Very few budgets in recent times have had such low expectations. P Chidambaram’s 2013 budget has just two basic expectations – that he meets the fiscal deficit number he promised (5.3 percent), and that he doesn’t do anything to harm the economy by overtaxing any critical segment.
While there has been a lot of talk about taxing the rich and also the reintroduction of an inheritance tax – which can’t be discounted, for Chidambaram like inventing new taxes – the betting is that he will wield the tax axe lightly this year and scatter little somethings in many directions in a year in which good politics has to be reconciled with not-too-bad economics.
Firstpost spoke to the best economists, businesspersons and market mavens for recommendations for the Finance Minister when it comes to Budget 2013.
Everyone agrees that this one is going to be one of P Chidambaram’s toughest tests. Is he going to pass it or flunk it? We’ll know on 28 February. The experts Firstpost spoke to give you a peek into what will work, and what won’t.
Watch the video above to see the best advice Chidambaram will ever get before he presents the Union Budget 2013-2014.
To watch all the videos individually, click here