Latest Business News - The Narendra Modi government on Tuesday did away with the long-winded first week of the Budget session of Parliament. This year, the Budget will be tabled on February 1.
The Rail Budget 2017 will form a part of the finance Budget, while the President’s address to the two Houses and the Economic Survey will be tabled on January 31, the first day of the Budget session.
The Cabinet Committee on Parliamentary Affairs, headed by Home Minister Rajnath Singh, met on Tuesday morning to decide on the early presentation of the Budget.
The practice until now was to devote a day each for the President’s address to the joint sitting of the two Houses, the Railway Budget, the Economic Survey and finally the Union Budget. The Budget was usually tabled on February 28 and was passed by end-May.
The early tabling of the Budget ends a 70-year tradition. It would also mean that the entire exercise should end by the end of the financial year on March 31, to enable tax proposals to come into effect from the beginning of the new financial year.(Read More)
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