July 8, 2014 12:49 PM

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FM: Govt to take all measures to contain fiscal deficit

Finance Minister Arun Jaitley has said the Government will take all measures to contain fiscal deficit by adopting judicious mix ofcurtailing expenditure and improving revenue collections. Replying to a question during the Question Hour in the Rajya Sabha today, he said the uncollected taxes accumulated to over 10 lakh crores in the past three years and efforts are on to collect those dues to reduce the fiscal deficit. However he said all those who are legitimate to receive tax relaxations will continue to get the facility. Mr Jaitley further said the fiscal deficit has to be maintained at an acceptable level by taking fiscal prudence measures. Replying to another question, the Minister has said the government will consider a mechanism to be put in place to scrutiny the expenditure of companies under the Corporate Social Responsibility (CSR). Stating that the CSR was enacted only last year, he said the regulatory, Corporate Affairs will look into the issue.

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