Thursday, May 28, 2009

Financial Statement Within Initial Week Of July: Pranab - May 28, 2009

Pranab Mukherjee, Finance Minister to present the union budget for 2009-10 in the first week of July and get it approved by July 31 through the vote on account. However, if the budget fails to be approved before July 31, then the government will have to seek another vote on account. The budget, which will spell out the issues and concerns about the economy, would address the need for the growth momentum which is hit by the global financial crisis. The minister also said that te budget would also focus on the sectors, which are hit badly by the global financial crisis.

The focus of the government policies and reforms will be ''Aam Admi'' , Mukherjee said and added that the manifesto proposed to increase the minimum wages under the NREGA scheme to Rs 100 per day.

Meanwhile he also said that the issue of providing food security would get top priority. Regarding the need for the stimulus package to boost the economy, Mukherjee said that the government since December last had already announced three packages. Moreover he said that the problems of crisis-hit sectors like textiles, leather and gems and jewellery will be addressed in the budget.

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