We will alter policies to accelerate growth: PM

Dec 16 2012, 01:00 IST
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SummaryPrime Minister Manmohan Singh announced his resolve to put government finances in order by cutting down subsidy on oil and implementing the fiscal deficit reduction blueprint proposed by finance minister P Chidambaram, saying the “unsustainable” growth in oil subsidy is coming in the way of social spending.

due to political opposition, wants to make setting of rail fare more transparent. “The Railways are working on a rail tariff authority, which will make fare setting a more rational exercise,” he said. He also hoped the land Bill will make land acquisition more fair and transparent.

Singh also urged the industry to do more on inclusive growth.

PM’s prescription

* Cut subsidy on oil

* Implement fiscal deficit reduction blueprint proposed by FM

* Priority to DTC, GST, GAAR, taxation of IT sector

* Speed up disinvestment

* Setting of rail fare to be more transparent

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