IT Update
Sinha deftly walks the reforms tightrope FM staged a virtuoso act of balancing conflicting objectives, catering to diverse constituencies, pursuing fiscal stabilisation along with structural adjustment, pushing the economic reforms programme onto a new stage while presenting the Union budget for 2001-02 in Parliament. Sinha cuts interest rate, sets stage for exit policy Pushing ahead the reforms agenda in critical sectors, FM announced changes in the labour laws, reduced interest rates on small savings schemes by 1.5% and removed 14 items relating to leather goods, shoes and toys from the SSI reservation list. Tax reforms -- Sinha sets the ball rolling FM has taken the tax reforms process forward by merging the three SED rates of 8%, 16% and 24% into a single rate of 16%, by abolishing various surcharges on the customs, corporate and personal income taxes except the 2% Gujarat quake surcharge and expanding the service tax net to new Sinha kicks surcharges out FM has removed all surcharges on corporate and non-corporate tax payers in his Budget '01-02. Sinha's Budget is in the category of Manmohan's 1991 one When you present the first budget of the millennium, your budget has a headstart anyway. But this is just one of the various firsts that Sinha's fourth has this year.
Sinha deftly walks the reforms tightrope
Sinha cuts interest rate, sets stage for exit policy
Tax reforms -- Sinha sets the ball rolling
Sinha kicks surcharges out
Sinha's Budget is in the category of Manmohan's 1991 one