The Hindu : Front Page : Interim budget may give relief to exporters

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Monday, Feb 16, 2009
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Interim budget may give relief to exporters

Special Correspondent

NEW DELHI: With the global economic meltdown in the background and the Lok Sabha elections approaching, the UPA government will present its interim budget on Monday amid indications it will showcase its programmes in rural development, housing and infrastructure during 2009-10.

To be presented by External Affairs Minister Pranab Mukherjee, currently holding the additional charge of the Finance Ministry, it is expected to spell out some short-term measures for exporters reeling under the impact of the global slowdown.

Mr. Mukherjee met Prime Minister Manmohan Singh on Sunday evening with the related papers and Dr. Singh formally signed them, official sources said.

The government’s flagship schemes like the Bharat Nirman and the National Rural Employment Guarantee Scheme are likely to receive further attention.

The focus on urban infrastructure may be retained by expanding the ambit of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) to include more districts.

Another key focus area is likely to be rural development, which may witness allocations being hiked substantially in keeping with the Congress promise of taking care of the “aam aadmi” [common man].

The government has already unveiled two stimulus packages but with revenues suffering due to the economic slowdown, there are indications that the fiscal deficit may be revised to nearly five per cent of the Gross Domestic Product (GDP).

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