Pranab Mukherjee confers with cabinet colleagues on budget

New Delhi, June 19 (ANI): Union Food Processing Minister Subodh Kant Sahay and Minister for Information and Broadcasting Ambika Soni met Finance Minister Pranab Mukherjee ahead of the general budget, which is to be presented on July 6.

As part of the pre-budget exercise, Mukherjee held parleys with various stakeholders, state finance ministers, industrialist groups, leading economists, trade unionists and top officials of various financial institutions.

"We have requested that this sector is a perishable sector, rural activities based sector, so tax holiday is required for the sector for 8 to 10 years, so that private investments come in," said Sahay.

"I requested the Finance Minister to provide parity and rationalisation in the service tax paid by broadcasters on revenues accrued by them from advertisements. There should be a parity in print and broadcasting media," Ambika Soni said.

The Union Cabinet on Monday decided to hold the Budget session from July 2 to 7 while the General Budget will be presented on July 6.

It was also decided that the Economy Survey would be presented on July 2.

Prime Minister Dr. Manmohan Singh presented an interim budget for the 2009/10 (April/March) in February ahead of the general elections in April and May.

In its five budgets since 2004, the Congress party-led coalition has raised spending on health, education and rural employment. (ANI)