
Budget 2013-14 :
* Fiscal deficit seen at 5.2% of GDP in 2012/13* Fiscal deficit seen at 4.8% of GDP in 2013/14* Faced with huge fiscal deficit, India had no choice but to rationalize expenditure
Tax credit of Rs 2,000 for persons with income up to Rs 5L; 10% surcharge on super-richGiving small relief to tax payers, finance minister P Chidambaram on Thursday announced a tax credit of Rs 2,000 for persons with income up to Rs 5 lakh. The...