Govt to present budget in first week of July: Pranab Mukherjee | business | Hindustan Times
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Govt to present budget in first week of July: Pranab Mukherjee

Finance Minister Pranab Mukherjee today said that budget for 2009-10 that will spell out policies and priorities of the new UPA government will be presented in the first week of July. The focus of the government policies and reforms, Mukherjee said, will be 'Aam Admi' as has been mentioned in the Congress manifesto.

business Updated: May 26, 2009 16:22 IST

Finance Minister Pranab Mukherjee on Tuesday said that budget for 2009-10 that will spell out policies and priorities of the new UPA government will be presented in the first week of July.

"I would not like to have a second batch of vote on account... The Budget will be presented in the first week of July," he told CNBC-TV18 in an interview.

The minister further said that the issues and concerns about the economy raised by him in the interim budget, especially with regard to the sectors which are hit badly by the global financial crisis, would be addressed in the budget.

The government is required to get the budget passed by July 31, the date when the vote on account approved by Parliament allowing government to withdraw money from the Consolidated Fund of India expires.

In case the budget is not approved before July 31, the government will have to seek another vote on account.

The focus of the government policies and reforms, Mukherjee said, will be 'Aam Admi' as has been mentioned in the Congress manifesto.

"Aam Admi is to be at the focal point," he said, adding the manifesto proposed to increase the minimum wages under the NREGA scheme to Rs 100 per day.

Similarly, he added, the issue of providing food security would get top priority.

On the need of another stimulus package to boost the economy reeling under the impact of the global financial meltdown, Mukherjee said the government since December last had already announced three packages.

"Whatever is needed will be done," he said, pointing out the government could not take any policy decision since March in view of the general elections for the 15th Lok Sabha in which the Congress-led UPA was voted back to power with bigger mandate.

Noting that signs of economic recovery in Europe are not promising, the minister said, the problems of crisis-hit sectors like textiles, leather and gems and jewellery will be addressed in the budget.

When asked whether he would prefer growth to fiscal prudence, he said, "What is needed is stimulus to growth, we cannot indulge in fiscal profligacy."