Terming the Union Budget as an excellent document, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said efforts were on to break the impasse on turnover tax on securities transactions.
After a closed door interaction with National Council of the Confederation of Indian Industry, Ahluwalia said budget is an excellent document and meetings are going on to sort out the issues thrown up by budget proposal to impose turnover tax on securities transactions.
He, however, did not comment on the another contentious budget proposal of increase in foreign direct investment limit in telecom, insurance and civil aviation.