New Delhi: As UPA II presents its last Union Budget before the Lok Sabha elections, the question is whether Finance Minister P Chidambaram be able to ensure fiscal prudence in an election year or will political compulsions determine his economic choices.
Even as the question is raised, sources in the Finance Ministry say that the Budget 2013 will not be "flashy", but "realistic" and "practical". "Expect a realistic and practical budget. It will not be too flashy. Flab from social sector schemes may be cut. Finance Minister may announce an all women's bank. The budget will focus on schemes for women and youth," the sources said.
Speaking on subsidies, the sources said that while focus would be less on them, there would be enough elbow room for the Food Subsidy bill. Direct cash transfer is expected to be the big budget pivot, the sources added.
Meanwhile, the markets surged ahead of the Budget, with the Sensex opening 160 points up and the Nifty gaining 50 points.
What now remains to be seen is - will P Chidambaram do a repeat of the 1997 dream budget that reignited the economy on the growth track? Will the super rich be taxed and the middle class get some tax and investment relief? How will the finance minister raise revenues for proposed big ticket social sector programmes?####Tweets about ”#Budget2013”
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