Business Daily from THE HINDU group of publications
Tuesday, May 01, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, May 01, 2007 ePaper |
|
|
|
|
|
|
|
Industry & Economy
-
Budget Inflation worries dominate debate on Finance Bill Our Bureau
New Delhi April 30 The Government came under attack in the Lok Sabha from both the ruling coalition and opposition members over its inability to tackle inflation and provide a solution to the aam admi's problems on price rise in the economy. In the debate on the Finance Bill 2007 today, members, cutting across party lines, sought to know from the Union Finance Minister, Mr P. Chidambaram, the concrete steps that he proposes to take to tame inflation in the coming days. Raising a voice against the spiralling prices of essential commodities, a number of members suggested to the Finance Minister that the exemption limit on income-tax be raised for salaried taxpayers and senior citizens. It was pointed out that the exemption limits proposed in Finance Bill were inadequate under the prevailing situation. Some of them even recommended that the Government should restore standard deduction for salaried taxpayers. "In the backdrop of prevailing inflation, the income-tax exemption limit must be raised to Rs 2 lakh for senior citizens and Rs 1,75,000 for women," said Mr Roopchand Pal of CPI(M). Some members held that the benefits of economic growth were not reaching the poor and that the Government was having a soft approach towards corporate houses. "The Government should understand the situation on the ground. Don't link the problem of the poor with sensex," a member said.
More Stories on : Budget | Economy
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|