D-day for Modi government: Union Budget to be tabled on July 10, Railway on July 8

New Delhi: New Finance minister Arun Jaitley will present the budget for the 2014/15 financial year on July 10, government sources said, 3 days after the parliament begins its budget session.

The new government, led by Prime Minister Narendra Modi, will present the railway budget on July 8 and the country's economic survey on July 9.

The budget session of parliament is scheduled to conclude on August 14, but it could be extended further, the sources said.

India's previous government presented an interim budget for 2014/15 to parliament on Feb. 17, ahead of national elections to cover expenditure until a new administration was installed.

The Modi-led NDA government has also been facing flak for a steep rise in rail fare. 

Read: Warning signs ahead of Budget

Meanwhile, the forthcoming Budget may not be the dream being hoped for. Indications of this came when Prime Minister Narendra Modi said that “tough decisions” need to be taken to improve the financial health of the nation.

The Modi government, which has inherited inflation, and has succeeded a government struck by policy paralysis, has much on its plate. “I have taken over the reins of India in circumstances when there is nothing left behind by the previous government. The country’s financial health has hit the bottom,” Mr Modi said, pointing a finger at the Manmohan Singh regime.

“Taking tough decisions and strong measures in the coming one or two years are needed to bring financial discipline which will restore and boost the country’s self-confidence,” he said.

Read:Economy paralysis: Is containing inflation the biggest challenge for Modi Sarkar?