UPA to present interim budget today

Amidst global downturn and general elections just round the corner, the UPA government would leave no stone unturned to woo the voters through interim budget it is going to present in the Parliament on Monday.

External Affairs Minister Pranab Mukherjee, who is currently holding the additional charge of Finance Ministry in the absence of Prime Minister Manmohan Singh, will present the interim budget.

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With this final arrow in its bow to win the hearts of voters, the Congress may go for populist announcements with substantial sops to the middle-class and the beleaguered industry. Tax breaks in personal incomes and home loans for the common people, tax breaks for Infrastructure sector to revive manufacturing growth and some duty cuts for corporate India reeling under the impact of a global recession could be on the budget list.

Pranab Mukherjee met the Prime Minister and discussed budget related issues with him. Dr. Singh went through the interim budget related papers and formally signed the papers forwarding them to the President. He also approved the interim budget speech.

There have been 11 interim budgets since Independence but none of them could turn to be a poll winning measures rather sometimes it had been just a virtual election manifesto. Though there is no constitutional bar, it would be improper for a House to approve schemes for the entire year when it would be in office only for a part of that year.