The Hindu Business Line : Tuesday, March 01, 2005

No dream effort this
AHEAD OF THE Union Budget, the question corporate heads pondered over was: "Will the Dream Team deliver?" On the evidence of the nearly-two-hour Budget presentation by the Finance Minister, Mr P. Chidambaram, the answer would be, "It has not ... More

BUDGET

Making the right noises
THE Finance Minister has reiterated the full support of the Central Government for the implementation of VAT from April 1, 2005, and the commitment to compensate the States as per the agreed formula, in the event of a ... More

Politically astute
SHORTLY after assuming office as Finance Minister, Mr P. Chidambaram, said that he would like to be remembered as the Investment Minister. It is too early to say if savings and investment ratios continued their ... More

Holistic formula for growth and investment
Mr Chidambaram deserves to be applauded for the ingenuity with which he has brought about a dynamic equilibrium in "an inclusive Budget" among three sets of imperatives: Addressing the concerns of the poor, enabling farmers to rise to their full pote ntial and boosting the morale of business and industry. More

Union Budget 2005-06: Positive approach to fiscal consolidation
The Finance Minister has delivered a Budget that favours investment, job creation, minority welfare as well as rural and urban development. It is one of the best Budgets of recent times with the right emphasis on infrastructure and employment, provis ion of health and education, while stressing fiscal consolidation. But the pressure on State Governments to implement the various schemes has to continue unabated if the vision of the Budget is to be implemented, says S. Venkitaramanan. More

Bigger shopping bags
A rise in disposable income will strengthen the ongoing consumption boom. More

Building on promise
The much-awaited deployment of forex reserves in infrastructure development is welcome. More

Cartoon
More

That's IT for now
The vision to make the homegrown IISc a world-class institution gives me joy. More

Shot in arm for infrastructure
FOR the corporate sector, this budget promises to deliver a significant boost. A number of initiatives whose impact is quite predictable and not subject to the whims of an inefficient delivery system will add to both ... More

Building from brass-tacks
With the presentation of the 2005 Union Budget, a silent revolution is on its way. Sectors that are crucial to the country's growth such as agriculture are in for a complete overhaul, as well as macro-economic growth in the fields of education, healt h and rural development has been accorded focussed attention. More

Contouring new growth paradigm
INDIA now has the potential to grow at a high trajectory and change the destiny of over a billion people— one-sixth of humanity. This calls for unleashing productive energies, creating a new paradigm for economic ... More

Forward movement in social spending
BUDGET 2005-06 was the first major test for the Finance Minister, Mr P. Chidambaram, to demonstrate his commitment to the National Common Minimum Programme. Though falling short of our expectations in terms of the ... More

Revving up hopes
THE Finance Minister has announced certain far-reaching measures for tax reform and expenditure control, but this budget stands out for its measures to promote investment. From creating a Special Purpose Vehicle to ... More

Not a strong enough dose
Special concessions for the pharma industry, which the FM described as a sunrise industry, are regrettably absent. More

Tangible steps to growth
WITH A comprehensive set of broad-brush as well as focused measures, Budget 2005-06 aims at cementing the platform to propel the Indian economy on a sustained growth trajectory. The Finance Minister, Mr P. Chidambaram, must be complimented for ... More

... promises to keep
In sum and substance, the budget proposals will help every sector, agriculture, industry, and services. It will help in generating more employment, increasing production and curbing inflationary pressures. It is left to be seen whether the administra tive reforms in the department of revenue are, in fact, carried out. More

Poised for growth
The focus on infrastructure investment and increasing importance of rural investment will provide a thrust to telecom, roads, ports and airports. More

A fine balancing act
In his budget proposals for 2005-06, Finance Minister Mr P Chidambaram has pulled off the tricky business of balancing reform agenda and social issues successfully. Though he has stayed clear of bold measures such as labour reform and divestment, and though the budget clearly does not have any big-bang moves, there is enough reason for everyone to be happy. More

Human face, yes, but whither reforms?
THE UPA Government, when voted to power, had promised reforms with a human face. The Budget does have a human face but misses out on reforms. However, the Finance Minister has undertaken a few initiatives for ... More

Bye-bye cash, welcome credit card
WHETHER the intended tax on cash withdrawals really helps control tax evasion or not one can be sure that the credit card companies will be rubbing their hands in glee; after all, you cannot pay cash to buy a TV or a fridge or even an expensive ... More

EXCISE AND CUSTOMS

Alignment of tariffs welcome
IN A WELCOME move, the Government has revamped the excise tariff by introducing an eight-digit classification and, thereby, completely aligning the excise tariff with the Customs tariff, which is again aligned with the ... More

TAXATION

More workload for taxman
THE Finance Minister, Mr P. Chidambaram, has pleased the vast body of taxpayers by raising the exemption limit and revising the tax slabs. True to the promise he made last year, the Finance Minister has now come up with ... More

A survival guide to PC-speak
SINCE not everybody as smart as the whiz kid on the finance channel, here is a quick help to those who got stumped by the lingo that the FM deployed in his Budget speech. Let's start with `liquidity overhang' at the ... More

INCOME TAX

Hurrah from both MIG and HIG
WHILE the middle-income group (MIG) has every reason to be pleased with the sizeable reduction in their income-tax liability, the higher-income group (HIG) can heave a sigh of relief now that the Finance Minister has ... More

Tax planning avenues
BUDGET 2005, prima facie, seems attractive from the personal taxpayer angle. The basic limit has been enhanced to Rs 1 lakh, and to a further Rs 1.25 lakh for women and Rs 1.50 lakh for senior citizens. This ... More