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Tuesday, Nov 30, 2004

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Budget secrets

The Budget documents are treated as highly classified until they are laid on the table of Parliament. The really secret part contains tax proposals.

Any insider knowledge can help some private parties make money. But there are countries, such as the US, where tax proposals are debated widely before they are incorporated in the Budget. This practice is desirable in India now because the Government is made up of a coalition of parties.

A. Seshan

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