Union Budget to be presented tomorrow
• Session to be held in two phases
• First phase from Jan. 31 to Feb. 11
• Second phase from Mar. 2 to Apr. 3
New Delhi: The Budget Session of the Parliament began today with the Union Budget to be presented tomorrow. The budget session will be held in two phases, first phase from Jan. 31 to Feb. 11 and second phase from Mar. 2 to Apr. 3. The Union Budget will be presented tomorrow by Finance Minister Nirmala Sitharaman.
On the first day today, the Economic Survey was tabled in the Parliament by Finance Minister Nirmala Sitharaman, projecting India’s economic growth at 6 per cent to 6.5 per cent in the next financial year starting April 1. The growth in 2020-21 compares to a projected 5 percent expansion in 2019-20.
The Economic Survey of India is an annual document presented by the government mainly to review the state of the economy in the previous one year, while throwing light on its short-to-medium term prospects. The Economic Survey document is equally, if not more, important than the main Union Budget as it not only lays the premise for key policy decisions that need to be taken to take the economy forward but also assesses the impact of the previous decisions through detailed statistical data.
Earlier, President Ram Nath Kovind, who addressed the joint sitting of Parliament said that the scrapping of Article 370 and Article 35A of the Constitution by Parliament was a historic one, which has paved way for equal development of Jammu & Kashmir and Ladakh.
The President urged the Opposition to engage in debate and desist protests, which he said weakens the country.
While the comment drew long thumping of desks from the treasury benches, the Opposition voiced in protest.
Addressing media before the Budget Session, Prime Minister Narendra Modi said that he hoped for detailed discussions on the economy and the empowerment of people ahead of the Budget Session.
“I want wide-ranging, qualitative discussion on economy in both houses. Our session should be focused on economic matters and how India can take advantage of the current global economic situation,” said PM Modi in his customary remarks at the start of a session.