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Tomorrow is the Big B day. Here I am not talking about Mr. Amitabh Bachchan, but I am talking about the UPA2's first annual budget from which lot of expectations are there particularly looking at present economic condition. But I don't know, due to high fiscal deficit & dependency (or coupling effect) of exports on world (in particular US) economy, what Mr. Pranab Mukherjee is able to do!!!

But there are certain expectation from him in the areas of Disinvestment Side (At least in loss making PSUs to start with), education & higher education reforms, pension bill pending, raising FDI stake insurance sector & etc. Again everything depends whether this time they will be able push the reforms through both the houses or not?

Anyway today's my posting is related some articles I got in rediff about budget & tax benefit under 80C extension.

Here is an article which gives basic idea about what is budget, revenue budget, capital budget & fiscal deficit.

Some days back I think I posted an article from Indian Express which talked about the possibility of increasing the exemption limit under the 80C. For that I got one more article for you guys. I think Mr. FM really think about this particularly in this kind economic recession. Since India has massive capacity to consume the goods/services domestically. And that's exactly what an economy needs in the time of crisis, spending from both the ends Governments & Public. Otherwise there is possibility Paradox of Thrift as Mr. Keynes had explained way back in 1930s ["If a population saves more money (that is the marginal propensity to save increases across all income levels), then total revenues for companies will decline. This decrease in economic growth means fewer salary increases and perhaps downsizing. Eventually the population's total savings will have remained the same or even declined because of lower incomes and a weaker economy."]