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Shri Murli Deora welcomes people-friendly Budget proposals
Mar '08
The Minister of Petroleum and Natural Gas Shri Murli Deora has welcomed the people-friendly proposals made in the general Budget 2008-09, which was presented in the Lok Sabha.

Describing the Budget as another milestone achieved by the UPA Government towards ensuring the welfare of the common man, Shri Deora specifically welcomed the tax rationalization by the Finance Minister in excise duties on unbranded petrol and diesel.

Referring to the conversion of the advalorem part of the excise duty to specific duty on these products, the Minister said that this is a major step forward towards rationalizing tax structure of petroleum products.

He also said that reduction of import duty on project imports from 7.5% to 5% would give a boost to fresh investment in the oil and gas sector, along with other industrial sectors.

Hailing the Budget as a land mark one, he said that the critical agriculture sector had been given due importance in ensuring that India continues on the high growth path.

He also pointed out that the UPA Government's approach on inclusive development found ample reflection in the quantum jump in fund allocations to the social sector schemes, especially for vulnerable and backward sections of the society.

Shri Deora congratulated Finance Minister on announcing several measures for the welfare of farmers and added that ordinary tax payers have also benefited significantly.

Press Information Bureau Government of India

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