Exuding careful optimism for the current fiscal year, Prime Minister Manmohan Singh said today growth of 7.4 per cent in 2009-10 was one of the best performances in the world after the global financial crisis in 2008. Report to the People, 2009-10, laud the government's efforts for fiscal incentives comprehensive by it resulted in an increase in the developed sector which grew by 8.9 percent in 2009-10, against 3.2 percent in 2008 -09. This balanced the drop-down effect to a negative 0.2 percent growth in agricultural production has had on overall growth, estimated at around 7.2 percent of the Central arithmetical Organisation .
On inflation, the report attributes raging inflation in recent months the limitations on the supply side of food, especially due to unfavorable south-west monsoon. To solve the problem, UPA government took events to ensure that there is enough food grains to interfere in the market and keep prices under control. For example, earmarks Centre 20 lakh tonnes of wheat to state governments under Open Market Sale Scheme (Domestic). Another 10 lakh tonnes of rice was awarded in October 2009 to March 2010, according to a report prepared for PeopleSoft today announced Singh and UPA president Sonia Gandhi after the completion of the management a year in power.
"One of the major problems we face now is pressure on prices. This is largely the consequences of drought, but it needed a solid effort ... prices have shown a moderating trend in recent weeks. I hope that this trend will continue. We will continue to monitor the situation closely and take remedial events needed to rein in inflation, "the report says.
Describes the steps taken by the administration to continue reforms in direct taxes, the report underlined the launch of the draft direct tax code and a discussion paper on the similar.
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