An Indian government minister has revealed that no more tax breaks will be implemented in the period leading up to the country's next budget.
Planning Commission Deputy Chairman, Montek Singh Ahluwalia, disclosed during a conference organized by the Confederation of Indian Industry, that the government must instead concentrate on introducing the stimulus measures it has already announced ahead of the next budget, which is thought to be due in July.
In December of last year, the Indian government unveiled the first of two stimulus packages aimed at boosting the economy. This first package comprised a number of important measures - most notable of which was the inclusion of an immediate cut of 4% in the ad valorem Excise Tax rate on several non-petroleum products.
The second package - announced in January of this year - contained measures aimed more at bolstering the country's small and medium-sized enterprises (SMEs), exporters not targeted by earlier initiatives, and the real estate sector.
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