“According to our manifesto, the new government is required to present the union budget within 45 days of coming to power. We will adhere to this schedule and propose to present the budget in the first week of July,” the finance minister said, while addressing a press conference in New Delhi.

Mukherjee said that reviving economy by boosting the growth was top priority of the government, while adding that fiscal prudence was also to be kept in mind while taking up more spending.

The finance minister said that mandate of the people will ensure stable and effective governance, which is needed to bolster the economy.
 
He further said that the government was assessing the impact of the economic stimulus given to the economy, adding, “All this will be distilled into a concrete short-term and medium-term vision and strategy for India’s economic growth.”

Admitting that the industry and business have been hurt by the cost and availability of finance, the FM said that they will meet bankers and get this issue resolved at the earliest.

Outlining the political vision of the budget, the finance minister said that his financial projections will have the twin objectives of reviving economy as well as boosting inclusive growth.

The government will also focus on improving infrastructure growth through increasing spendings, he said, notwithstanding the rise in revenue and fiscal deficits.

“Let me say unambiguously that we are committed to restoring growth and employment and that would not have been possible without increased spending funded by incremental borrowing,” he asserted.

The finance minister also hinted at pushing the pending reforms, particularly in financial and real estate sectors to make the economy more competitive. He also promised to make the anti-money laundering regime more stringent in the country.