The document discusses several announcements made in the Indian budget including: an additional tax deduction for first-time home buyers, the establishment of a Rs. 1000 crore fund for women's empowerment, a 10% surcharge on individuals earning over 10 million rupees annually, increased taxes on items like mobile phones, cigarettes and motorbikes, maintaining the current income tax slabs, committing Rs. 1000 crore to establish a bank for women, and clarifying that a tax residency certificate from Mauritius is not sufficient to claim tax benefits in India. The fiscal deficit for 2013-14 is projected to be 4.8% of GDP. In conclusion, it is assessed that this was not a populist budget and

8. Additional tax benefit
• Person taking a home
loan for his first home
during the period 2013-
14 will be entitled to an
additional deduction
of Rs. 1 lakh

9. Nirbhay FundS
• Rs. 1000-crore
Nirbhaya Fund
announced for the
empowerment of
women
• ,

10. A bit of Prem
• Proposes surcharge of
10 point on rich
taxpayers with annual
income of more than
10 million rupees a
year

11. GEN X and Y
• Mobile phones, dinning
out, cigarettes, SUVs,
motorbikes, set-up
boxes get expensive

12. NO IT FRESH IT REBATES and FISCAL
DEFICIT REDUCED
• The current slabs were • Fiscal deficit seen at 4.8
introduced last year. point of GDP in 2013/14
Hence there is no case of
•
revising either (Read)

13. ALL WOMEN BANK
• Committing an initial
capital of Rs 1,000
crore for this bank,
Chidambaram even
invited all Members of
Parliament to its
inauguration, once it
gets necessary
approvals and licence
from the Reserve Bank,
by October 2013.

14. Why sensex tanked
• Stipulating explicitly
that the tax residency
certificate (TRC)
issued by Mauritian
authorities is not in
itself a sufficient
condition to claim tax
benefits on
investment profits in
India.

25. Conclusion
NOT a populist budget
Fiscal deficit of India is ranked 148/150
amongst the emerging Markets
It has not raised the opinion globally
IT Sector not given any boost
By Col (Retd) AE Charles
Nehru Institute of Management Studies
Coimbatore 641105