Inflation, growth likely thrust areas of budget 2011: Srcs
Published on Fri, Jan 21, 2011 at 22:12 | Source : CNBC-TV18
Updated at Tue, Feb 01, 2011 at 16:12
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Inflation, growth likely thrust areas of budget 2011: Srcs
The Finance Minister convened the second meeting of the Financial Stability And Development Council, or FSDC in the capital today to seek inputs on budget.
The Finance Minister convened the second meeting of the Financial Stability And Development Council, or FSDC in the capital today to seek inputs on budget.
The meeting was attended by the RBI governor and chairmen of SEBI, IRDA and PFRDA. RBI governor D Subbarao has asked the Finance Minister to take steps in the budget to shore up manufacturing growth. The recent IIP data has pointed to weakening of the manufacturing growth.
As per sources, inflation and growth may be the thrust areas of Budget 2011. Also, steps for fiscal consolidation are likely to be taken this time. There may be also a re-look at the investment norms for mutual funds. Market regulator SEBI felt corporates park too much money in MFs.
The PFRDA chief Yogesh Agarwal sought a resolution of tax anomalies in the pension sector while J Hari Narayanm, chairman of IRDA sought for the taxation's impact on insurance to be reconsidered. "There are issues which will adversely impact the industry from our point of view. The whole approach to taxation we feel can be better suited," he said.
