A top official fromUS-India Business Council (USIBC) remarked that foreign investors are expecting the forthcoming union budget to unleash bold economic reforms that will boost growth, tame inflation and make it easier for companies to conduct business.  
 
 But some economists don't see the budget introducing key reforms because of unfavourable outcome of the recent state elections for Congress party.
 
 Despite low expectations, foreign investors are honing in on this year's budget to be presented on March16, to get a sense of the broader policy intent of the UPA government.
 
 The budget is being seen as a "test" of the government's political resolve to implement reforms to rescue India's economy which slowed to 6.1 percent in the third quarter of the financial year 2011-12. The third quarter's dreary performance will probably drag India's annual growth to around 6.5 percent.
 
 The budget is being prepared against a real macro-economic situation that is far from stable. In spite of these headwinds, both domestic and global investors are looking to this budget to deliver fiscal consolidation, contain subsidies and provide new measures for raising revenues.