Budget 2018: Finance Minister Arun Jaitley will present the Union Budget on February 1. Ahead of the big day, all the political parties will meet on January 28. An all party meeting has been called by Lok Sabha Speaker Sumitra Mahajan on January 28
Budget 2018: Finance Minister Arun Jaitley will present the Union Budget on February 1. Ahead of the big day, all the political parties will meet on January 28. An all party meeting has been called by Lok Sabha Speaker Sumitra Mahajan on January 28. The meeting assumes political significance. Union Budget 2018 will be the Modi government’s fifth one. This will also be the last full Union Budget before the Lok Sabha 2019. The budget 2018 will also be crucial as a raft of assembly elections will be held across India. Budget 2018 expectation have already started rising. As the Budget 2018 India date is nearing, common man, industry bodies have started put forwarding their expectations.
It is likely that FM Jaitley will ‘rise to present’ budget 2018 at noon on February 1. FM Jaitley had presented Budget 2017 at around same time. FM Jaitley began the Modi government’s Budget 2017 speech, saying “Madam Speaker, on this auspicious day of Vasant Panchami, I rise to present the Budget for 2017-18.” Since the historic merger between Railway budget and general budget took place, two budgets are presented on a same day.Budget 2017 was the first one to be presented in this format. Finance Minister Arun Jaitley will present the Railway budget along with Union Budget on February 1.
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The Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget. It is the ministry’s view on the annual economic development of the country. A flagship annual document of the Ministry of Finance, Government of India, Economic Survey reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term. This document is presented to both houses of Parliament during the Budget Session. This year the Modi government will present the economic survey on January 29.
The Budget Session of Parliament is set to commence on January 29. President Ram Nath Kovind will address the joint sitting of the two Houses on January 29. The first phase of the session will be from January 29 to February 9. After a recess, Parliament will meet again from March 5 to April 6. There will be a recess between the session so that the department-related standing committees can clear the budgetary proposals related to their respective ministries.