The Hindu : National : Rajnath: control inflation

Online edition of India's National Newspaper
Wednesday, Feb 21, 2007
ePaper


<SCRIPT language='JavaScript1.1' SRC="http://ad.doubleclick.net/adj/N4322.hinduonline/B2155503.3;abr=!ie;sz=468x60;ord=[timestamp]?"> </SCRIPT> <NOSCRIPT> <A HREF="http://ad.doubleclick.net/jump/N4322.hinduonline/B2155503.3;abr=!ie4;abr=!ie5;sz=468x60;ord=[timestamp]?"> <IMG SRC="http://ad.doubleclick.net/ad/N4322.hinduonline/B2155503.3;abr=!ie4;abr=!ie5;sz=468x60;ord=[timestamp]?" BORDER=0 WIDTH=468 HEIGHT=60 ALT="Click Here"></A> </NOSCRIPT>

National

National

Rajnath: control inflation

Neena Vyas

Writes letter to Prime Minister

Rajnath Singh

NEW DELHI: Bharatiya Janata Party president Rajnath Singh has sent a 21-page pre-budget missive to the Prime Minister asking him to control the raging inflation, bring down interest rates, develop infrastructure and give more tax concessions.

Copies of the letter, dated February 19, were released to reporters here on Tuesday by BJP leader Kirit Somaiya.

Mr. Singh has demanded that interest rates for loans be lowered across the board, especially to farmers and for housing.

Mr. Somaiya said the BJP favoured lowering of interest rates for loans to farmers to 4 per cent (During the Vajpayee Government these interest rates were 16 per cent and were lowered to 9 per cent a few months before the 2004 Lok Sabha election). It was pointed out that interest rates for housing had moved up from 7.25 per cent during the Vajpayee Government's tenure to more than 11 per cent now.

To ease the situation for those borrowing money to build houses, the BJP suggested doubling of tax exemptions and benefits for housing. The party suggested decreasing the rates of personal tax in different income slabs to 5, 15 and 25 per cent from 10, 20 and 30 per cent. It sought massive investment in infrastructure, especially for power generation, to help maintain the growth rate.

Printer friendly page
Send this article to Friends by E-Mail

National