Budget’s aim is to boost investment, empower farmers, says Piyush Goyal

Budget’s aim is to boost investment, empower farmers, says Piyush Goyal

The government will not let inflation dilute the effect of its planned doubling of farmers’ income in five years and will keep an eye on the effective tax rate of large companies for tax rate adjustments, power minister Piyush Goyal said at The Verdict, a conference organized by Mint and CNBC-TV18 on the Union budget on Thursday.

Addressing industry leaders, Goyal said the broad aim of the budget was to boost investments and consumption in the economy and to empower farmers so that they do not have to depend on doles.

Goyal said that letting inflation go unchecked, which will lead to higher minimum support price, was not the way for raising farm incomes as it will only lead to a higher sale value and corresponding production costs, not higher income for the farmer. Read More…

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