New Delhi, January 5, 2017
As per the earlier practice, the budgetary exercise was completed only by early May
The second part of Parliament's Budget Session is likely to start from March 9, a day after the last phase of voting in the Assembly polls, and will end on April 13.
Earlier this week, the Cabinet Committee on Parliamentary Affairs (CCPA), headed by Home Minister Rajnath Singh, had recommended start of the Budget Session from January 31 followed by the presentation of the Union Budget on February 1.
Both address of the President and tabling of the Economic Survey are likely to take place on January 31 and the first phase of the Budget Session will run till February 9.
The second phase of the Budget Session is likely to start from March 9 and will end on April 13, a source said.
In between, there will be a recess for the MPs to vet the Budget in department-related standing committees.
Early presentation of the Budget would mean that the entire exercise of voting on it and the Finance Bill is sought to be completed by March 31.
At a meeting in NITI Aayog last week, Prime Minister Narendra Modi had said advancing the date of Budget presentation would help in getting funds authorised for different sectors at the start of the financial year.
As per the earlier practice, the budgetary exercise was completed only by early May.
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, presentation of which was decided to be advanced to spur spending and boost the economy.
Meanwhile, objecting to advancing of the Budget Session, opposition parties today moved the Election Commission demanding that the government be asked to defer the annual exercise till March 8, the last day of voting in the Assembly polls in five states.
[The Business Standard]