NDTV Profit | A second round for us please

With the first economic stimulus package – which included duty cuts and other sectoral incentives – still to take off, the government has already started work on the second package expected next week as yet another booster dose to the slackening economy.

Citing a considerable slowdown in revenue collections, the states have requested for additional Rs 20,000 crore from the central government for use in infrastructure development, housing and social sectors. In addition they want the Fiscal Responsibility and Budget Management FRBM targets to be relaxed to enable more market borrowing.

The state finance ministers have virtually asked for a bailout from the Centre and for this the path now leads to the Prime Ministers Office with states planning to call on the PM soon.

The states have also opposed the cut in the sales tax rate of ATF to 4 per cent. They are now facing a tedious task as they lose revenues thanks to a cut in sales tax on diesel and petrol.

via Now, states demand Rs 20,000 cr stimulus package .


About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on December 16, 2008, in Financial Markets, India, Meltdown and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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