The Government of India is overhauling the budget process and has decided to present the Union Budget 2017-18 on February 1, instead of the last day of the month. The Budget Session will be convened in the last week of January in order to facilitate early allocation of funds to start various schemes from the beginning of the next financial year.
The Cabinet Committee on Parliamentary Affairs (CCPA) recommended holding the session from January 31. The Economy Survey will also be tabled on the last day of January.
These recommendations were made to President Pranab Mukherjee by the CCPA headed by home minister Rajnath Singh in a meeting held in New Delhi, according to media reports.
The Budget Session’s first part will run till February 9. (KD)
Source: Fibre2Fashion News Desk – India