Saturday, March 8
Trying to decipher the Budget
A.N. Shanbagh,, March 8, 2003

Usually the annual 'Budget' exercise runs a typical course -- it is high on promise but falls low on action. This time, things were ever so slightly different.

The enormous dialogue and debate generated by the Kelkar committee raised people's hopes and expectations. However, true to the form of his predecessors, our debutante finance minister fell woefully short on deliverance.

The common man may just be feeling a little bewildered -- there is little in the Budget to either cheer about but, at the same time, there is nothing much to complain about either.

Dividends are made tax-free but there is a distribution tax, so rates on small savings have predictably come down. At the end of the day, therefore, you win some, you lose some [...more]
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