Monday is the big day for the new government and the people of India, as the budget for fiscal 2010 is tabled. 

Pranab Mukherjee is carrying hopes of millions of Indians and several corporates and on Monday, July 6, some may praise him while others could curse.

But NDTV learns that it’s a jackpot for the power sector.

The government may increase funds for the accelerated power development and reform programme from last year's Rs 800 crore and also extend the tax sops for Ultra Mega Power Projects by seven years to 2017. The benefits enjoyed by 1000 MW mega power projects may be given to those with 500 MW capacity.

However, it seems for the oil and gas industry, especially the state-run refiners, the budget may have a negative impact.

The government may reintroduce 5 per cent custom duty on crude imports and may raise custom duty on petrol and diesel to 7 per cent, according to sources.

But, there could be a reason for the oil and gas explorers as tax benefits on crude production may be extended for gas production too. Apart from the energy sector, it may be a mixed bag for metal sector as miners may lose if a duty is imposed on exports of iron ore fine along with the 10 per cent royalty on realisation of iron ore.

On the whole, all the sectors may be impacted if the excise duty is hiked by 200 basis points, especially the tobacco sector, where sources say that an additional duty of 5 per cent on cigarettes may be imposed.