ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Budget Pointers Vol XX No 9 March 9, 1985 THIS is the season of representations and memoranda to the Finance Minister from organisations of industry and trade. This year these exercises have gained in expectancy as a result of the many avowals of the government's intention to create conditions favourable for the growth of private sector industry. So much so in fact that almost the only focus of interest in the Budget to be presented on March 16 has come to be the reductions in direct and indirect taxes and other concessions likely to be offered. It cannot be said that the Finance Minister has not encouraged these attitudes in some of his recent pronouncements. In his address to the Central Advisory Council on Trade he was all for growth-oriented fiscal policies. He even indulged in a dose of self-criticism on behalf of his predecessors in office: "Many a time short-term revenue considerations cloud our vision of economic growth. In fact growth and revenues are quite complementary to each other. While it may not be possible at one stroke, yet a growth-oriented revenue environment is what we should aim to achieve over the years.'' And referring to the problem of the black economy, he declared that while the fight against it must go on, an economic environment had to be created wherein there was less incentive to conceal incomes and wealth and people were more forthcoming.

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