As per the decision taken by the Cabinet Committtee on Parliamentary Affairs on Tuesday morning, the budget session of Parliament is likely to begin on January 31, advancing it by over three weeks.
Finance minister Arun Jaitley will present the union budget along with the railways budget and ending a 92-year-old tradition of presenting a separate railway budget – on February 1.
In the past, funds were not allotted from the beginning of the financial year on 1st April, creating a backlog and choking funds. A group of secretaries in the government had recommended advancing the budget to overcome the problem. Officials will allow for earlier allocation of funds for different government schemes and projects and lead to better implementation on the ground.
Finance minister Arun Jaitley was present at the meeting also attended by home minister Rajnath Singh, parliamentary affairs minister Ananth Kumar and external affairs minister Sushma Swaraj.
