Finance Minister P. Chidambaram has expressed confidence that the government will meet 30,000 crore rupees disinvestment target for this fiscal. Talking to reporters in New Delhi yesterday, he said that raising adequate funds from disinvestment is necessary to keep in check the fiscal deficit, which is facing pressure due to rising food, fuel and fertiliser subsidy bills. He made it clear that government will take steps to improve fiscal consolidation and reduce fiscal deficit. Mr. Chidambaram expressed concerns over delay in clearing big investment projects and said steps will be taken to fast track all of them. Chidambaram said between now and October 30, Department of Revenue, Disinvestment and SEBI would decide on steps to revitalise economy. Indicating unleashing of more measures to boost economy, Finance Minister ruled out rolling back decisions on diesel, LPG and FDI in retail and expressed confidence that the government faces no threat from allies either inside or outside.During the hour-long interaction, he touched on various issues including Vodafone tax issue, GST, Direct Taxes Code and fiscal consolidation. He that said government does not frame policy to appease credit rating agencies. Asked about stiff opposition to the decisions from UPA constituents like Trinamool and outside he said that they will understand and continue their support to the government.
News On AIR | September 18, 2012 12:26 PM
Fin Min confident about meeting Rs30,000cr disinvestment target; says steps to revitalize economy soon