India has today launched the 2011-2012 budget law that the intention of the government, will allow 'a 9% growth and poverty reduction' of millions of people without affecting the deficit. In a speech to 110 minutes to Parliament, televised live, the finance minister, Pranab Mukherjee, set out the economic and fiscal measures designed to meet both the needs dell'''uomo town''and those of big business in a crucial moment for the Congress Party swept by a series of corruption scandals and on the eve of five regional electoral appointments. The Mumbai stock exchange has reacted positively in the movement called''balanced''by the Confederation of Indian (CII). However, inflation, driven by high oil and food prices,''remains the main concern''recalled the 75-year-old minister and 'his sixth budget law. In particular, the measures there populist 'promise to enact the law on food safety (Food Security Bill), which provides rations of rice at a subsidized price for tens of millions of poor, and that' for years in the drawer of the government . Spending on social policies against poverty 'and' increased by 17%. There will also be a significant increase in defense spending, in order to finance a series of major supplies including that of 10.6 billion cacciabonbardieri U.S. dollars on a multi-role, in which it participates Finmeccanica, the European consortium Eurofighter. Despite the reduction in taxation on businesses and increased tax-free income limits, the government intends to contain the budget deficit to 4.6% of GDP (from 5.1% this year) by increasing the flow of capital from abroad and a new privatization plan. Foreign companies such as Generali Group for several years already 'on the Indian market, can now go up to 46% in the companies' insurance. By the policy of disinvestment of energy and mining companies, India is expected to collect 400 billion rupees (880 million dollars), almost double respect to the proceeds of the financial year.
