The first leg of Budget session of the Parliament is set to begin from January 31. The Cabinet Committee on Political Affairs, which met this morning, is reported to have arrived at the decision. The government is likely to table the Economy Survey on January 31, followed by the Union Budget on February 1.
Thus far, the Budget session begun in the last week of February but this year the govt is looking set to convene the longest session of Parliament in the last week of January.
With the Union Budget expected to be presented on February, the session’s first leg will run till February 9. The government has also scraped the practice of separate Railway budget, which will now be presented along with the Union budget.
Union Home Minister Rajnath Singh chaired the meeting. Union Parliamentary Affairs Minister Ananth Kumar and Union Law minister Ravi Shankar Prasad and MoS Parliamentary Affairs Mukhtar Abbas Naqvi also attended the CCPA.
Early presentation of the Budget would mean that the entire exercise is over by March 31 and expenditure as well as tax proposals will come into effect right from the beginning of the new fiscal, thereby ensuring better implementation.
As per the earlier practice, the budgetary exercise was completed only by mid-May and with the monsoon arriving in June, most of the schemes and spendings by states did not take off until October, leaving just half-a-year for their implementation.
In September last year, ending a nearly a century-long practice, the Cabinet had decided to scrap a separate budget for the railways and merge it with the General Budget.
(With inputs from the PTI)