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Budget Won't Be Flashy, But Realistic

As UPA II presents its final Union Budget prior to the Lok Sabha elections, the question is whether Finance Minister P Chidambaram be capable to make sure financial discretion in an election year or will political coercions find out his economic choices.

Even as the question is elevated, sources in the Finance Ministry tell that the Budget 2013 will not be "flashy", just "realistic" and "practical". "Anticipate a realistic and practical budget. It will not be overly flashy. Flab from social sphere schemes may be shred. Finance Minister may declare an all women's bank. The financial plan will focus on schemes for women and young," the sources said.

Talking on subsidies, the sources said that whilst focus would be less on them, there would be adequate elbow room for the Food Subsidy bill. Direct cash transfer is awaited to be the large budget rotation, the sources added.

Meanwhile, the markets flowed ahead of the Budget, with the Sensex initiative 160 points up and the Nifty increasing 50 points.

What now continues to be seen is and will P Chidambaram do a repeat of the 1997 dream budget that lighted the economy on the development track? Will the super rich be imposed and the middle class acquire some tax and investment relief? How will the finance minister hike revenues for planned big ticket social sector programmes?

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