to sectors like infrastructure, agriculture and employment generation."

The government presented an interim budget for the 2009/10 (April/March) in February. (ANI)

Related Latest

India to get state of the art surveillance gear as part of counter-terror cooperation with US White House prepares for first state visit by Manmohan Singh Extinction rates higher in open-ocean settings during mass wipeouts Leaving Iraq would bring 53bn dlrs reconstruction back to square one, fears America Honeywell bets on India for growth opportunities No 'big ticket' agreements on table during PM's state visit to US Tell Pakistan not to use terror as state policy: Manmohan Singh to US Log on to find details of missing children UNICEF State of The World's Children report commemorates 20 years of Convention on Rights of the Child Malaysian state Penang looking to explore untapped Indian market

Related Latest

India Govt. willing to give safe passage to ULFA leaders Baruah, Arabinda Rajkhowa China told no guardianship role will be appreciated Indian Government says it has a plan to deal with Maoist violence India to get state of the art surveillance gear as part of counter-terror cooperation with US US-India civil nuclear deal in final stages of completion US to give crucial information on Headley-Rana accomplice's 26/11 role to India Restoration of Mughal road in J-K heads towards completion China wants a Chinese version of Tibetan Buddhism, says Dalai Lama Cultural heritage of Manipur showcased in Sikkim Green Park stadium's scoreboard, the only manually operated scoreboard in India

• China told no guardianship role will be appreciated
• Indian Government says it has a plan to deal with Maoist violence
• US-India civil nuclear deal in final stages of completion
• India Govt. willing to give safe passage to ULFA leaders Baruah, Arabinda Rajkhowa
• India to get state of the art surveillance gear as part of counter-terror cooperation with US

• भारतीय क्रिकेट की मजबूत दीवार
• कंगारूओं के आगे ढेर, चीतों से कैसे मुकाबला करेंगें शेर
• Reducing greenhouse gases may not be enough to slow global warming
• बीकानेर महापौर चुनावः एक विश्लेषण
• Deepawali: The Festival Of Lights