 "Printing of Budget documents begins")
The process of printing documents for the interim Budget kicked off on Friday in the presence of Finance Minister P Chidambaram in North Block. The customary ‘halwa’ ceremony marked the commencement of the printing process.
Interim Budget or vote-on-account is to be presented on February 17. It is not likely to have any major announcements or amendments to tax laws, as the country is going for the Lok Sabha polls, likely in April. However, Chidambaram has not ruled out taxation changes that do not require any legislation. The finance ministry is likely to make higher allocation for some social sector schemes and minor tax changes keeping in view the elections.
To maintain the secrecy of Budget, there is a “lock-in” of the officials involved in the exercise. Budget press situated in North Block, which houses all the officials in the period leading up to the presentation of Interim Budget. These officers and staff gain touch with their near and dear ones only after the Budget is presented in Parliament.
Those present at the halwa ceremony, included the finance minister, Namo Narain Meena and J D Seelam, both ministers of State for finance, Sumit Bose, finance secretary, and other secretaries, chairperson of the Central Board of Excise & Customs and Central Board of Direct Taxes, joint secretary (Budget) and other officers and staff of the ministry involved in Budget preparation, said a statement.
Interim Budget or vote-on-account is to be presented on February 17. It is not likely to have any major announcements or amendments to tax laws, as the country is going for the Lok Sabha polls, likely in April. However, Chidambaram has not ruled out taxation changes that do not require any legislation. The finance ministry is likely to make higher allocation for some social sector schemes and minor tax changes keeping in view the elections.
To maintain the secrecy of Budget, there is a “lock-in” of the officials involved in the exercise. Budget press situated in North Block, which houses all the officials in the period leading up to the presentation of Interim Budget. These officers and staff gain touch with their near and dear ones only after the Budget is presented in Parliament.
Those present at the halwa ceremony, included the finance minister, Namo Narain Meena and J D Seelam, both ministers of State for finance, Sumit Bose, finance secretary, and other secretaries, chairperson of the Central Board of Excise & Customs and Central Board of Direct Taxes, joint secretary (Budget) and other officers and staff of the ministry involved in Budget preparation, said a statement.