New Delhi, January 15: The much-awaited Union Budget 2018 is here. People, industry bodies and politicos are all waiting for the NDA government’s fifth budget which will be presented by Finance Minister Arun Jaitley in the Parliament.
The Budget 2018 is a crucial one as this would be the last full-fledged budget of Narendra Modi government before the 2019 Lok Sabha polls. The Budget 2018 will also be the first one after the implementation of Goods and Services Tax (GST). Politically too, this Budget is crucial as assembly elections will be held in big states like Karnataka, Madhya Pradesh and Rajasthan. Many are curious to know when and what will come out of FM Jaitley’s briefcase.
When will be the Budget 2018 tabled in the Parliament?
The Union Budget 2018 will be presented by FM Jaitley will be tabled on February 1, on the same day when Budget 2017 was presented. According to a report, FM Jaitley will ‘rise to present’ budget 2018 at noon.
Date of Presentation of Economic Survey
Every year, the Finance Ministry presents the Economic Survey in the parliament every year, just before the Union Budget. It is ministry’s view on the annual economic development of the country. A flagship annual document presented by the Ministry of Finance, Government of India, Economic Survey reviews the developments in the Indian economy over the previous 12 months, which summarizes the performance on major development programs and also highlights the policy initiatives of the government and the prospects of the economy in short to medium term.
The Economic Survey is presented to both houses of Parliament during the Budget Session. This year the Modi government will also present the economic survey on January 29.
Budget session and other key dates
The Budget Session of Parliament will be commenced on January 29. President Ram Nath Kovind will address he joint sitting of the two Houses. The first phase of the session will be from January 29 to February 9. After a recess, Parliament will meet again from March 5 to April 6. Between the session, there will be a recess so that the department-related standing committees can clear the budgetary proposals related to their respective ministries.