Adoption of International Financial Reporting Standards could accentuate volatility, driving capital away from the markets. The ICAI should defer the introduction of IFRS and first constitute a committee of experts to identify the need for this convergence.

"This Budget belongs to 'Aam Aadmi'. It belongs to the farmer, the agriculturist, the entrepreneur and the investor. The opportunity is great. The time is right. I have placed my faith in the hands of the people who, I know, can be depended upon to rise to any occasion in national interest. I have placed my faith in the collective conscience of the nation that can be touched to scale undreamt of heights in the coming years." Hon’ble Finance Minister Mr. Pranab Mukherjee in para 188 of his Budget Speech

The budget documents contain a statement on the tax revenues raised but not realized by the government of India. This provides us the details of the unrealised dues on various taxes viz., income tax, Excise, Customs and Service tax. These are further categorised under amounts under disputes, that is, where the assessee has gone on an appeal and those not under any dispute. As per the Budget 2010-11, the Tax revenues raised but not realized aggregates to Rs 117,065 crores.