homeeconomy NewsGovt to stick to borrowing calendar; definitely looking at PSB privatisation: Sources
Govt to stick to borrowing calendar; definitely looking at PSB privatisation: Sources
The government will have to balance the budget on revenue loss arising out of tax cuts. It will review the numbers after the first quarter this fiscal, the sources added. Talking about the rupee-rouble arrangement, sources said that discussions were still on at present and the earlier system is still alive.
The government is not looking at extra borrowing at this moment, official sources told CNBC-TV18, adding that it plans to stick to the borrowing calendar.
The government will have to balance the budget on revenue loss arising out of tax cuts. It will review the numbers after the first quarter this fiscal, the sources added.
The sources also said that revisiting the inflation target was not on the table.
Talking about the rupee-rouble arrangement, sources said that discussions were still on at present and the earlier system is still alive.
Sources said the government will have to see if earlier rupee-rouble arrangement could work in a changed global situation.
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The sources said that the government was definitely looking at PSB privatisation and was expecting the land lease policy to up for the Cabinet's approval soon as well. The CONCOR stake sale may take more time, even after the land lease policy receives the Cabinet's approval, the sources said.
The time may still not be right for GST rationalisation due on inflation overhang, the sources said, adding that the government has to take a call on rate rationalisation and the GoM report on rate rationalisation was still awaited.
The government is also not considering bringing ATF under GST, the sources added.
The GST Council meet is likely to be held in June. However, the date is not yet decided.
The sources also added that the government was looking at ways of bringing unutilised cement stocks from the south. "The government is planning to lift idle cement stocks from South India to cool prices," the sources said.
Also Read: FICCI and CII welcome govt's move to reduce excise duty on fuel, say will help bring down inflation
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First Published: May 25, 2022 10:40 PM IST
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