‘We are not doing anything unfriendly to the foreign investor’
I think the numbers are credible. The fuel subsidy bill is likely to be smaller as we are correcting diesel price. We have also capped LPG number per household. So there is every reason to believe that fuel subsidy is going to be lower this year. For food subsidy, we have made our calculations and normal food subsidy is expected to be Rs 80,000 crore. An additional provision has been made for the Food Security Act of Rs 10,000 crore. But if it requires more money, we will provide it. That is a question required to be addressed when the Food Security Act is passed. Since, I don’t have a Bill before me, I can’t really say what the figures will be. But as I speak to you, I think we have made a correct assessment of subsidy bill. As far as tax revenues are concerned, when the economy is growing at 5 per cent in the current fiscal, tax revenues are growing at 16.7 per cent. Next year, if the economy grows at 6.1-6. 7 per cent, there is no reason to assume that tax revenues will not grow at a higher rate. The extra revenue will hopefully come from additional resource mobilisation. We have stated upfront that in direct and indirect taxes side we will get about Rs 18,000 crore of revenue which forms an overall growth of
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