Indian budget to be passed by July 31

May 23rd, 2009 - 8:49 pm ICT by ANI  

Manmohan Singh New Delhi, 23 May (ANI): In the very first meeting of the Union Cabinet here today it was decided to get the budget for 2009-10 approved by Parliament by July 31.

“We hope we will be able to pass the Budget by July 31,” Home Minister P Chidambaram said, adding if it was not done then the Government will have to seek another vote-on-account for a short period.

The Congress in its manifesto had promised to bring the Budget within 45 days of the creation of the new Government.

Finance Secretary Ashok Chawla had earlier said that “the interim Budget as has been approved by Parliament operates till the end of July. So, the Government has the ability to carry on expenditure and its functioning till then. If, after that from the first of August, it is not possible to pass full Budget we need vote-on-account for another short period beyond that,”

Chidambaram further said that a decision to convene the first session of the 15th Lok Sabha from June 1- 9 was taken at the meeting, chaired by Prime Minister Manmohan Singh. (ANI)

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