Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / Budget primer
BackBack

Budget primer

Budget primer

Premium


In 18 days, finance minister Pranab Mukherjee will present the Union Budget for 2009-10 to Parliament. The budget document isn’t just a statement of accounts, it’s also a charter of the government’s economic policies. So it is the most awaited policy document in India’s economic calendar.

Also See A Guide to the Union Budget Documents (PDF)

“Sir, with these words, I commend the budget to the House." These words, traditionally said at the end of the finance minister’s (FM’s) budget speech, mark the culmination of perhaps the most complex annual economic exercise in the country. Budget speeches have helped chart the country’s future direction at the macro level (such as when Manmohan Singh allowed 51% foreign direct investment in certain sectors in 1991) to the micro (such as when Morarji Desai specified the number of matchsticks (50) that a matchbox could contain in order to get excise exemptions in 1962).

Also SeeMore on Budget 2009

The process of making the budget—as much a statement of intent for the forthcoming year as a bookkeeping exercise—usually starts around September.

This year, the full budget is being tabled in July as the new government assumed charge in May.

Compiled by Sanjiv Shankaran. Illustrations by Jayachandran/Mint

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 18 Jun 2009, 12:30 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App