Customarily, however, the government has used the forum to also announce direct and indirect tax amendments.
After the 2011 Budget, one of the key expectations was introduction of goods and service tax (GST) with effect from April 1, 2012.
Back-of-the envelope calculations suggest the Centre's fiscal deficit as a percentage of nominal gross domestic product may approximate to 6.6% for 2011-12 as against the budgeted 4.6%.
Actually, the genesis of the exemption dates back to the day of the Budget.
Fiscal deficit zooms to 39% of GDP in Q1;
revenue deficit at 44%.
The finance department has decided not to bear the burnt of inefficiency and financial indiscipline of other departments.
While the Maharashtra Navnirman Sena described the mayor as a "fool", the Shiv Sena demanded his resignation for his alleged irresponsible statement on the issue.
With the release of the data on the union finances till February 2011, the revised estimates for the last fiscal year appear to be suspect.
Coming down heavily on the opposition for disrupting the presentation of budget, Pawar said it was a deliberate attempt to stall the budget.
The cabinet ministers and elected members of both the Houses indicated their inability to focus on the budget session following high tension cricket match.