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Budget 2013: Time for a responsible budget

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(Any opinions expressed here are those of the author, and not necessarily of Thomson Reuters)

Finance Minister P. Chidambaram has promised a “responsible” budget this time around. According to Webster’s dictionary, “responsibility” is associated with a legal or moral accountability, reliability, trustworthiness in relation with some burden.

What would this possibly mean for the budget’s key stakeholders — business, the middle class, investors and voters?

The UPA government has made welfare spending its primary electoral plank, which was activated a year before the financial crisis of 2008/09. Considering that election fever will take over by the middle of the year, let’s hope Budget 2013 will demonstrate responsibility when dealing with electoral interests.

India Inc hopes for action on GST

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(The views expressed in this column are the author’s own and do not represent those of Reuters)

India Inc has time and again expressed its desire for early implementation of Goods and Service Tax (GST). While implementing GST may take at least a year, the 2012 budget will clearly indicate the Centre’s seriousness in implementing GST.

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