Budget 2014: Jaitley's litmus test

With the political fight over the recent price rise spilling over on to the floor of the Upper House three days ahead of the presentation of the Union Budget, Finance Minister Arun Jaitley faces the challenge of taking tough fiscal consolidation measures to rein in inflation. While Jaitley has already warned of choosing fiscal prudence instead of bowing to populism, it remains to be seen whether the budget will usher in tough measures to revive the economy.