Financial Daily from THE HINDU group of publications
Wednesday, May 26, 2004
Financial Daily from THE HINDU group of publications Wednesday, May 26, 2004 |
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Opinion
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Letters Effective measures
This is with reference to "Chidambaram bets on reforms" (Business Line, May 25). One of the challenging tasks for the new government is fiscal consolidation. Unlike the NDA Government, the United Progressive Alliance (UPA) has assured not to disinvest profit-making public sector undertakings. Though it is welcome, reduction of the revenue deficit as scheduled in the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 will be more difficult. However, the commitment of the Finance Minister Mr P. Chidambaram to honour the fiscal consolidation target set out in the FRBM Act is promising. Given that the Budget is going to be placed before Parliament only in July, the new Government can take effective steps to ensure effective implementation of provisions of the FRBM Act by drawing a clear roadmap for fiscal sustainability. C. Ramesh Keeramangalam (TN) Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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