Journalism of Courage
The UPA govt will unveil an interim budget on Feb 16 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 Feb. 12 with the president’s address and will end on Feb. 26.
The interim railway budget would be unveiled on Feb. 13.
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.
