CHENNAI, Jan 19 � Ahead of the 2015-16 Budget, Finance Minister Arun Jaitley today said there was a need to rationalise all subsidies and ensure stability in policies to attract investment and drive growth, reports PTI.
�From January 1 LPG subsidy is going through banks... We have to gradually rationalise all possible subsidies,� the Minister said while addressing a CII function here.
The government is expected to incorporate the suggestions of the Expenditure Finance Commission headed by former RBI Governor Bimal Jalan in the budget proposals for 2015-16.
Jalan is reported to have submitted interim recommendations to the Finance Ministry suggesting various steps to rationalise subsidies and public expenditure.
The government�s subsidy bill towards oil and fertilisers runs into lakhs of crores of rupees.
Jaitley also underlined the need for stability in tax and other policies to make India an attractive place for investment.
The implementation of the Goods and Services Tax (GST), he added, will help in improving the business climate in the country.
