Chidambaram promises more measures to spur growth

The government proposes to undertake a number of administrative measures in tax revenue generation covering customs, excise and service tax, and insurance and banking sectors to promote growth, finance minister P Chidambaram said today.

He said, these measures, which are outside the legislative measures announced in the annual budget for 2013-14, would be announced in Parliament before the passage of the Finance Bill.

During a post-budget interview, Chidambaram said he budgeted for growth and that his party and the government are satisfied with the budget. Yet, he said, he was looking to plug any loopholes that might hamper growth.

"My party appears to be happy. The opposition, of course, would have to be critical. That is the role of the opposition to expose, oppose and depose as it is said.''

He said a little more attention could help raise tax revenue mop via customs, excise and service tax and that he was currently looking at that.

"I am not perturbed by criticism. The media, as usual, magnifies certain things and ignores certain other things. So that is part education, part entertainment. It has been a mixed bag of emotions to see the reactions," he said.