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The world economic forum descended on New Delhi in November again for its India meet providing the country's industry with yet another opportunity to showcase its strength to the world community the same mood had been generated by the fourth successive Union Budget presented by the Finance Minister Dr. Manmohan Singh it introduced a cut in income and company taxes as well as the expansion of the rupees convertibility to the current account, customs duties were reduced from the earlier 85% to 65% and a simpler excise duty structure introduced an interest rate of 1% on term loans was also proposed. One area that caused concern, however, was the increasing fiscal deficit and analysts expect that Dr. Singh will find it difficult to contain it this year as well but the most significant event of
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politics · school
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