New Delhi, Feb 28 (UNI) Expressing satisfaction over the benefit of Rs 1,000 to Rs 2,000 given in personal income tax, Prime Minister Manmohan Singh today said the Budget would check the rising prices of essential commodities as the proposals had a clear ''anti-inflationary bias.'' The customs and excise duty cuts and the meeting of the fiscal and revenue deficit targets were proof that ''we are moving in the direction'' of checking inflation, Dr Singh told reporters immediately after the presentation of Budget 2007-08 by Finance Minister P Chidambaram.
''That itself should be an assurance'' that inflation would not be allowed to go out of hand, he said.
Further, the Budget proposals for strengthening irrigation, coupled with duty cuts on a number of sensitive commodities, would strengthen supply side management and help ease inflationary pressures, he said.
Asked why the personal income tax was limited this time, the Prime Minister said the Budget had a different focus area every year, implying that the salaried class was given major tax concessions by the UPA government only recently.
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''That itself should be an assurance'' that inflation would not be allowed to go out of hand, he said.
Further, the Budget proposals for strengthening irrigation, coupled with duty cuts on a number of sensitive commodities, would strengthen supply side management and help ease inflationary pressures, he said.
Asked why the personal income tax was limited this time, the Prime Minister said the Budget had a different focus area every year, implying that the salaried class was given major tax concessions by the UPA government only recently.
MORE UNI
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