Bulk of the gains projected from direct taxes will come from the surcharge on super-rich.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Do you think the Budget is good? Will prices of goods drop or rise? Will the stock markets continue to soar? What else could Chidambaram have done?
Congress MPs approach PM to protest against Chidambaram's public remarks on blaming Mukherjee for economic crisis.
Companies that loaded up on debt when India was being hailed as the world's second-fastest-growing economy are now deleveraging to clean up their balance sheets.
The Reserve Bank of India has opposed Finance Minister P Chidambaram's budget proposal to use part of the foreign exchange reserves of over $200 billion to provide "credit wrap," or credit guarantee insurance, for financing infrastructure projects.
A hike of Rs 214 crore was allocated to the Ministry of Youth Affairs and Sports, with Finance Minister P Chidambaram earmarking Rs 1219 crore for it in the 2013-14 budget presented in Parliament on Thursday. In his Budget presented in the Lok Sabha, Chidambaram allocated Rs 1093 crore as plan outlay while Rs 126 crore was set aside for non-plan.
A hike of Rs 214 crore was allocated to the Ministry of Youth Affairs and Sports, with Finance Minister P Chidambaram earmarking Rs 1219 crore for it in the 2013-14 budget presented in Parliament on Thursday. In his Budget presented in the Lok Sabha, Chidambaram allocated Rs 1093 crore as plan outlay while Rs 126 crore was set aside for non-plan.
The Cabinet has already cleared two proposals that will receive support from the fund.
Will take their views on improving investment climate and boosting economy.
Worried over high budget deficit derailing growth, Finance Minister P Chidambaram on Monday unveiled a five-year road map for fiscal consolidation to promote investments, contain inflation and take India to high growth trajectory.
While the nation hopes to see a populist Budget, here are some pre-Budget suggestions to Finance Minister P Chidambaram.
Former Union Finance Minister P Chidambaram on Friday said the Union Budget had been drafted in anticipation of early general elections and the fiscal deficit would move up to 6.2 to 6.3 per cent as against the 5.9 per cent projected in the Budget.
The government on Monday indicated that it may tinker with the excise duties and service tax rates in the interim budget in an apparent bid to boost economy but may not pursue key reforms legislations due to lack of political consensus.
With danger signals flashed in the Economic Survey, the Budget is likely to contain certain bold decisions to cut fiscal deficit and spendings laced with tax sops for the salaried class.
It was study in contrast between mother and son in the Lok Sabha on Thursday.
Chidambaram said if one went by the number of people attending the conferences and questions they asked, it clearly showed there was enormous interest in and goodwill for India.
He said the economy has 'clawed back' to 4.4 per cent in Q1, 4.8 per cent in Q2.
The strongest reasons for creating an independent debt management office (DMO) are also the ones for not doing it now, says Rajeev Malik.
Chidambaram had expressed unhappiness over the manner in which the two major contributors to the subsidy bill, petroleum and fertilisers, were handled prior to his appointment.
Besides addressing the inflation problem, the Budget is likely to focus on infrastructure and agriculture.
In February 1997, Mr Chidambaram fixed the income-tax rates for individuals at 30 per cent, 20 per cent and 10 per cent, depending on specific income slabs. The rates have not changed since then, although some finance ministers have imposed surcharges on these rates and some have withdrawn them.
During the last few years, finance ministers like P Chidambaram and Jaswant Singh limited their pre-Budget discussions to representatives from the industrialists' lobby, economists, farmers and trade unions. This time, Pranab Mukherjee has held exclusive meetings with exporters, the financial sector, electronics and information technology. He will also hold a meeting with the finance ministers of the states.
Chidambaram to meet ministries' financial advisors, PM's economic council.
Growth under NDA has been reasonable, inflation, exports and job creation are problem areas
Chidambaram to meet Congress Parliamentary Party today.
India Inc gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.
Says there is a case 'if voluntary compliance increases'.
The United Progressive Alliance's last full Budget was to be "people-friendly" and correct these distortions. It has comprehensively failed to do so. Indeed, it continues with the neo-liberal policy orientation and will create more problems than it solves.
When it comes to usage of words in the budget speech, terms like women, youth and investors grew in count from the last year levels.
The Dravida Munnetra Kazhagam, till yesterday the government's major ally, joined hands with arch-rival the All India Anna DMK and other Tamil Nadu political parties on Wednesday to reject the request of Finance Minister P Chidambaram for a structured debate on Union Budget 2013 in the Rajya Sabha on Thursday, and the passage of the Budget.
Soon after Union Finance Minister P Chidambaram presented the Union Budget 2013 in Parliament, Trinamool Congress leader and former Railway Minister Dinesh Trivedi joined us for the Budget chat.
Good news for the first-time homebuyer, stock market investor and individuals wanting to buy insurance in the Union Budget 2013-14, opines Rajiv Raj of CreditVidya.com
Raising the taxes on the super-rich will not solve the fiscal consolidation problem, but will definitely help.
Finance Minister P Chidambaram presented the 2006-07 Union Budget in Parliament on Tuesday.
