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Budget Is a Clever Attempt to Mislead Public: AAP

-Outlook Aam Aadmi Party today alleged that the Budget presented by Finance Minister P Chidambaram was a "clever attempt to mislead" public ahead of elections as it offered little remedy for the key problems facing the Indian economy. In a statement, the party claimed that the common man has reasons to feel "disappointed, if not cheated" with the Budget. "The Union Budget presented by the Finance Minister is a clever attempt to mislead...

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Hope trumps realism-Paranjoy Guha Thakurta

-The Asian Age Sonia Gandhi’s economic and political ideology may have apparently triumphed over that of Manmohan Singh. The neo-liberal finance minister Palaniappan Chidambaram may be conveying an impression that he’s turned socialist with a vengeance by increasing taxes on the rich in the run-up to the 16th general elections. But the truth is that Mr Chidambaram has made certain assumptions about subsidies, inflation and the expected growth of gross domestic product...

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Slash subsidy, raise prices of diesel and LPG: Economic Survey

-PTI Claiming that the "downturn is more or less over", the pre-Budget Economic Survey on Wednesday projected an optimistic 6.1 to 6.7 per cent growth in the next fiscal and made a strong call for cutting subsidises. While pegging the GDP growth at an estimated 5 per cent for the current fiscal, the Survey tabled in Parliament by finance minister P Chidambaram said "...the overall economy is expected to grow in the...

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Budget 2013: Super rich to pay more but no changes in income tax rates or slabs

-CNN-IBN Finance Minister P Chidambaram plans to get more income for the government by taxing the super-rich and the corporate sector even though he left untouched income tax rates and slabs. Chidamabaram allowed some relief for those who earn between Rs 2-5 lakh per year by announcing that they would be granted a tax credit of Rs 2000 and left most of the items untouched by not tinkering too much with...

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Cash transfers to tame food price spiral-Ashok Gulati and Shweta Saini

-The Economic Times Food inflation in India, as measured by food articles price index, has averaged 11.3% for the period FY 2008-09 to December 2012, with a maximum of 15.6% in 2010-11 and minimum of 7.3% in 2011-12. In December 2012, wheat prices stood 23% higher than in December 2011, and rice prices 17% higher in the same period. Although this spurt in wheat and rice prices in the face of...

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