Business Today

Polls over, focus shifts to economy

After conclusion of the polls in five states, the focus will now shift to the economic activities with Finance Minister Pranab Mukherjee presenting the Budget and Reserve Bank unveiling the credit policy review this week, with a view to arresting slowdown and promoting growth.

twitter-logo PTI   New Delhi     Last Updated: March 11, 2012  | 19:28 IST

After conclusion of the polls in five states, the focus will now shift to the economic activities with Finance Minister Pranab Mukherjee presenting the Budget and Reserve Bank unveiling the credit policy review this week, with a view to arresting slowdown and promoting growth.

These will be kicked off by the address of President Pratibha Patil to the joint sitting of Parliament.

The President's address on Monday, which is likely to focus on economic performance and challenges before the government, will be followed by presentation of Rail Budget by Railway Minister Dinesh Trivedi and tabling of Economic Survey during the week.

Besides, the Agriculture Ministry is slated to come out with a farm sector survey that will list out the problems and suggest steps for improving agriculture sector performance in the medium and long term.

The major task before the economic managers will be to push Gross Domestic Product (GDP) growth rate which according to latest estimate is expected to decelerate to a three-year low of 6.9 per cent in 2011-12 from 8.4 per cent a year ago.

The process of presentation of the Budget this year was delayed because of the elections in five states of Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa. Instead of the usual date of the last day of February, the budget will be presented by Mukherjee on March 16.

The presentation of the Budget in Parliament will be preceded by the Railway Budget and Economic Survey on March 14 and 15 respectively.

The Reserve Bank, which has set the ball rolling by reducing cash reserve ratio (CRR) to address liquidity problems, may announce more such steps in its mid-quarterly policy review on March 15.

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