Budget measures will help in 6.5 pc economic growth: Rangarajan
On Wednesday, the pre-Budget Economic Survey had projected an optimistic 6.1 to 6.7 pc growth in 2013-14.
New Delhi: Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan on Thursday said all the measures proposed in the Budget for 2013-14 taken together will help the country register a growth of 6.5 per cent in the next fiscal year.
"I welcome the budget...I believe that all of this measures (budget initiatives) taken together will give us a growth rate of 6.5 per cent next fiscal year," Rangarajan told PTI.
On Wednesday, the government's pre-Budget Economic Survey had projected an optimistic 6.1 to 6.7 per cent growth in the next fiscal (2013-14) and had made a strong call for cutting subsidises.
Finance Minister P Chidambaram in his Budget speech said the fiscal deficit for the current financial year has been contained at 5.2 per cent of GDP, lower than 5.3 per cent as was targeted.
Complimenting Chidambaram for his fiscal consolidation efforts, Rangarajan expressed hope that his budget proposals would stimulate investments. "The Finance Minister has preserved with fiscal consolidation by showing the fiscal deficit for the next fiscal will be at 4.8 per cent...He has also proposed measures to stimulate investment, the most important of which is investment allowance," he said.
- After Rita Bahuguna Joshi's Exit, More Congress Veterans Eye BJP
- Hillary Clinton, Trump Spending Furiously as Election Day Approaches
- Donald Trump's Campaign Says Raised $9 mn Through Live Facebook Event
- New Trump Accuser Said He Groped Her at 1998 Tennis Event
- Jack Reacher: Never Go Back Review: Lacks Suspense, High-Adrenaline Thrills
- 'Jack Reacher: Never Go Back' Review: The Film is Dull and Predictable
- Watch: Kapil Sharma Leaves ADHM Cast in Splits
- Ranbir Kapoor, Aishwarya Rai's Scorching Chemistry Will Make Your Jaws Drop
From Our Network
- AAP in new packaging: Is Swaraj India cloning old party by targeting Varun Gandhi?- FirstPost
- Senior SP leaders to mediate between Akhilesh Yadav and Mulayam Singh to resolve contentious issues - Pradesh18
- Did MLA Satyadev Katare die due to Assembly's 'bad vastu', asks Kailash Vijayvargiya - Pradesh18