Crystal Ball Gaze

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Outlook News Desk
Updated on:
Updated on:
Crystal Ball Gaze
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  • A 5.5 to 6 per cent fiscal deficit for 1999-2000
  • Big shortfall in revenue, higher defence outlay
  • Privatisation proceeds to meet only one-fifth of target
  • Expenditure target to overshoot by 15-20 per cent
  • No major change in farm subsidies but states may get incentives to ensure proper user charges for services
  • No cut in import duty, surcharges to stay, more rationalistation of excise slabs but not in customs
  • Direct tax effort to include tax on services and exports, several IT exemptions may go
  • Move to tax rural income by taxing interest accrual on postal savings schemes
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