FM ends post-Budget war of chambers

FM will take questions from Ficci, CII and Assocham - at a joint session on March 1.

Like every year, there is a mad scramble amongst the country's apex industry associations to host the finance minister after he delivers the Budget speech in Parliament.

P Chidambaram may repeat the same words at each meeting and the questions thrown at him may be inane (preceded always by "Congratulations on your splendid Budget!), but it is an annual show of strength which no association wants to lose. The winner walks a few inches tall for the next few months and the losers start lobbying for the next Budget.

This year, Chidambaram has decided that there will be no winner "" and no losers. He will deliver his address and then take questions from all the three leading associations "" Ficci, CII and Assocham "" at a joint session at Vigyan Bhawan on March 1, a day after he presents the Budget.

Since the 75-minute interaction is being organised by the finance ministry, Chidambaram has ensured that none of the associations can walk away with all the accolades for the show.

It will be up to association members (leading lights of Indian business) to outshine others with their eloquence during the 20 minutes set aside for questions and answers.

Finance ministry officials said it was Chidambaram who decided to meet industry representatives together rather than meeting each association separately. The minister will be accompanied by Finance Secretary Adarsh Kishore and Revenue Secretary KM Chandrasekhar and other senior officials.

But industry associations are still hopeful. Off record, some association functionaries told Business Standard that they were still trying to get the finance minister to speak to their members after the Vigyan Bhawan event, hopefully in the same week.

But sources in the finance ministry said the chances of this happening were extremely thin, though some top officials may decide to meet industry association members.