FM hints at cutting revenue deficit to below 2.6%

New Delhi, Aug 2 | Updated: Aug 3 2005, 05:30am hrs
The government has hinted at cutting revenue deficits to less than 2.6% of GDP in 2005-06 by toning up tax administration and expenditure control. The quarterly review report, tabled by finance minister P Chidambaram in Parliament on Tuesday, also said the economy demonstrated considerable resilience despite the concerns arising out of high and volatile global oil prices.

Bhel disinvestment

The government has sought to justify the proposal of 10% disinvestment in Bhel with finance minister P Chidambaram telling the Lok Sabha that it was good economics.

Task force on medicines

Rejecting as incorrect a contention by some members that there has been a sudden rise in drug prices, government told the House that a task force has been constituted to explore options other than price control for making available life saving drugs to the common man.

Metro for Noida

The Centre is holding consultations with Uttar Pradesh and Haryana to explore the possibility of connecting Noida and Gurgaon by the Delhi Metro, the House was informed.

Draft law to revamp KVIC

The government is finalising a draft legislation to suitably amend the Khadi and Village Industries Commission Act 1956, the House was informed on Tuesday.