1983-2011 Posted February 27, 2013 Posted February 27, 2013 Finance Minister P Chidambaram is set to present Union Budget 2013-14 today (28/02/2013)
Clarke Posted February 28, 2013 Posted February 28, 2013 Punishes job creators with 10% additional tax :fail: :beee: :finger:
Sachin=GOD Posted February 28, 2013 Posted February 28, 2013 One of the worst budgets in recent times.
Clarke Posted February 28, 2013 Posted February 28, 2013 ^ Talking in socialist or capitalist sense ?
Sachin=GOD Posted February 28, 2013 Posted February 28, 2013 ^both. There's not much in this Budget for anybody.
ravishingravi Posted February 28, 2013 Posted February 28, 2013 Smart Budget. He really ended up doing nothing and hurting nobody.
ganeshran Posted February 28, 2013 Posted February 28, 2013 Next budget will be populist. There should have been more reforms in this one. So the 10% surcharge means the super rich end up paying 33.33% instead of the 30%, Apart from that not adjusting IT slabs is disappointing. I was expecting exemption of service tax for ISPs providing broadband access, :headshake:
Clarke Posted February 28, 2013 Posted February 28, 2013 He had two major constraints: election year called for increased social/rural spending and the deficit related threat of lower ratings. Hence nothing credible for middle class. Next budget will be populist. How do you know that ? Expecting a bigger alliance that has multiple smaller parties at the center that demands populist measures ?
Sachin=GOD Posted February 28, 2013 Posted February 28, 2013 How do you know that ? Expecting a bigger alliance that has multiple smaller parties at the center that demands populist measures ? If this Govt runs its entire term then it will have one more (temporary) Budget and that will be in Feb 2014 - just 1 or 2 months before the elections so that Budget has got to be a populist one and no allies of Congress will object to any populist schemes at that time.
Clarke Posted February 28, 2013 Posted February 28, 2013 If this Govt runs its entire term then it will have one more (temporary) Budget and that will be in Feb 2014 - just 1 or 2 months before the elections so that Budget has got to be a populist one and no allies of Congress will object to any populist schemes at that time. Oh ok. I would think this year's policy implementation would go much further into buying votes than promises made for the future which most of our rural/illiterate population wouldn't know much about.
BeautifulGame Posted February 28, 2013 Posted February 28, 2013 If this Govt runs its entire term then it will have one more (temporary) Budget and that will be in Feb 2014 - just 1 or 2 months before the elections so that Budget has got to be a populist one and no allies of Congress will object to any populist schemes at that time. Wouldn't EC guidelines come into effect meaning no populist scheme can be announced during that budget?
Sachin=GOD Posted February 28, 2013 Posted February 28, 2013 Wouldn't EC guidelines come into effect meaning no populist scheme can be announced during that budget? the last time as well the EC guidelines were into effect but the Govt still brought a populist Budget which went a long way towards its re-election efforts. Same will happen this time. Also, even if EC guidelines are there, the Govt can still make substantial additions to the existing schemes like MNREGA, Food Security Bill etc in order to gain public confidence before the elections.
ganeshran Posted February 28, 2013 Posted February 28, 2013 Wouldn't EC guidelines come into effect meaning no populist scheme can be announced during that budget? They won't introduce new schemes but increase the outlay of existing ones. Also any unpopular reform will be put on hold. That is why the hurry to get the price rise of diesel/petrol done and dusted by mid of this year. After that, there will be no rise till the elections get over in May 2014
Subeshkumar Posted February 28, 2013 Posted February 28, 2013 Although smart bu not very promising...
jairamesh Posted February 28, 2013 Posted February 28, 2013 Steady budget, not much to spend due to deficit, so not much Chindu could do other then token moves.
G_B_ Posted February 28, 2013 Posted February 28, 2013 Steady budget' date=' not much to spend due to deficit, so not much Chindu could do other then token moves.[/quote'] surely he could reform sectors? where are the big ticket reforms in this budget? Why isnt there a plan to sell of state assets in publicly traded companies to 51% and use the proceeds to build infra? Its a timid budget at a time when India needs to think outside the box when growth is touching 5% from a high of 9.3%.
saneindian Posted February 28, 2013 Posted February 28, 2013 SG next year there will not be a full budget but a vote of account. The farm loan waiver was announced with the 2008 budget IIRC which similar to today's budget, was an year before the general elections. This govt will perhaps make some big ticket announcement a few months before it wants to go for the elections without any budgetary support for it.
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