Budget to be presented in first week of July
Thursday, 03 June 2004, 19:30 IST
Printer Print Email Email
MUMBAI: Finance Minister P. Chidambaram said Thursday the federal financial budget for the current fiscal year would be presented in the first week of July. "The budget will be presented to parliament in the first week of July and will be passed in the first week of August," the minister told media persons at the end of his two-day visit to the country's commercial capital. Chidambaram arrived here Wednesday for discussions with investors, brokers, bankers and industrialists on the Congress-led United Progressive Alliance government's economic agenda. "After a prolonged investment drought, I have been assured of a windfall. Bankers have assured me of a rush in investments in the next 10 months," he said after his meeting with leading financial institutions. "In the last 10 weeks bankers have closed six power projects of about 3,700 MW capacity. In addition, 10 more power projects are in the pipeline with a capacity of about 6,867 MW. This is very good." On the purpose of his Mumbai visit for the first time after assuming office last month, the finance minister said: "The purpose was to clarify all doubts about the Common Minimum Programme. I brought along a message of confidence. "I have met with stockbrokers, foreign institutional investors, captains of industry, bankers and have explained the government's resolve to advance economic reforms and fiscal prudence." Chidambaram said he did not see himself as finance minister but as "minister of investment."
Source: IANS
siliconindia