Budgetary process to be over by July 27

"The entire exercise will be completed by July 27, few days ahead of the July 31, the day when the vote on account will end... We are keeping some cushioning period," Parliament sources said.

The Budget session begins on Thursday with the tabling of the Economic Survey by Finance Minister Pranab Mukherjee. The Railway Budget would be presented on Friday, while the General Budget for 2009/10 will be unveiled on July 6.

According to the tentative programme worked out by the government, the discussion on the Railway Budget will begin on July 7 and two days have been earmarked for the debate followed by debate on general Budget.

The demands for grants of four ministries will be taken for discussion and guillotine would be applied on July 21, sources said, adding that the exact schedule would, however, be finalised by the Business Advisory Committee of the Lok Sabha.

Mukherjee had presented the interim budget on February 16 in view of the general elections for the 15th Lok Sabha. He also sought vote on account for four months till July end to meet essential expenditure of the government.