The Hindu Business Line : Reading the Budget can be taxing

THE Budget is barely days away. On Monday, loaded vehicles will taxi into Parliament precincts with Budget documents, even as we wonder what the taxing provisions will be. More than the length of the Minister's speech, and the money-pinching part of the proposals, we may have to endure a fair dose of taxing English too.

Let's take last year's Budget Speech and spot instances of linguistic gymnastics. "Although there are short-term pressures on prices, the outlook for the year is benign and the Government is fully alert," is a line that can put some not-so-benign pressure on your alertness. "Sequencing the measures in an appropriate fashion and continuing the reform process, which ushered in the era of rapid growth, are the main challenges," is another challenging thought.

When assaulting poverty, there was the talk of a "win-win strategy" that is "the keystone of the economic policy framework," and also of the poor having the "first charge." The Finance Minister said: "The poor want jobs for their children: we shall ensure that through higher investments, and through targeted intervention, jobs are available to them." If you thought he was talking about facilitating child labour, you may not be alone.

"There is a need to ensure that unemployment does not take a heavy toll on the poor people," was not about a heavy levy or tax. Elsewhere in his speech, Chidambaram assured of "special care" in laying down "the guidelines for the programme so that the money and labour expended result in durable and visible assets benefiting the whole community," so we shouldn't be complaining about other programmes that are given "usual care." Take courage to read para 63 of the speech that begins thus: "There is, of course, another side to the public sector. This side is beset with problems, and we must address them with responsibility and courage."

Leaving aside the `side' for it seems to remain obscure, let us travel to the Finance Bill where there's lot more work to do to understand.

"In Section 198 of the Income-tax Act, for the portion beginning with the words and figures `the provisions of 192' and ending with the word, figures and letter `section 192D', the words `the foregoing provisions of this Chapter' shall be substituted," reads clause 37. An explanation guides that the amendment is "consequential to the insertion of a new section 194LA in the Act." The LA provision is not about Los Angeles but about "payment of compensation on acquisition of certain immovable property."

To wrap, here is a long sentence toward the end of the `securities transaction tax' chapter: "Every rule made under this Chapter and every notification issued under this section shall be laid, as soon as may be after it is made or issued, before each House of Parliament, while it is in session for a total period of 30 days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or notification or both Houses agree that the rule should not be made or the notification should not be issued, the rule or notification shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule or notification."

If, as they say, `a fine is a tax for doing something wrong' and `a tax is a fine for doing something right,' reading the fine print of the Budget could be taxing, unless tax is fine with you or vice versa.

ExParte@TheHindu.co.in

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