Budget conveys strong signal for reforms: Pranab Mukherjee

The budget for 2011-12 conveys a "strong signal towards reforms", especially on taxation and fiscal consolidation, Finance Minister Pranab Mukherjee said Monday.

“Through this budget I wanted to convey a strong signal towards reforms, and reforms not just in dramatic announcements but addressing those issues where governance and delivery can improve,” Mukherjee told reporters.

The minister said he had taken a slew of measures to reform the taxation system and reduce fiscal and revenue deficits.

He said the direct tax code and the proposed goods and services tax would bring revolutionary changes in India's taxation system.

“I have conveyed the message through this budget we are to consolidate the gains of reforms and expand it,” Mukherjee said.