Not with higher taxes on the super-rich, but by keeping tax rates at low and reasonable levels.
The deferment of GAAR sends a strong signal of relief for foreign investors. But can India's markets march on only one leg - that of FIIs?
The political parties don't represent me, they represent their own interest.<br /><br />
Chidambaram is reduced to keeping market players in good spirits because virtually all avenues of raising revenue or scaling down big-ticket expenditure items are closed to him. FII inflows are his only bet to revive the economy.
The government will delay by two years implementation of controversial rules on tax avoidance to 2016, a decision which earned a positive market reaction and is likely to help attract more capital inflows.
Today's papers had a sprinkling of hints on which way the finance minister may be leaning, and the big revenue raiser may be an increase in indirect taxes, not direct.
If the Railway Minister can hike fares and freight without a grandstanding budget speech, why waste time over it?
Umost probably is eyeing a Robin Hood-like image, which would mean the real super rich will be taxed to serve the middle and lower classes.
In 2008, Chidambaram set the stage for messing up India's finances with his loan waivers and freebies after four good budgets. He cannot afford another mess-up in pre-election budget 2013.
Fitch ratings warning on India's slowing economic growth and the possibility of a rating downgrade in the next one year sent the rupee lower today
During their customary pre-budget interaction with Finance Minister P Chidambaram, they also recommended the introduction of inheritance tax as well as a widening of the tax base to increase revenue and contain fiscal deficit.
In a pre-budget consultation with Finance Minister P Chidambaram, bankers also sought permission to issue tax-free bonds like other financial institutions for raising funds and augmenting business.
NAC member Aruna Roy has thrown a curve ball at Chidambaram and demanded that pre-budget consultations with social sector representatives and business should be held jointly.
In difficult times, governments tax their people more. So, gear up for an increase in your taxes in next year's budget, as the government is in dire straits.
Ahead of Budget 2013, which will require him to walk a tightrope, P Chidambaram is assembling an all-star economic policymaking team.
Facing a huge budget deficit, the FM may resort to higher taxes. But our problem is we already pay a lot, but the money garnered is wasted
Nupur and Rajesh Talwar, who have been sentenced to life imprisonment for killing their teenage daughter Aarushi and house help Hemraj in 2008, have approached the Bombay High Court seeking stay on the release of a movie purportedly based on the murder case.
Railway minister Pawan Kumar Bansal announced on Wednesday introduction of 19 new train services, extension of three and increase in frequency of five trains acceding to demands of MPs.
The gesture is a form of gratitude towards the sacrifice made by the martyrs from the Indian Railways.
Firstpost columnists Vivek Kaul and Arjun Parthasarathy, and editors R Jagannathan, Saurav Majumdar, and Venky Vembu discussed the budget in a Google Hangout yesterday. Following is a summary of the debate.
Chidambaram's references to Modi's development model is a red herring, just as his offer to reclassify Nitish Kumar's Bihar as special category state is a trap.
People who grew up in rural areas without banks, or in places where petty bankers were too highhanded to entertain the illiterate villagers, know where to go for the safe-keep of their precious money: that little window at their neighbourhood post office.
Our Finance Minister allocated some special funds for women and set up an all-women bank. But will that really help women?
CPI(M) general secretary Prakash Karat today said that the Union budget has "failed" to address the major concern of the masses and questioned the reason behind cutting oil subsidy and increasing the tax concession for the corporate groups.
The Budget speech of the FM for many parts sounded like a speech written by a women’s liberation activist or a charming gentleman who knows how to please women folk with sweet talk.
The day after Budget is more important than Budget day. Simply because it takes us all time to read between the lines of a long speech. Here is a round-up of the best arguments that the experts have made while praising or railing PC's speech.
The nation watched P Chidambaram present his budget. But it was actually a casting call for a brand new edition of Snow White and the Seven Dwarves. Guess who gets to be the new Snow White?
The Finance Minister's measures for women's development hasn't struck the right chord with women across the country.
Mobile phones are set to get more expensive this year. P Chidambaram proposed that the import duty on mobile phones that cost more than Rs 2000 would go up.
Finance Minister P Chidambaram presented the Union Budget 2013-14 today. Here's how the Indian corporates reacted to the budget. Check the captions for their quotes.