More petrol, power, LPG price hikes coming soon, says PM at National Development Council to boost 12th Five Year Plan

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Prime Minister Manmohan Singh speaks at the meeting of the 57th National Development Council (NDC) in New Delhi. (Reuters) Prime Minister Manmohan Singh speaks at the meeting of the 57th National Development Council (NDC) in New Delhi. (Reuters)
SummaryManmohan Singh says tougher times are coming for people, which may hit their wallets harder.

was a need to increase the tax ratio as a percent of GDP through combination of tax reforms and better tax administration.

"Early implementation of the GST is critical in this context. I hope we will have the co-operation of the States to introduce the GST as quickly as possible," he said.

Singh said growth rate of many states have improved in the recent years. "The average growth rate of the five poorest states exceeds the national average for the first time in any Plan. I think we may be reaching the stage when the term BIMARU states can be relegated to history," he added.

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