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Home: Economists urge Mukherjee to use Budget to restore investor confidence

Economists urge Mukherjee to use Budget to restore investor confidence

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NetIndian News Network
New Delhi, February 1, 2012
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Leading economists today suggested to Finance Minister Pranab Mukherjee that the primary task of this year's Union Budget should be to restore a sense of confidence in India's growth story among both domestic and foreign investors.
 
At the annual pre-Budget consultations held by the Finance Minister, they urged Mukherjee to make this year's Budget a "Policy Budget" rather than only a statement of accounts.
 
Some of the economists felt that the message of fiscal consolidation should also be sent through the Budget. They suggested that expenditure on populist measures be reduced and the leakages of funds in implementing them be curbed. 
 
In this regard, they suggested decontrol of diesel prices, higher excise duty on diesel cars and use of cash transfer system to distribute subsidies directly to the beneficiaries, among others. 

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