Rs. 7594 crore to be devolved to states under VDIS in
1997-98;
Rs. 1000 crore more to be given as additional central
assistance to states in current financial year;
Constitutional Amendment Bill to be introduced soon to give
effect to alternative scheme for sharing of resources between centre and states;
Interim Budget seeks to continue existing tax structure;
Fiscal deficit pegged at 6.1 per cent for current financial
year;
Net tax revenue for centre shows a shortfall of 12.6 per
cent;
Large shortfall in disinvestment receipts;
Growth in establishment expenditure to be contained process
of PSU disinvestment being accelerated and made transparent;
Economic reforms to be deepened, broadened and accelerated;
Budgetary support plan at Rs. 64461 crore level content and
level of budgetary support for the annual plan 1998-99 to be reviewed in the regular
budget;
Regular budget will seek to impart necessary stimulus to
agriculture and industry, restore dynamism to exports and encourage larger flows of
foreign investment;
Regular budget to strengthen financial system, improve
infrastructure and bring strict fiscal discipline.
