FM to take initiatives to reduce impact of hiking energy prices
Published on Tue, Mar 22, 2011 at 13:36 | Source : CNBC-TV18
Updated at Tue, Mar 22, 2011 at 13:41
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FM to take initiatives to reduce impact of hiking energy prices
Finance Minister Pranab Mukherjee said that he is watching West Asia situations closely in order to take apt steps with an aim to keep a track on hiking energy prices.
Energy commodity prices have boosted to a greater-than-expected level on the back of the crisis developed in regions like Japan and West Asia. Markets across the globe are trying hard to rule out the impact of the commodity hike in a bid to reduce volatility. India's story is no different.
Reacting on the concerns raised by these disturbing events, Finance Minister Pranab Mukherjee said that he is watching West Asia situations closely in order to take apt steps with an aim to keep a track on hiking energy prices.
Besides these initiatives, he said, he has opted for significant fiscal consolidation in FY12. He will also address issues with respect to the tax proposals in FY12 to enhance abatement for garments to 55% from 40% and withdraw tax on healthcare services.
"The Pension Fund Regulatory and Development Authority (PFRDA) Bill will be introduced in coming days," he added.
