The imperious Mamata Banerjee is keeping the Centre guessing on when to schedule the railway and Union budget sessions.
The imperious Mamata Banerjee is keeping the Centre guessing on when to schedule the railway and Union budget sessions.
According to sources in the Lok Sabha, finance minister Pranab Mukherjee has more or less decided he will present the Union budget on July 3 and the economic survey will be presented to both the Houses on July 2.
“These dates are of course contingent on whether or not railway minister Mamata Banerjee is agreeable to presenting the rail budget on July 1,” said a senior minister in the government.
“The reason for the jitters is not just because of Mamata Banerjee’s so-called erratic ways but because Mukherjee is determined that the budget be presented on a Friday,” said the source.
Traditionally, the budget is presented in the middle of the week, the next two trading stock market trading days indicating investor and public reaction.
“Mukherjee does not want such a knee-jerk reaction to his budget and therefore wants the Budget on a Friday afternoon, which will give the market barely three hours to react and the whole weekend to ‘digest’ and give a considered reaction on Monday,” the source said.
Where Mamata fits into the equation is by her sheer unpredictability. “We have to run the dates by her and make sure she agrees, as the next Friday, July 10 will be too late for the Budget,” said a finance ministry source.
“Earlier it was the prerogative of the FM along with Lok Sabha managers to decide on suitability of dates, with the railways given ample notice. With coalition dharma, this is not the case,” the source said. Emissaries will be meeting Mamata next week to finalise the Budget date.
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