Pranab Mukherjee begins presenting interim budget for next fiscal

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee has proposed to substantially enhance the allocations for the Commonwealth Games 2010 from Rs. 2,112 crore in the interim budget to Rs.

July 6th, 2009 NEW DELHI - Union Finance Minister Pranab Mukherjee will present the first general budget at 11am today in Lok Sabha. This is the first general budget of the UPA government after coming to power for second term.

July 6th, 2009 NEW DELHI - Union Finance Minister Pranab Mukherjee on Monday said that the fiscal deficit as a percentage of GDP is projected at 6.8 per cent as compared to 2.5 per cent of the Budget Estimates (BE) for 2008-09 and 6.2 per cent as per the provisional accounts of 2008-09. Presenting the General Budget for 2009-10 in Lok Sabha on Monday, Mukherjee assured that government would address the issue properly to come back to the path of fiscal consolidation, as this level of deficit was a matter of concern.

July 6th, 2009 NEW DELHI - India's fiscal budget has risen from Rs.193 crores to over Rs.10 lakh crores in the 63 years since independence of the country in 1947, Finance Minister Pranab Mukherjee said while presenting the budget for 2009-10 in the Lok Sabha Monday. "Madam speaker, I am happy to announce that for the first time, the budget estimates have crossed Rs.10 lakh crores.

July 6th, 2009 NEW DELHI - A new direct tax code will be introduced in 45 days and bring changes in the indirect tax structures, Finance Minister Pranab Mukherjee Monday said while presenting the union budget for 2009-10 in the Lok Sabha Monday. Reiterating his commitment to expedite tax reforms, Mukherjee also said he would aim to introduce the goods and services tax by the initial deadline of April 10, 2010.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday said recovery of Indian economy in the current fiscal would be difficult unless there were visible improvements in the global economic scenario. Speaking to a television channel after presenting the union budget for 2009-10, Mukherjee said the economy would likely recover in the third quarter of 2009-10, but if the western economies did not improve, we will take a longer period.

June 16th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee held pre-budget discussions with leaders of Congress party ahead of the budget for full fiscal year 2009/10 (April-March) that would be presented on July 6. "As a party man I have an obligation to listen to the views of my party leaders.

February 15th, 2009 NEW DELHI - Saying a 'threshold has been crossed' with the Mumbai terror attacks, External Affairs Minister Pranab Mukherjee hiked the allocation for defence by 34 percent to Rs.141,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 he presented in the Lok Sabha Monday. The allocation is nearly 15 percent of the total interim budget of Rs.953,231 crore for the fiscal beginning April 1.

February 15th, 2009 NEW DELHI - Following are the reactions from some prominent industrialists and economists to the interim budget presented by acting finance minister Pranab Mukherjee here Monday: Deepak Parekh, chairman, HDFC Bank: Not a disappointment, I did not expect anything in the interim budget. It was never meant to be a giveaway.

February 15th, 2009 NEW DELHI - India's defence expenditure for 2009-10 has been hiked to Rs.1.41 trillion, acting Finance Minister Pranab Mukherjee said Monday in the Lok Sabha while presenting the interim budget for the fiscal beginning April 1. The allocation for 2008-09 was Rs.1.05 trillion.

February 15th, 2009 NEW DELHI - Reacting to criticisms over lack of measures in the interim budget presented Monday, Planning Commission Deputy Chairman Montek Singh Ahluwalia said in an election year, an incumbent government had the mandate only to present a vote on account. 'I think this is a failure to understand the limitations of an interim budget,' Ahluwalia said, soon after industry and average citizens complained that the interim budget tabled in parliament by External Affairs Minister Pranab Mukherjee had no specific measures on tax rates or to help cushion the impact of global slowdown.

February 15th, 2009 NEW DELHI - The Right to Information (RTI) Act 2005 has made public servants more accountable than before, acting Finance Minister Pranab Mukherjee said Monday. 'The enactment of the Right to Information Act 2005 at the centre and in many states has bridged a critical gap in the public decision making process and ushered in greater accountability of public servants,' Mukherjee said while presenting the Interim Budget 2009-2010 in the Lok Sabha.

February 15th, 2009 NEW DELHI - Saying that the Mumbai terror attacks had given 'an entirely new dimension' to cross-border terrorism, External Affairs Minister Pranab Mukherjee raised the allocation for defence 34 percent to Rs.1,41,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 he presented in the Lok Sabha Monday. The total revised expenditure for 2008-09 was Rs.1,14,600 crore against the allocation of Rs.1,05,600 crore, said Mukherjee, who was presenting the budget on behalf of Prime Minister Manmohan Singh, who is recovering from coronary bypass surgery.

February 15th, 2009 NEW DELHI - External Affairs Minister Pranab Mukherjee did not present a populist budget as the United Progressive Alliance (UPA) government had done a 'tremendous job' and does not need to play to the gallery, the ruling Congress maintained Monday. Mukherjee observed 'constitutional propriety' while presenting the interim budget, Congress spokesperson Manish Tewari said.

February 14th, 2009 NEW DELHI - Prime Minister Manmohan Singh Sunday went through the documents related with the interim budget that will be presented to parliament Monday, and after the approval of the house forwarded to President Pratibha Patil for her assent, as per convention. The prime minister also formally approved the speech of External Affairs Minister Pranab Mukherjee, who will be presenting the interim budget to the Lok Sabha, said official sources.