Financial consolidation, reducing deficits to get priority: BJP

New Delhi, Nov 18: Encouraged by the Moody's rating that upgraded India at a higher economic scale, the BJP has said in the days to come more steps will be taken to ensure "financial consolidation" and ensure that there is improvement in all the parameters of governance.

"As things proceed and progress we wish to continue on the path of fiscal consolidation so that the macro economic decisions of the country continues to be strong.....and they continue to improve on all the parameters of governance," BJP leader and Union Minister Piyush Goyal has said here. The focus will be on growth prospects and also reducing deficits, the Railway Minister told reporters here on Friday. "We will continue to take steps to bring down interest rates, we will continue to bring more of the economy into formal economy and so that the tax base is increased. We will reduce the tax rates," he said. Among other strategies, he said steps will be taken to achieve hundred per cent electrification Mr Goyal dismissed Congress’ criticism over Moody’s upgrade and said this was only a reflection of the Opposition party’s “desperation.”  "They have lost all sense of proportion and are only damaging the credibility of institutions which is not in national interest.....ultimately India is a part of world community. Today in the globalised world.....and such comments only go to undermine India's strength and India's image and credibility in the world," he said.  The remarks from the minister came in reply to Congress leader Anand Sharma's observation that there is no reliability of company who conducted these surveys. "I would urge leaders of opposition parties not to stoop so low as to take politics to a level where India's national interests suffer," Mr Goyal said. UNI