SHAREKHAN SPECIAL
Interim budget 2009-10
A low-key affair
Set against the background of a worsening fiscal position, slowing growth and the end of the United Progressive Alliance's term, the interim budget for FY2010 turned out to be a low-key affair. The budget did not spell out any sector-specific tax sops for the industries hit by the global economic slowdown and was also silent on changes in direct or indirect taxes. Despite lowered expectations from the interim budget, the absence of tax sops and sector-specific stimulus package has not gone down well with the street. However, the finance minister has emphasised the need for additional fiscal measures by the new government after the forthcoming general election.
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