India's Finance Minister would present the union budget for the year 2009-10 on July 3, 2009, report media. The Railway Minister would present the Railway budget on July 1 followed by the economic survey on July 2, 2009.
Earlier Finance Minister Pranab Mukherjee said that the budget 2010 would spell out policies and priorities of the new government and focus on issues and concerns on economy particularly regarding sectors badly hit by the global economic meltdown.
The government is required to pass the budget and get it approved by the Parliament by July31. This will allow the government to withdraw money from the Consolidated Fund of India as it expires on that date. In case the budget is not approved before July 31, the government will have to seek another vote on account.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.