PC: Much more is on the way, hope RBI cuts rates

Mar 04, 2013 |

New Delhi

A number of non-legislative decisions covering customs, excise, service tax, insurance and banking will be announced in Parliament before the Finance Bill is passed, finance minister P. Chidambaram said in an interview on Sunday.
The February 28 Budget had focused on the legislative areas, and the government was now working on non-legislative decisions, the minister told PTI. “More announcements will be made and more decisions taken” during the reply to the debate in Parliament, he added.
The finance minister said he was satisfied with what he had done in the Budget.
“My party appears happy. The Opposition, of course, will have to be critical... I am not perturbed by criticism. The media, as usual, magnifies certain things... The media likes frenzy, (it) likes theatre... but people like orderly growth and orderly lives”.
Mr Chidambaram said while “I can’t direct the RBI to do this or to do that”, he hoped the Reserve Bank will cut rates, as that will help the economy grow at a higher rate of 6.5 per cent in the next fiscal.

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