 "Govt committed to fiscal consolidation, helping infrastructure: Sitharaman")
The government will control the fiscal deficit without compromising on public expenditure, said Finance Minister Nirmala Sitharaman on Wednesday.
The government has set the fiscal deficit target at 3.3 per cent of GDP for 2019-20, she said in the Lok Sabha in her reply to the general discussion on Budget 2019-20.
"We will move GST Council to reduce the GST rate on e- vehicles from 12 per cent to 5 per cent," she said.
The minister said the government plans to invest over Rs 100 lakh crore in developing infrastructure in the next five years. She said the government has increased Minimum Support Price (MSP) for all 22 commodities.
Sitharaman further said the government has been taking several steps to achieve $5 trillion economy by 2024-25.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%