January 2, 2017

In yet another surprise move by the PM Narendra Modi government, it has been revealed that Cabinet Committee on Parliamentary Affairs is set to meet on Tuesday to take a call on advancing Budget 2017 Session of Parliament to last week of January. This comes in the wake of the NDA government having already advanced the date to February 1 recently. The move had then caught the political parties by surprise and they have all vowed to carry out protests to force the Bharatiya Janata Party (BJP) led government to revert the dates back to the traditional date – February 28.

The reason provided by the government to advance the date of budget presentation was to allow expenditure to be authorised by the time the new financial year begins – Budget is presented at February end, but it is passed by both the Houses of Parliament only by mid-May. By pre-poning the Budget, the need of presenting a Vote On Account is done away with and allow government spending in the first few months of fiscal.

[The Financial Express]