As most of us are busy in the guessing game, Economic Affairs Secretary R Gopalan indicated that Budget is likely to be in between March 12-16. In an interview to CNBC-TV18, Gopalan stressed that no final date has been decided but it is safe to assume the Budget to be tabled in between March 12-16.
There are already alarm bells ringing on the overburdening of fiscal deficit. Gopalan too is worried that fiscal deficit target may go beyond the projected 4.6%. India's fiscal deficit rose to 6.5% in 2008-09 due to the global financial crisis, but was brought down to 4.5% in 2009-10. However, things look hopeful in the Budget F13. According to Gopalan, fiscal consolidation worries will be tackled in it. PSU buy back and SUUTI Elaborating on the various agenda of the Finance Minsitry, Gopalan informed that it will soon present a stake sale plan for state-run companies via the buyback route to the cabinet. The government's target is to raise Rs 40000 crore this fiscal year by selling shares in state-run firms. He also added that consultative process on Specified Undertaking of the Unit Trust of India (SUUTI) is not yet over. Interest rates There is some good news on the interest rate front. The Reserve Bank of India (RBI) is likely to take measures to ease tightening if inflation drops and there is a 'very good' possibility of interest rates falling, he assured. There may be a need to revisit rates if December WPI is sharply down, he reiterated. Below is the edited transcript of GopalanDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
