India's Budget and Its Impact India's budget for the next fiscal year was unveiled last week. Many hoped there would be an announcement to fast-track the economy and to help the middle class survive the country's rising inflation. Finance Minister P. Chidambaram did try to provide a balanced budget, but he announced very few bold moves. Nothing too drastic can be done this year because it is the government's last budget plan before the country's elections in 2014."The purpose of a budget is to create the economic space and find the resources to achieve the socioeconomic objectives," Chidambaram said. "At present, the economic space is constrained because of a high fiscal deficit; reliance on foreign inflows to finance the current account...