BUDGET 1999-2000
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BUDGET 98-99
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'The surcharge on direct taxes is the most disappointing feature of the Budget'

Sudhir Jalan

The finance minister seems to have negated all the major benefits that he had announced in the first part of the Budget during the last five minutes of his speech.

The surcharge on direct taxes is the most disappointing feature of the Budget and signals a reversal of a process that started some years ago.

The finance minister's deafening silence on infrastructure, besides some small sops given on housing is indeed very sad for the economy. Infrastructure expenditure was expected by all.

Also conspicuous by its absence was any announcement on a reduction in interest rates. The FM should have made his intentions clear instead of beating about the bush.

Sudhir Jalan, President, FICCI

Budget 1999-2000

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