Southern States - Kerala   

`Union Budget balanced'

By Our Staff Reporter

KOZHIKODE MARCH 5. E.T. Lukose, Commissioner of Income Tax, Kozhikode, has opined that the Union Budget presented by the Finance Minister, Jaswant Singh, can be evaluated as `balanced'. The real test of a budget was whether it had taken into account the interests of the nation, and that of the largest segment of the populace. Another yardstick was whether it had addressed the core areas, and Mr. Singh has to be commended for his thrust on poverty alleviation, infrastructure development, fiscal reforms, industry and agriculture.

Mr. Lukose was speaking at a discussion on the `Union Budget', organised by the Malabar Chamber of Commerce in association with the Calicut Branch of the Institute of Chartered Accountants of India, here on Tuesday. The welcome measures include the `annayojna' and health scheme for the BPL families, reduction of excise duty on life-saving drugs, special concessions to health institutions, etc. In the area of infrastructure development, Mr. Singh has provided for road improvement besides modernisation of airports.

A novel idea introduced was the concept of `public-private participation', without the Government losing control. The introduction of VAT too was commendable, he said.

Every budget embodied the aspirations and disappointments of the people, from the point of view of each class, or sector and how it affected them and it is here that its impact was evaluated, Mr. Lukose added..

The Editor, `Industrial Economist', V. Vishwanathan, expressed the view that the greatest hazard arose from the expenditure being out of control, way ahead of earnings.

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