Finance Minister Mr Pranab Mukerjee will present the budget for 2011-12 in the Lok Sabha tomorrow. Finance minister. Mr Mukerjee who is presenting the third consecutive budget of UPA II is likely to focus on dealing effectively with inflation, price rise, increasing investments in infrastructure and agriculture.
With people’s expectations from the budget running high there is a possibility of the Finance minister giving tax concessions to the salaried class and offer incentives to farmers to give them relief from high prices.
Industry is strongly pleading for the continuation of the stimulus package, experts point out that some steps may be announced to roll them back partially. Increase in social sector spending is bound to get further impetus with expectations of 9 percent growth in the new fiscal.
Expanding financial inclusion, dealing effectively with corporate frauds and corruption, unearthing black money increasing productivity , production in agriculture , roviding farmers with incentives for using better technology and combating the effects of climate change are some other important areas likely to figure in the budget.
It will be a tight rope walk for Mr Mukerjee to balance between fiscal consolidation and sustaining growth and employment.