Kolkata, Sept 11 (Calcutta Tube/IBNS) Union Finance Minister Pranab Mukherjee said the Public Distribution System (PDS) will have to be revived to feed 40-50 crores of Indian population.
He was addressing the 179th Annual General Meeting of Calcutta Chamber of Commerce here on Saturday.
Mukherjee underlined that for the BPL families ‘PDS has to be undertaken by the State Governments’.
“It is their constitutional duty,” he said.
Mukherjee pointed out that food economy is one of the most important factors in Indian Economy.
Dealing on Goods and Service Tax (GST), Mukherjee iterated that “I want to avoid multiplicity of taxes”. In this connection he called upon business leders to utilize their influence on state governments and political parties.
“GST will not be possible without consensus amongst political parties and state governments”, he stated.
Mukherjee further said: “At present we are facing very serious economic situation and trillions of rupees are injected as stimulus package.”
He expressed the hope that in 2010-11, India’s GDP growth rate will be around 8.5-8.75 per cent.
“We must come back to the path of fiscal consolidation,” he reiterated.