Parliament gave its seal of approval to the Finance Bill 2011 with the Rajya Sabha returning it after a four-hour discussion. With this the curtain on budgetary exercise has come down.Replying to the discussion, the Finance Minister expressed confidence that the country will attain a 9 per cent GDP growth in the next fiscal. This, he said, will be possible provided the present trend of domestic savings continues moving upwards with inflation under control.Mr Pranab Mukherjee asserted that all possible measures will be taken for fiscal consolidation.Underlining his optimism for a sustained growth, Mr Mukherjee cited the success of the Central flagship programme — Mahatma Gandhi National Rural Employment Guarantee Act, saying this programme has generated jobs on a massive scale in rural areas of the country.But, at the same time, he cautioned about the possible repercussions on the world economy following tsunami and earthquake in Japan and the growing political uncertainty in West Asia.
News On AIR | March 25, 2011 8:58 AM
Parliament approves Finance Bill 2011