Parliament's Budget Session Begins Tomorrow
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Synopsis
The Parliament's Budget Session opens on January 31, featuring Finance Minister Nirmala Sitharaman presenting the Economic Survey post President Droupadi Murmu's address. This session will set the groundwork for the Union Budget 2025-26 on February 1.
Key Takeaways
- The Budget Session starts January 31.
- Economic Survey to be presented by Nirmala Sitharaman.
- Union Budget 2025-26 to be unveiled on February 1.
- Increased focus on infrastructure and welfare schemes.
- Middle class tax relief may be introduced.
New Delhi, Jan 30 (NationPress) The Budget Session of Parliament is set to commence on Friday, January 31. Finance Minister Nirmala Sitharaman is poised to present the Economic Survey following the address by President Droupadi Murmu to the joint session of both Houses in the morning.
The Economic Survey, which serves as a report card on the economy compiled by the Finance Ministry, will pave the way for the unveiling of the Union Budget 2025-26 scheduled for Saturday, February 1.
This report not only provides an in-depth analysis of the economic performance across various sectors but also outlines the short- to medium-term outlook for the Indian economy. Although it includes recommendations for the government's fiscal policy, these suggestions are not mandatory.
In the upcoming budget, the Finance Minister is anticipated to maintain the government's strategy of enhancing investments in major infrastructure projects to stimulate growth and generate more employment opportunities within the economy for the fiscal year 2025-26.
Increased funding is expected for the agriculture and rural sectors, as well as for welfare programs aimed at improving the conditions of the underprivileged.
There may also be relief for the middle class, including potential cuts in income tax rates to increase disposable income, thereby boosting demand and further promoting growth.
Furthermore, adjustments to customs duties to rectify the inverted duty structure on certain items to support domestic manufacturing appear to be in the works.
In related news, Defence Minister Rajnath Singh chaired the traditional all-party meeting on Thursday ahead of the budget session. This meeting aimed to update political parties on the government's legislative plans and gather their feedback on topics they wish to discuss during the session.
Notable attendees included BJP President and Union Minister J P Nadda, Gaurav Gogoi and Jairam Ramesh from Congress, T R Baalu from DMK, Sudip Bandyopadhyay and Derek O'Brien from TMC, with Parliamentary Affairs Minister Kiren Rijiju also present.
The first segment of the Budget Session will run from January 31 to February 13, while the second segment is scheduled from March 10 to April 4.
