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Union budget likely to be presented on February 1
Tuesday January 3, 2017 5:58 PM, Agencies

New Delhi: Following the recommendation by the Cabinet Committee Meeting on Parliamentary Affairs, it is most likely that the Union Budget for the Financial Year 2017-18 will be presented on February 01 - a month in advance than it is normally presented.

According to media report, the budget session of the Parliament is expected to begin on Jan 31 and continue till Feberuary in the first phase.

In Sep 2016, the Narendra Modi-led- National Democratic Alliance (NDA) government decided to merge the Railway Budget with the Union Budget, ending a nearly century old practice.

The union budget is generally presented at the end of February but is passed by both Houses of the Parliament only by mid-May.

By bringing ahead the Budget date, the need of presenting a 'Vote On Account' is done away with and allow government spending in the first few months of fiscal, according to The Financial Express.



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