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Union Budget 2013

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Budget 2013: Chidambaram nets big fish
Budgets presented in the run-up to elections, whether in the pre or post-reforms era, have tended to showcase how much the government is doing for the common man.

Union Budget 2013: Shockwaves on the Rich-ter scale, crorepatis clubbed with 10% surcharge blow
P Chidambaram decided to take a leaf out of the Warren Buffett rule book by whacking the wealthy with a rich tax, though he said it was only for the period of a year.

Union Budget 2013: Chidambaram has it covered for insurers
Insurance CEOs are excited about the proposals announced by the finance minister that make it easier to distribute policies.

Union Budget 2013: Govt refuses to learn from flop spectrum sale

TNN | | The government has finally acknowledged that it has failed to mop up the expected Rs 40,000 crore from spectrum sale but has refused to learn from its experience.

Union Budget 2013: Govt refuses to learn from flop spectrum sale

TNN | | The government has finally acknowledged that it has failed to mop up the expected Rs 40,000 crore from spectrum sale but has refused to learn from its experience.

Union Budget 2013: Smart cities along industrial corridors to start taking shape

TNN | | Work on the first two smart industrial cities along the Delhi-Mumbai Industrial Corridor (DMIC) — Dholera in Gujarat and Shendra Bidkin in Maharashtra — will start soon.

Union Budget 2013: On offer: one-time amnesty for service tax defaulters

TNN | | Finance minister P Chidambaram announced a one-time tax amnesty scheme for defaulters of service tax who have not been filing their returns.

Union Budget 2013: Handsome hike for rural development, but will it be spent?

TNN | | Finance minister P Chidambaram announced a 46% hike in rural development funds despite giving a modest increase over last year’s allocation of Rs 74,000 crore.

Union Budget 2013: Now, regulator to monitor road sector

TNN | | Now, there will be a regulator for road sector that will address concerns of road users and private developers as well.

Budget 2013: BJP, Left, Trinamool and Aam Aadmi Party reactions

TNN | | “It is unimaginative, dull and boring. There is nothing for women, youth and poor… neither is there anything to boost agriculture or for controlling prices." Sushma Swaraj (BJP), leader of Opposition in Lok Sabha.

Union Budget 2013: Crorepati MPs grin and bear proposal to tax super rich

TNN | | In the end, the FM did deliver on his threat to impose a tax on the super rich — 42,000-odd individuals with declared incomes of more than Rs 1 crore — which, going by affidavits scanned by the Association of Democratic Reforms, includes 315 crorepatis in the current Lok Sabha.

Union Budget 2013: Major fund infusion for minorities

TNN | | The Union Budget has hiked the allocation for minority affairs ministry by 60% of what it spent in 2012-13, a big increase considering the fiscal crunch staring the government.

Union Budget 2013: Fund set up boost affordable urban housing

TNN | | Considering the huge shortage of affordable housing in cities and towns leading to growth of slums, the government announced setting up of an Urban Housing Fund to refinance banks and financial institutions for retail loans in urban areas.

BudgetBlogs

Are rich Indians taxed too lightly?
Pyaralal Raghavan: This year the focus is not on cut in direct and indirect taxes, but on a hike in income taxes on the super rich.

Tax illiteracy is no solution for budget deficits
SA Aiyar: Chidambaram's tax officials are so desperate to collect revenue (to reduce the fiscal deficit) that they are issuing tax demands that defy logic. This can only discourage investment.

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