Are you committed to continued liberalisation of the industrial and services sector?
Everybody says theres not even a whiff of liberalisation for the industry or the services in the Budget. I dont agree. Read the sections on banking, insurance, capital market, innovative financing for infrastructure. Secondly, if the farm sector grows, the direct beneficiary is the industry and services sector. Mr Chidambaram, your Budget numbers seem to assume slower economic growth next year. The nominal GDP growth is about 13 per cent. Thats not slow. Please remember, Budgets are based on BE (Budget Estimates) to BE. What happens during the year could be a one-off, could be because of certain unanticipated developments. But year after year, Budgets are made on BE to BE. And BE to BE, we have assumed a 13 per cent growth rate. If you are not assuming slower growth, why is tax revenue growth slowing? BE to BE, theres tax growth of 20 per cent. You are looking at RE (Revised Estimates) to BE. Thats not the way to look at the figures. The way to look at the figures is from BE to BE. Wit
