Budget 2013: FM faced heat on home turf

When Chidambaram presented budget on Thursday, there were sullen faces in treasury benches too

GN Bureau | March 1, 2013



A few minutes before the 2013 budget presentation in Lok Sabha on Thursday, finance minister P Chidambaram had troubled times from none other than six of his own senior colleagues in the cabinet.

As Chidambaram was explaining the salient features of the budget, he mentioned that the union ministers should spend more and more since it will lead to fiscal discipline.

No sooner had he uttered these words than he was confronted by a voice of dissent from union rural development minister Jairam Ramesh. Ramesh argued how Chidambaram could expect him to spend more when he is releasing percentage of annual allocation. 

Other than DMK minister MK Alagiri and minister of independent charge (environment and forests) Jayanthi Natrajan, 29 cabinet ministers and nine ministers of state were present at the customary meeting of the council of ministers at the PMO chambers where the finance minister presents the gist of the union budget minutes before he presents them before the Lok Sabha.

Phone call to Yashwant Sinha
“I wanted to jump out of the car when P Chidambaram called me last week. First I wanted to ascertain whether this is the original voice,” said senior BJP leader Yashwant Sinha, the former finance minister. The real story is that Chidambaram wanted Sinha’s suggestion on the recommendations of the standing committee on finance. Chidambaram made a mention of this conversation in his budget speech on Thursday.

SMS doing the rounds
On Thursday also, a CPM MP shared the script of a bulk SMS which has become a rage among the phone subscribers and have been read by more than 3 lakh people. The SMS reads:

“Amazing consistency of Rahul Gandhi: In Punjab, he named Amrinder Singh as CM candidate, people voted Akalis to power; In UP, he tore SP's manifesto, people made Akhilesh the CM;  In Tripura, he asked people to throw CPM out of the state, they made Manik Sarkar the CM for fourth consecutive term:)”

 

Comments

 

Other News

Here’s an I.D.E.A. for career growth and success

Success in today’s professional organisation is no longer solely determined by academic qualifications, technical expertise or years of experience. While these attributes do matter, organisations increasingly value individuals who demonstrate the right mindset and behavioural qualities. The ability

PM interacts with CEOs, founders of space startups

Prime minister Narendra Modi interacted with CEOs and Founders of 20 Space Startups at Seva Teerth on Friday.   CEOs of leading companies in the space sector working in diverse fields ranging from building rockets and reusable semi-cryogenic launch vehicles, avionics, satelli

From one cow to a dairy business

In 2012, Anita Dash wasn`t dreaming of building a dairy brand. She wasn`t studying business models or planning market expansion. Like countless mothers across India, her focus was on something much simpler: giving her children a better future.   At the time, her most valuable

Ethanol blending: The two sides of a story

India`s crude oil consumption is estimated to be around 88.5% imported from abroad. This one single figure is also responsible for why ethanol has become both an economic strategy and fuel policy at the same time. In an economy like India, which depends so heavily on foreign oil, any increase in internat

Food inflation: Not a macroeconomic statistic but a developmental indicator

India`s retail inflation shows a reassuring picture at first glance. According to the latest data, Consumer Price Index (CPI) inflation edged up to 4.38% in June 2026 from 3.93% in May 2026, but continued to remain within the Reserve Bank of India`s (RBI) target band of 4% (+/- 2%). However, beneath this

Skin in the game or masterful market timing?

When a company founder opens their personal chequebook to buy shares in their own business, stock markets usually applaud. To the average retail investor, it feels like the ultimate vote of confidence, a sign that the people running the show have real skin in the game and believe brighter days are ahead.

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter