Budget 2013: News, Views, Analysis on Union and Railway Budget of India presented by Hindustan Times

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Sun,26 May 2013

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Balanced budget boosts growth drivers

The Economic Survey ahead of the Budget 2013-14 observed containing the fiscal deficit was key to ensuring a virtuous cycle of growth, accompanied by measures to boost investments, enhance infrastructure, and promote productive jobs in small businesses, writes S Gopala Krishnan. Talking heads | 8 steps to 8% growth | Elephant on a roll

Help SMEs kick-start economic growth

India could become the seventh largest economy by 2017 and a five trillion economy by 2025. This statement by the finance minister has filled us with a lot of confidence - some changes for the better are definitely around the corner.

Long-distance runner

The budget bears the imprint of a person who is concerned with restoring high growth and at the same time make it inclusive and sustainable, writes Pulin B Nayak.

Chidambaram trending: how the web reacted to budget speech

Finance minister P Chidambaram's speech met with criticism and with anger. Twitter wits attack him for taxes on making smoking and eating out more expensive.

Budget is pragmatic and credible

Budget 2013: top ten reactions

The 82nd annual Budget presented by Union finance minister P Chidambaram in Parliament today has focussed on a number of areas and has brought changes in several arenas as well. Here are some of the reactions from Indian leaders and business heads.

Balanced budget boosts growth drivers

Budget lacks strategy and vision for India's development: Modi

Gujarat chief minister Narendra Modi said that the budget is the reflection of the non-performance during UPA-II's five-year rule and it indicates that it has no connection with the reality of the common man.

Govt gets it left and right

Opposition parties rejected the Union Budget 2013-14 on Thursday, the Bharatiya Janata Party (BJP) over lack of "ambition" and the Left over checks on expenditure to reduce fiscal deficit despite forgoing revenue from corporates. HT reports.

Budget lays roadmap for investment: PM

Hailing the budget, Prime Minister Manmohan Singh today said it would reverse the pessimistic mood and lay the roadmap for investments as he expressed confidence of returning to eight per cent growth within three years.

Don't tax the rich more: industry

Indian industry leaders on Wednesday urged finance minister P Chidambaram to not impose a tax on the 'super rich', and to maintain a stable tax regime to boost investor sentiments and capital inflows as the economy appears on track for its worst growth in 10-years. HT reports.
FM meets state FMs

Budget must focus on boosting infrastructure investment: CII

The upcoming union budget should be focused on boosting private as well as the government's investment in infrastructure, the Confederation of Indian Industry (CII) said.

Govt set to double allocation for schemes related to women’s safety

Highlights: Budget 2013 »

