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Feb 7, 2009

Pranab to present interim budget on Feb 16

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The interim budget of India to be presented in Parliament on February 16 by Pranab Mukharjee the External Affairs Minister who is acting as finance minister. There were expectations from all the sections as the economy is reeling under the global financial crisis.

The government may try to give relief all the sector in the union budget 2009 and the glimpse of the budget will portray the nature of union budget. Export sector is one of the worse hit sector due to the global financial crisis.

India has to hold general elections by May, and the full budget for the 2009/10 fiscal year will be delivered by the new government once it has been formed. It is expected the budget would be people friendly and there would be many packages for all sectors.

On the other hand the RBI may review its rate structure after the union budget. Since the inflation is under control and recorded a decline after two weeks rise. There is option for RBI to consider to pump further liquidity into the system. However, this could be done only after the union budget is presented.


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