New Delhi [India], January 7 : The Cabinet Committee on Political Affairs (CCPA) has agreed to propose January 28 as the date for the start of the budget session of Parliament and February 1 as the date for the presentation of the Union Budget, sources said on Wednesday, noting that a final decision on dates is yet to be taken.
The budget session is the first session of Parliament in a calendar year and begins with the President's address to the joint sitting of the two Houses.
The Union Budget has been presented on February 1 for several years. This year, February 1 is a Sunday, and there is a strong likelihood that the government will not change the date of the Union Budget presentation, as a mark of predictability in financial processes.
The budget session of Parliament is usually divided into two parts with a break in between to allow the standing committees to examine the demands for grants of various ministries.
India will also host the AI Impact Summit next month.
Sources said the CCPA discussed two dates for the start of the budget session - January 28 and January 31, and a final decision is expected soon. Parliament's budget session usually begins in the last week of January.
On February 1, 2017, when India's budget for the new financial year was presented, the budget presentation was brought forward by a calendar month and the expenditure cycle by two months. The move had a larger objective of reforming fiscal governance.
Like the winter session of Parliament, the budget session is also likely to see a slew of legislation being introduced or taken up for discussion.