Expect higher revenue next year: Chidambaram
Unclear what the expense on food subsidies be at this stage: Chidambaram
Fuel subsidy likely to be lower this year: Chidambaram
Immediate goal is to achieve growth rate of 6%: Chidambaram
We have to be patient and wait for the economy to pick up: Chidambaram
We have not put impossible burdens on people: Chidambaram
The only way to contain current account deficit is to increase exports: Chidambaram
Confident that RBI will do it's part: Chidambaram
Economy is challenged in a number of ways: Chidambaram
This is a lollypop election budget: CPI leader Gurudas Dasgupta
Budget has ignored SC/ST: Mayawati
Budget will only benefit industrialists, not common man: Mayawati
Budget will give impetus to Bihar's demand for special status: Nitish Kumar
FM has taken important steps to reverse pessimistic mood with regard to our economy: PM
There is need to convert challenges into opportunities: PM
The Finance Minister has done a commendable job: PM
Direct Benefit Transfer scheme to be rolled out
Ships and vessels exempted from excise duty
Direct tax code to be introduced in budget session of the Parliament
Set-top box import duty hiked
Gold duty limit raised to Rs. 50,000 for men; Rs. 1 lakh for women
100% customs duty on luxury cars
Increase in import duty on high end bikes from 75% to 100%
6% duty on mobile phones worth more than Rs. 2000
Excise duty on cigarette, cigar and cheeroot increased by 18%
Import duty on raw silk hiked to 15%
Luxury imported items to cost more
Donations to National Children's fund will be eligible for 100% tax deduction
No plans to revise direct taxes
No change in customs and excise duty
Tax credit of Rs. 2000 for those with income upto Rs. 5 lakh
Education cess at 3%
donations to be tax free
Surcharge of 10% on individuals, companies whose income is above Rs. 1 crore per year
No revision in tax slabs
Planned expenditure to be 33% of total expenditure
Rs. 1,000 crore allocated to women safety fund
Defence budget allocation increased to Rs. 2 lakh crore
Insurance and pension funds can now directly invest in debt funds
Domestic workers, Anganwadi workers, others to get group insurance
13 public sector banks to get Rs. 14,000 crore
Propose to provide Rs. 14,000 cr for capital infusion in public sector banks
Inflation indexed bonds and NSCs to be introduced
JNNURM is being continued in the 12th Plan; Rs. 14,873 cr to be provided to the Mission
Rs. 33,000 crore to be allocated to MNREGA
Rs. 6000 crore for rural housing fund, Rs. 2000 cr for urban housing fund
Two new ports to be built in West Bengal and Andhra Pradesh
All towns having population of 10,000 to get LIC office
Rashtriya Swasthya Bima Yojna to be extended to rickshaw pullers and rag pickers
List of eligible securities will be enlarged: Chidambaram
SEBI to simplify procedures for entry of foreign portfolio investors in India: Chidambaram
India's first all-women public sector bank to be set up
All public sector bank branches to have ATMs
Focus on modernisation of powerloom sector
Propose to continue with the technology upgradation, funds scheme for textile sector: Chidambaram
Rs. 1650 cr allocated for AIIMS like institutes
Natural gas pricing policy will be reviewed: Chidambaram
Person taking home loan for the first time to get tax cut of Rs. 1 lakh
Regulatory authority to be set up for road sector
Rs. 17,700 crore to be allocated for Integrated Child Development Scheme
Rs. 5000 cr allocated to NABARD
Income level of Rajiv Gandhi equity schemes increased by Rs. 2 lakh
Rs. 80, 194 crore allocated for rural development: Chidambaram
Rs. 25,000 cr to be raised through tax free bonds: Chidambaram
Rs. 10,000 crore for food security bill promised by UPA: Chidambaram
Infrastructure debt fund to be encouraged: Chidambaram
Rs. 37,330 cr allocated to ministry of health and family welfare: Chidambaram
Rs. 41,000 allocated for scheduled caste welfare: Chidambaram
Rs. 27,49 cr to be allocated to the agriculture ministry: Chidambaram
Plan expenditure in 12th Five Year Plan revised to Rs. 14,30,825 cr or 96% of budgeted expenditure
Scholarships for students from SC/ST, minority communities: Chidambaram
Rs. 110 cr to be allocated to department of disability: Chidambaram
Increased allocation for safe drinking water and sanitation: Chidambaram
Increased allocation for mid-day meal schemes: Chidambaram
Rs. 65,000 cr allocation for education schemes: Chidambaram
Rs. 110 cr to be allocated to department of disability: Chidambaram
Need $ 75 billion to bridge current account deficit: Chidambaram
2013-14 budget has sub-plans for SC, ST, youth and women: Chidambaram
Foreign investment imperative for growth: Chidambaram
Our economy has slowed down after 2010: Chidambaram
No choice but to cut spendings to control inflation: Chidambaram
China and Indonesia are growing faster than India: Chidambaram
Getting back to 8% growth is a challenge for country: Chidambaram
Our goal is higher growth: Chidambaram
Between 2004-2008 and again in 2009-10, 2010-11 the growth rate was over 8%: Chidambaram
P Chidambaram begins budget address in Lok Sabha
Cabinet endorses Union Budget 2013-14, to be presented in Parliament shortly.
Finance minister P Chidambaram reaches North Block.
Chidambaram set to present India's 82nd national budget.
Today's Union Budget will be Chidambaram's eighth personal exercise.
It's two short of the record of 10 set by former PM Morarji Desai.
Since Independence, the country has seen a total of 25 ministers hold the finance portfolio.
India has also seen budgets - 65 normal annual budgets, 12 interim budgets and four mini-budgets.
Morarji Desai presented eight normal and two interim budgets.
Thursday will see Chidambaram equal the eight-budget track record of Pranab Mukherjee.
Chidambaram will surpass Yashwant Sinha, YB Chavan and CD Deshmukh who all presented seven budgets each.
PM Manmohan Singh and TT Krishnamachari have presented six budgets each.
Jawaharlal Nehru, Indira Gandhi, Rajiv Gandhi have presented one budget each.
Sensex closed up more than half a percent a day before the union budget 2013-14
It will be the eighth such personal exercise for him
Chidambaram set to present India's 82nd national budget in Lok Sabha