Govt hints at fiscal sops as well in vote-on-account

A day after stating that there is no constitutional bar on the interim budget announcing stimulus package, the government today said it will look at "everything" to push the industrial growth impacted by global downturn.

"This is still under formulation," Commerce and Industry Minister Kamal Nath said here when asked whether the government would unveil a package in the vote-on-account on February 16.

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Asked whether the package would contain the fiscal incentives as well, the minister said, "We will look at everything which will stimulate economy".

Home Minister P Chidambaram had said there was no constitutional bar on the government from announcing measures in the interim budget in the run-up to the general elections.

"Constitutionally there is no bar. But what the (finance) minister will do I cannot say," Chidambaram said when asked if the government can announce policy measures to stimulate economy in the vote on account.

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source - www.economictimes.com