The Finance Minister, P Chidambaram's quotes at the post-Budget news conference:
*Economy is challenged in a number of ways
*Another set of decisions and measures will be announced in reply to Budget discussion and Finance Bill in Parliament
*We have not come up with any burden on people or spooked market or investors
Main thrust of Budget is that we are following a fiscally prudent path, fiscal deficit will be contained
*In medium to long term, the only way to contain current account deficit is to increase exports*
FM says fiscal policy must do its part in containing inflation while hoping that monetary policy authority will also do its part
*I hope FY13—14 will be a better year in terms of growth, inflation control and investment
*Once we achieve growth of 6.1 to 6.7 per cent next year, we should aim at 7 per cent in 2014—15
*Fuel subsidy bill is likely to be smaller because we are correcting diesel prices
*Uncertainty are spectrum auction will be resolved and spectrum will be auctioned
*Cabinet will take a view on whether to go in for conciliation in the Vodafone tax case
*Food and fertiliser subsidy will be last to be transfered through the Direct Benefit Transfer (DBT) scheme
*Residual stake sale in non—government companies to give Rs 14,000 crore:
*Bulk of Rs 13,300 crore gains from direct taxes to come from 10 per cent surcharge on 42,800 super—rich individuals
*The new PSU bank for women will employ and lend predominantly to women
*I am absolutely confident Budget will pass, Finance Bill will also pass
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