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Jan 24, 2013, 01.09 PM IST | Source: PTI

CHIDAMBARAM TWO LAST

CHIDAMBARAM TWO LAST

The Finance Minister said if on February 28 he could show The Finance Minister said if on February 28 he could show that the government has kept fiscal deficit below 5.3 per cent and if Budget estimates show that the next year's fiscal deficit will be below 4.8 per cent, then he can show a healthy growth in revenues over next year. "I think that is the time when rating agencies should consider moving us from... I mean improving the outlook and then improving the rating," he said. Several experts including chairman of Prime Minister's Economic Advisory Council (PMEAC) C Rangarajan have underlined the need for imposing higher rates of taxes on super rich. Yesterday, Wipro Chairman Azim Premji had said the suggestion for taxing the super-rich was a "politically" correct thing to do, but expressed doubts whether the government will actually implement the proposal. India taxes income at three rates - 10 per cent, 20 per cent and 30 per cent. These rates were fixed in 1997. PTI DRR CS ANZ VSC VSC

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