Non-taxing Budget

Finance Minister P Chidambaram may have spared industry a lot of trouble by not making too many changes in tax policy in the recent Budget. But by doing so, he has disappointed his own officials. Knowing Chidambaram's penchant for new taxes and cracking down on tax evaders, revenue department officials made many proposals to this effect. However, in internal Budget meetings, the finance minister made it clear he did not want too many changes in the law in the interest of stability. Naturally, Chidambaram killed all the excitement around Budget-making, but in retrospect, the officials would be happy that he ensured them a relaxed post-Budget period unlike previous years.