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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
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.
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.
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
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.
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.
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.
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
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.
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
The macroeconomic context to this year's Union Budget was very challenging. Earlier, the Prime Minister had reminded us about our predicament in 1991. While the present situation is not as dire, the challenge of the twin deficits loomed large, writes KM Birla
. What they said
| A hug from honchos
Hailing the budget, Prime Minister Manmohan Singh on Thursday said it would reverse the pessimistic mood and lay the road map for investments. He also expressed confidence of returning to 8% growth within three years. PM applauds budget
Aam aadmi had widespread expectations from finance minister P Chidambaram, hoping that this year's budget would provide relief in terms of reduction in tax rates and encourage household savings through additional deductions to the salaried class.
This was the tenth and the last budget of the UPA government. In the span of these 10 budgets, growth rate has declined from more than 8% to 5%, fiscal deficit has increased from 2.5% of the GDP to more than 5%, the current account deficit at 5.4% is at an all-time high. Yashwant Sinha writes.
With the backdrop of burgeoning fiscal deficit, the Budget provided policy insights and directions for growth and sustainable development of the economy which could translate into social well-being for all.