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Tax cuts part of continuous budgetary process

January 09, 2004 07:00 IST

The government has said the tax cuts were part of a continuous budgetary process to stimulate economic growth but refrained from giving any figures on the revenue implication of these cuts announced in the mini-Budget.

"It is an enhancing package basically, growth momentum is strong and what the finance ministry is trying to do is giving it a boost," Chief Economic Advisor Ashok Lahiri said in New Delhi.

  • As the finance minister and the Reserve Bank of India have said, the Budget is not something to be prepared every fifth Sunday, he added. He said policies are formulated whenever necessary.

    When asked about the revenue loss to be borne by the government on account of the tax cuts, he said: "For that I will have to look at the numbers and calculations."

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