Budget session may keep bourses edgy

Convened primarily to approve the Budget for 2005-06 (April-March), the Parliament is likely to see stormy exchanges over value added tax (VAT) and other contentious issues.

The Bharatiya Janata Party-led opposition National Democratic Alliance is likely to raise the VAT issue as the BJP-ruled states have refused to implement the new tax structure set up cross the country from the start of the month.

Allies of the United Progressive Alliance government, the Communist Party of India (Marxist)-led Left Front is expected to rake the Gujarat riot issue.

According to media reports, Gujarat additional director general of police R B Shreekumar told an inquiry panel that he was ordered by chief minister Narendra Modi of the BJP to "eliminate minorities" during the 2002 riots.

NDA parties are meeting late Monday to chalk out their floor strategy for the second phase of the Budget session.