| Review meet brings no cheer, FM Jaitley ducks questions on fuel prices|
ALL eyes were pinned on the two-day long economic review meeting chaired by Prime Minister Narendra Modi to discuss key economic issues, including the depreciation in rupee value and rising fuel prices, but it brought no cheer for the common man.
While some relief was expected in the form of excise duty cut on the alltime high petrol and diesel prices, it did not come by.
“The Prime Minister has expressed satisfaction...,” Finance Minister Arun Jaitley told reporters on Saturday, after the review meeting in New Delhi.
With inflation broadly under control, the government would stick to its capital expenditure and fiscal targets for the current year, Jaitley said, virtually ruling out any immediate cut in fuel prices and ducking all questions on fuel prices.
“The government is confident and committed to strictly maintaining the 3.3 per cent fiscal deficit target. As far as capital expenditure is concerned, for maintaining the high trajectory growth, we will end the year without any cuts and maintain 100 per cent capital expenditure necessary for it,” the Minister said after a three-hour meeting at the Prime Minister’s official residence.
“From the Finance Ministry’s side, we are taking all steps to meet the fiscal deficit target for the year. We will maintain the target,” Jaitley said, expressing confidence in seeing a growth rate higher than what was projected earlier this year. It will exceed the divestment target, he added.