Govt to unveil interim budget on 16 February

Govt to unveil interim budget on 16 February
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First Published: Fri, Jan 23 2009. 04 03 PM IST
Updated: Fri, Jan 23 2009. 04 03 PM IST
New Delhi: The ruling coalition will unveil an interim budget on 16 February ahead of a yet-to-be announced general election in April-May, a statement from Parliament said.
The Congress party-led government is expected to give an overview of the economy and highlight its economic achievements, and may announce fresh populist measures to woo voters ahead of the elections.
But analysts say a tight fiscal situation would likely restrict such moves.
The interim budget may include some indirect tax changes for Asia’s third-largest economy, but is unlikely to contain direct tax proposals. The new government will announce a fresh budget for the 2009-10 fiscal year once it takes over.
The statement said the next session of Parliament would start on 12 February with the President’s address and will end on 26 February.
The interim railway budget would be unveiled on 13 February.
Faced with a faltering economy, Indian authorities have slashed rates, cut duties and rolled out extra spending over the last four months to limit the negative impact of the global slowdown.
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First Published: Fri, Jan 23 2009. 04 03 PM IST