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Introduction
Economic Situation
Key Objectives
Agriculture
Housing
Infrastructure
Small Scale Industry
Science & Technology
Banking
External Sector
Capital Market
Expenditure Management
PSU Reform
Revised Estimates
Budget Estimates
Indirect Taxes
Custom Duties
Direct Taxes - A
Direct Taxes - B
Closing StatementBudget 1998-99
Budget 1997-98
Budget 1996-97
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 | Above all, despite our continuing concern year after year, we have made
only a limited impact on the problems of poverty and unemployment. The various schemes of
the Government in this area lack focus and convergence. The delivery systems need to be
cost effective and community based. The fruits of economic development should largely
reach the poor and the vulnerable specially the Scheduled Castes, Scheduled Tribes and
Other Backward Classes who, in turn, need to be empowered fully. Without this, I am
afraid, our planning will be devoid of any direction. |
| The broad strategy of this Budget therefore is six-fold:
 | Begin a medium-term process of revenue and fiscal deficit reduction,
along the lines indicated in the Ninth Plan, which will free more resources for productive
investment and growth and contain inflation. |
| Undertake a major reform of indirect taxes to promote productivity and
employment. |
| Deepen and widen economic reforms in all major sectors and accelerate
internal liberalization to release the productive energies and creativity of our farmers,
manufacturers, traders and service providers. |
| Safeguard the economy from external shocks, revive exports and stimulate
the domestic engines for growth revival. |
| Strengthen the knowledge-based industries and thus prepare ourselves for
the challenges of the new millennium. |
| Last but not the least |
| Revitalise and redirect public programmes for human development,
encompassing food security, health care, education, employment and shelter. Their focus
should be on empowering the poor and the weaker sections, especially those belonging to
scheduled castes, scheduled tribes and other backward classes. |
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