Not a game-changer, but not trivial

In putting together Budget 2013-14, Finance Minister P Chidambaram seems to have gone through a laundry list of different challenges facing the economy and done a little to address each. The drop in the financial savings rate, for instance, has been addressed through an increase in the eligible income limit for the Rajiv Gandhi Equity Savings Scheme. An investment allowance of 15 per cent for new investment projects has been proposed to spur investments and growth. A temporary surcharge on the "super-rich" has been geared to lend revenue and fiscal targets a degree of credibility.

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