Govt likely to delay Union Budget to March 19

According to the sources in the government, Union Budget 2012-2013 is likely to be presented in Parliament on March 19, 2012.

The sources also said that the Budget Session of Parliament is likely to start from March 12, 2012.

The Economic Survey and the Railway Budget will be presented, as usual, before the Union Budget.

The budget is being delayed due to assembly polls which will start in less than a month's time. Elections will take place in the five states of Manipur, Uttar Pradesh, Goa, Uttrakhand and Punjab. The upcoming assembly polls are considered to be the game-changer in more than one ways.

The polls dates are spread between January 30 and March 3. The results are likely to change the political balance for or against the government in the Lok Sabha and the Rajya Sabha.

It is expected that the results of Uttar Pradesh elections are likely to give more space to the budget makers, mainly Finance Minister Pranab Mukherjee and Prime Minister Manmohan Singh to initiate economic reforms that are stalled due to various reasons.

The country is going to witness polls that will be conducted for 690 assembly seats for which more than 13.77 crore voters are being wooed by various parties.

It is believed that after the UP election, Mulayam Singh Yadav's Samjwadi Party will come to the rescue of the Congress led United Progressive Alliance government to thwart off the pressure of crucial ally Trinamool Congress.

The Congress leaders think that it makes sense for the government to delay the budget to frustrate its dissenting ally's constant protests against UPA's economic reforms.