While presenting the tax proposals in the Budget 2013-14, the Finance Minister set the context by stating that the underlying theme of his proposals is to bring clarity in tax laws, stability in tax regime, provide a non-adversarial tax administration and a fair dispute resolution mechanism.
It is not a flamboyant or even a populist Budget, as many would have expected, for the simple reason that early next year the country goes for the General Elections and Finance Minister P. Chidambarams chief concern seemed to be reducing fiscal deficit than curbing inflation.
Given the fact that elections are just round the corner and the grim macro-economic scenario, the Finance Minister has done a fairly commendable job. He has resisted the temptation to announce a populist budget.
The expectation that the Finance Minister would give the right signals to investors in the agriculture, warehousing and cold chain infrastructure space through an integrated package of measures to be announced in the Budget has been largely belied.
the Finance Minister has confined the fiscal deficit to 5.2 per cent in FY13 and as expected, this arithmetic achievement is in line with his topmost agenda of averting a country rating downgrade: IIFL
Union Budget FY14: The Finance minister has articulated a Fiscal Deficit (FD) target of 4.8% of GDP during FY14 with a commitment to bring down the FD, Revenue Deficit and the Effective Revenue Deficit to 3.0%, 1.5% and zero, respectively by FY17, says D&B.
One has to compliment the Finance Minister Mr P Chidambaram for addressing the nations priorities in his budget for 2013-14 said Mr Gagan Banga, CEO of Indiabulls Financial Services Limited. he has presented a realistic and balanced Budget , which is a good beginning.
Mr. Finance Minister, through this budget, has tried to give a big push to infrastructure, incentivise savings through financial instruments and property particularly at the lower end, and focus on the inclusive growth agenda.
The Union Budget presented by the Finance Minister P Chidamabaram did not go well with the opposition parties. In an interview to CNBC-TV18, Jay Panda of BJD says that the FM was under pressure to pull off a 'safe' Budget. He also adds that there was a desperate need of investment major highlight of Budget.
The budget, with the limited availability of fiscal space, attempted to bring fiscal consolidation with lower fiscal deficit of 4.8% and simultaneously made higher allocations to various schemes to spur investments.
If Palaniappan Chidambarams eighth budgethas not set the markets on fire, it can be easily explained: his first goal was to avoid doing damage to investor confidence, which is what his predecessor managed to do. And unlike his own 2008 budget, which set the stage for the economys long-term slide