Union Budget To Be Presented On February 1


New Delhi: The Budget Session of Parliament will begin on January 29, and the Budget for 2018-19 will be presented by the Finance Minister on February 1. Finance Minister Arun Jaitley will present the Union Budget for the financial year 2018-19 on February 1, aimed at boosting economic growth through additional spending.

It will extend till April 6, said Parliamentary Affairs Minister Ananth Kumar on Friday. The Presidential address by Ram Nath Kovind will take place on January 29.

The session will be held in two phases; the first till February 9 and the second between March 5 and April 6. The Houses will break for recess from February 10 to March 4.

The Budget 2018 comes months after Prime Minister Narendra Modi’s bold decision to roll out the Goods and Services Tax (GST)which has slammed the brakes on Asia’s third-largest economy.

With uncertainty over how quickly the economy will recover, economists believe that the new Budget is likely to echo what India has become accustomed to in the past — expansion of spending programmes rather than fiscal restraint.

Indian economy has shaken off the effects of demonetisation and GST rollout as the GDP growth surged by 6.3 percent in the September quarter compared to 7.5 percent in the corresponding period of the previous year. India’s economic growth had decelerated to three-year low of 5.7 percent in the June quarter