CCPA decides to convene Budget Session of Parliament from January 31
As per sources, the Union Government will present the Union Budget for Financial Year 2017-18 on 1 February 2017.
The Union Budget session 2017-18 will commence from 31 January 2017. The decision was made at a meeting of the Cabinet Committee on Parliamentary Affairs (CCPA) chaired by Home Minister Rajnath Singh in New Delhi.
As per sources, the general budget will be presented on 1 February 2016. The first part of the budget session will run until 9 February 2016. The recommendations for the budget session have been sent to President Pranab Mukherjee for assent.
It is expected the first part of the budget, that is, Economic Survey will be presented on 31 January 2017. This survey will set the scene for the Finance Minister Arun Jaitley to present his fourth annual budget on 1 January 2017.
The CCPA meet was also attended by Law Minister Ravi Shankar Prasad and Parliamentary Affairs Minister Ananth Kumar.
This is the first year that the budget will be presented in a merged form, i.e., Rail and Union Budget will be presented in a combined form. Earlier on 21 September 2016, the Union Cabinet approved the merger of Rail budget with Union Budget and also decided to advance the date of presentation of the annual budget from the last day of February to start of February.
This merger will end the century-old practice of presenting separate Rail and Union Budget. The new practice is being adopted to ease the way to cut populist subsidies and push through structural reforms.