HEADLINES:
October 19 2019
Budget to be tabled on March 16
07 February 2012

The government on Tuesday said the Budget will be presented on March 16, more than two weeks later than usual, on account of assembly polls in five states. The annual financial statement along with the Finance Bill and the Appropriations Bill will be presented by FM Pranab Mukherjee four days after the Budget session starts with President Pratibha Patil's address to both Houses of Parliament. This will be followed by a debate on the motion of thanks on the President's address. 

The rail Budget will be presented on March 14 and the Economic Survey - the document that provides and overall assessment of the economic situation - will be tabled on March 15. 

"We will be recommending to the President that Budget session may be summoned on March 12 and continue up to March 30," parliamentary affairs minister Pawan Kumar Bansal told reporters after a meeting of the Cabinet Committee on Parliamentary Affairs (CCPA). The minister was hopeful of Opposition's co-operation in transaction of financial business. 

The second part of the Budget session, after a three-week recess during which Parliamentary Standing Committees deliberate on proposals of different ministries, will be held from April 24 to May 22. This is only the third time when the Budget presentation has been delayed. The first time was in the mid-70s, and again in the mid-1990s. Traditionally, the Budget is presented on the last day of February. 

As reported first by TOI, this year the government chose to defer the Budget due to elections in five states - Uttar Pradesh, Punjab, Goa, Uttarakhand and Manipur - that will be completed on March 4 and counting is slated for March 6. 

Mukherjee, who will be presenting his fifth Budget in a row, including the interim Budget in 2009, faces a tough task with the economy slowing down and a fiscal problem at hand. At the same time, the global economic situation remaining grim and coalition politics restricts his ability to take hard decisions.

 

 

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