New Delhi: Finance Minister Jaswant Singh said on December 13 the economy was too serious a matter to be Budget-centric and a constant and year-long attention was required to ensure a higher growth.

"I do believe that constant and year-long attention on all economic issues with the broadest possible public participation should take place," Singh said at Federation of Indian Chamber of Commerce and Industry (FICCI)'s annual general meeting, implying the government's effort would be to make the Budgetary process transparent.

He said Budget exercises alone will not bring about any remarkable changes in Tax:GDP ratios and what was required was to tone up tax administration through modernisation and removal of procedural "irritants".

In this context, he said "government was examining, for the first time ever, outsourcing of bureaucratic functions".

Singh said the Kelkar panel's suggestion on tax reforms had stressed on increased application of IT and reduction in the interface between the taxpayer and the tax officials.

He also said the computerisation of the Department of Company Affairs was the need of the hour as it was not possible for the government to assess 6,00,000 balance sheets.

PTI