Expectations are High, as FM set to present Union Budget 2008

--By Sagar Satapathy, Editor-in-Chief

The Finance Minister P Chidambaram is all set to present the Union Budget for year 2008-09. After getting a populist Railway Budget, people are expecting more sops from the Finance Minister, as it could be his last budget speech, if all indications go right. The budget is expected to focus on people in the wake of possible general elections later this year.

While the salaried class expect more tax benefits from the Finance Minister, the corporate sector wants a cut in Corporate tax and several custom duties. The common people are concerned about the rise in prices of the basic commodities and they look at the Finance Minister for more populist measures to curb the inflation rate and make their life easier. The Oil and Petroleum sector want further cut in duties to recover from the loss they currently suffer. Farmers can expect a bumper package, as the UPA government may not want to displease them in the election year.

There are high expectations all around be it farmers, businessmen, industrialists, students or unemployed youth. The Economic Survey presented in the Lok Sabha yesterday, indicated that though we are on the path of high growth, a lot are still to be done. The Finance Minister has an uphill task to come up with a budget that will please all. Railway Minister Laloo Yadav had a scored a point when he presented the Railway Budget' 08. Will Chidambaram be able to emulate that feat? Wait for a few hours, and you will know. Good Luck Mr. Finance Minister!