Finance Minister K. M. Mani will present the State Budget for the coming financial year in the Assembly at 9 a.m. on Monday.
This would be the tenth budget by Mr. Mani, who already holds the record as the Finance Minister who presented the most budgets. Mr. Mani’s first Budget was in 1976, soon after he was made Finance Minister in December 1975.
The 2012-13 budget presents significant challenges to the Finance Minister as the finances of the State are strained, with increasing revenue deficit and a high level of borrowings. Mr. Mani will have to achieve higher revenue mobilisation to sustain expenditure on welfare and subsidies.
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