Outgoes

The government was in a "catch-22" situation because it wanted to lower tax outgoes for the people and ensure that it eases the process of tax, but did not want to disturb the system due to which it made a beginning by giving people options, he said.

A sharp contraction in the volume of gold imports kept outgoes on this account in check.

It also helps people to raise their creditworthiness as a borrower, as the EMI outgoes are small.