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P C chairs Finance Ministry's consultative committee meeting

Posted on Feb 05, 03:03PM | UNI

New Delhi, Feb 4 : The first meeting of the Consultative Committee of the Ministry of Finance was held here in this calendar year chaired by Finance Minister P Chidambaram ahead of the preparation of the budget proposals for 2013-14.

Participating in the discussion, MPs gave suggestions to make the budget practical, reasonable and visionary. They wanted the budget to give incentive for job creation, growth oriented and give recognition to young entrepreneurs and innovators.

It should focus on water conservation and urban renewable mission by tackling both environmental and physical degradation in this area. Some MPs wanted the budget focus on the incentives for the youth stating that home loans may be provided at cheaper rate of interest for the youth up to the age of 35 years and scope of MGNREGA be expanded to include creation of human assets along with physical assets in the rural areas.

The members suggested to give incentives to small agro-based and food processing industries in rural areas to create more employment opportunities for rural people which would help in tackling the problem of migration from rural to urban areas. Rural based infrastructure should also be given priority to achieve the same objective.

Some MPs wanted focus on providing of drinking water facilities, tackling of garbage problem and sewerage related issues and providing basic facilities of health and education in rural areas. For that they suggested that the budget of the Ministries of Rural Development and Human Resource Development may not be reduced.

Suggestions were made to enlarge the scope of Pradhan Mantri Gram Sadak Yojana and Rajiv Gandhi Grameen Vidyutikaran Yojana to include small village hamlets rather than covering only revenue villages. Some suggestions were made regarding setting-up of Skill Development Centres at district level to make them easily accessible to the youth.

Suggestions to focus on middle class in this year budget were also made and also to broad base the tax network.

Ministers of State for Finance S S Palanimanickam and Namo Narain Meena, Adviser to the Finance Minister Parthasarthy Shome, Finance Secretary R S Gujral, Revenue Secretary Sumit Bose, Secretary, Department of Economic Affairs and other top officials of the Finance Ministry were also present at the meeting.