What would the face of july budget?
Finance Minister Pranab Mukherjee will present the full Budget for 2009-10 in
the first week of July.
The UPA had in its manifesto
committed to presenting the Budget within 45 days of formation of the Government.
Keeping that deadline in mind, the Budget for 2009-10 will be presented in the
first week of July, he said, adding the Government would endeavour for the
Budget to be passed before July 31.
Reviving growth momentum of the economy will be the top priority for
Prime Minister Manmohan Singh-led Government but revival would not be at the cost
of fiscal prudence. The industry and business hit hard by cost of finance and
its easy availability and he would meet bankers soon to get them committed to more
benign plan of action to boost credit and its flow.
The prime focus of the Budget will be "Aam Aadmi" (common man)
but will also lay stress on infrastructure spending.
The government has eased liquidity situation considerably through series of
measures taken by RBI, he said, adding that he will be meeting bankers soon to
take stock of the situation. Its obvious that banks will take advantage
of the monetary policy.
On the GDP expansion 6.5-7 per cent growth rate is a respectable growth for the
current fiscal. And regarding the inflation target for 2009-10 the rate of price rise at 0.61 per cent (for
the week ended May 9) is reasonably down and provides enough leverage.
The government is equally committed to fiscal consolidation over 2-3 years and
it will also make anti-money laundering regime stronger.
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