P. Chidambaram in His Budget Speech…
“I look forward to the changes that will be made to the foreign trade policy next month and I assure my support to measures that will be taken to boost exports of goods and services. Containing CAD is tricky. It can be contained only if we export more, import less or do both. In the short run it is not easy to reduce imports because of our compulsion to import oil, pulses and coal.”
“More measures and decisions will be announced during the passage of the budget in Parliament, raising the hopes of those who were left out in the budget resolution. The finance minister also said the budget was not a one-stop or one-step measure and that it was a continuing process, hinting that when the wheels of the economy turn for the better, the government may announce more measures across the board.We must be patient when the economy is challenged and wait for the wheels to turn.”

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