Finance Minister Jaswant Singh today rolled back the up to Rs 120 per quintal hike in fertiliser prices announced in the Budget for 2003-04. He also slashed the rate of interest on Central loans to states by 100 basis points to 10.5 per cent and claimed that the fiscal deficit would be contained at 5.6 per cent of the gross domestic product (GDP) in the next fiscal.
Singh also cut interest rates by 100 basis points from 13 per cent on loans taken by central government employees for housing and consumer durables.
Singh said demands for changes in taxes would be addressed during the passage of the Finance Bill in May.
The upper limit of Rs 2,000 under the monthly pension scheme for elder citizens, to be launched by the Life Insurance Corporation, might be raised
