FM arrives to present the Union Budget
New Delhi, Jul 6: The Finance Minister, Pranab Mukherjee has reportedly arrived at the Parliament to present his fourth union budget for 2009-10 amid expectations brewed by the UPA in the poll manifesto and the effects of recession.
In his Interim Budget present in Feb 2009, Pranab Mukherjee had given an estimate of above Rs 9 crore. But with new promises like the Food bill that gives the poor families the right to 25 kgs of rice at Rs 3; along with the stimulus packages the government has promised, the proposed figure may fall short.
Additionally, the expectations of the public on reduction of taxes along with the practical problems created by the global economic slowdown the government may have trouble in generating revenues. This may, like the finance minister himself has admitted in the Interim budget will lead to 'fiscal deficits'.