India confident of bringing economy back on desired track

Monday, August 06, 2012
New Delhi: Indian Finance Minister, P. Chidambaram today said that uppermost in his mind is the duty to re-gain the confidence of all stakeholders. 

Assuring that inflation can be moderated in the medium term, he said that the Government will work with RBI in this regard. In a statement, the Finance Minister said that a path of financial consolidation will be unveiled shortly. 

He made it clear that the burden of fiscal correction must be shared, fairly and equitably, by different classes of stakeholders. 

The Finance Minister said that the poor must be protected and others must bear their fair share of the burden. He further said that wherever required, the corrective measures will be taken in bringing clarity in tax laws, to have a stable tax regime, a non-adversarial tax administration and a fair mechanism for dispute resolution.
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