A 5.5 to 6 per cent fiscal deficit for 1999-2000 Big shortfall in revenue, higher defence outlay Privatisation proceeds to meet only one-fifth of target Expenditure target to overshoot by 15-20 per cent No major change in farm subsidies but states may get incentives to ensure proper user charges for services No cut in import duty, surcharges to stay, more rationalistation of excise slabs but not in customs Direct tax effort to include tax on services and exports, several IT exemptions may go Move to tax rural income by taxing interest accrual on postal savings schemes
