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Bahrain Tribune Daily Newspaper, Bahrain |
 | | Finance Minister Palaniappan Chidambaram’s cautious budget was less inflationary than some analysts had feared but, as expected, included no major measures to cut the worrying fiscal deficit, seen as a challenge to sustained high economic growth. |
 | | Chidambaram’s budget increases spending in the current fiscal year by 100 billion rupees ($2.2 billion) over the previous government’s interim budget in February, largely to deliver the Congress-led coalition’s promised “new deal” for rural India, which brought it to power. |
 | | Chidambaram did not impose a service tax on road transport, which would have stoked inflation in the vast nation, as analysts had feared. |
| www.bahraintribune.com /ArticleDetail.asp?CategoryId=5&ArticleId=37387 (536 words) |
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