She is correct if taxes go down, the commodities will become cheaper and it will provide a great relief to the consumer.It is precisely for this reason that my Government has undertaken the single biggest reform in taxation in the form of GST.As a matter of fact, the principal opposition parties in their manifesto had promised that if voted to power, they will bring in GST.Implementation of GST depends on the cooperation and support of all political parties as constitutional amendments have to be made.I do hope all the political parties who have expressed grave concern on the price rise and plight of ‘Aam Admi’ will convert this concern into real action by whole heartedly supporting GST. It’s a win win situation for every one.
per cent. Among the components, prices of food items rose by to 10.4 per cent, those of fuels by 14.3per cent and those of manufactured products by 6.7per cent. Both the aggregate indices and their components point towards pressure from and and domestic capacity constraints in many sectors are being reached.
provided to vulnerable section of society at subsidised prices through an efficient and effective public distribution system.
. In February 2010, when I stood up to present the Budget in this House, food price inflation was close to . As a result of the steps taken by the Government, the food price inflation now has come down to !
Prices of such crops were not appreciably impacted by the Rabi harvest.
households were in the in , the corresponding figure in . For the same period, the percentage of has gone up from to . The have risen from in 2001-02 to in 2009-10. In absolute terms, in 2009-10, India has 46.7 million high income households as compared to 41 million low income households. The middle income households have increased to 140.7 million out of the total of 228.4 million Indian households.
has been increased from in to per quintal in an increase of 70%. For , MSP has moved from to per quintal – an increase of 79per cent. The new Nutrient Based Fertilizer Policy is being implemented vigorously and is likely to show positive and early results in near future.
To make the scheme more attractive, the guarantee is now being extended to 10 years. This will encourage private entrepreneurs to take up construction of new godowns under the scheme.
The overhang of liquidity in global financial markets, which is constantly in search of higher returns also contributed to the re-emergence of energy and commodities as an asset class. These factors combined to accelerate inflation in these components of the WPI.