Financial Daily from THE HINDU group of publications
Wednesday, Apr 21, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 21, 2004 |
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Economy Industry & Economy - Economy Inflation to remain `below 5 per cent' Our Bureau
New Delhi , April 20 INFLATION should remain below 5 per cent during 2004-05, the Chief Economic Advisor, Ministry of Finance, Dr Ashok Lahiri, has said. "India is a very inflation-averse economy. I will be surprised if inflation is above 5 per cent in 2004-05. It should remain below 5 per cent," Dr Lahiri said at a press conference organised to disclose the revenue collection figures for 2003-04. The Finance Ministry does not have any immediate plans for changes in income-tax concession available to information technology companies, officials said. The officials said this in the backdrop of the recent dispute between the tax authorities and Wipro over differing perception on the tax holiday available under Section 10A of the I-T Act. "The matter is at the appeal level before a quasi-judicial body (the Commissioner (Appeal)). If later we find there are some grey areas we will look into them," said the Revenue Secretary, Ms Vineeta Rai.
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