The negative list implementation itself adds $ 3 bln to the kitty and receipts are close to $12 bln so the Service Tax receipts in FY 2013 could easily be $20 bln or INR 1 Lakh Crores and allow Pranab da to get away with only 10% subsidy reduction in Diesel ($3 bln), Fertilisers ($1.4 bln) 

Also Divestment will be a thick program to $10 bln again and other taxes will contribute INR 4 lakh crores despite removal of STT!

Posted via email from The India Investment Post