Chidambarams bonanza for middle class
Finance Minister P. Chidambaram's wife Nalini, their son Kartik and daughter-in-law at the Parliament House after the presentation of the Union budget on Friday. NEW DELHI: In a politically-crafted budgetary exercise ahead of the general election next year, Union Finance Minister P. Chidambaram on Friday announced a massive Rs.60,000- crore loan waiver programme to rid four crore farmers of their financial liability. The Minister also gave higher-than-expected exemptions to income-tax payers along with restructuring of tax slabs. He put no fresh burden on the corporate sector even as he scaled down excise duties on a number of items to stimulate demand, production and economic growth. Striving to placate not only the aam aadmi but also all other sections, Mr. Chidambaram, while presenting the Union budget for 2008-09