All the preparations have been done; experts have given their views and have made their predictions related to various aspect of budget 018. After considering all big economic events of whole year, economist, financial planner and professional like chartered accountant have presented their views on various forums. They all have given their suggestion to ministry as what to be included and what not in the upcoming budget.
Finance Minister Arun Jaitley is going to present the fifth budget of Modi government five year term. The upcoming budget is expected to bring some relief to farming sector, service industry, professional and businesses related to real estate and manufacturing sector of India. This one is also full budget by current Modi government as next one will be interim budget till the next government is comes in power. Also thes budgets 2018 will the first one after implementation of much hyped Goods and Service Tax (GST). FM budget is also crucial from the point of view as big states like Karnataka, Rajasthan and Madhya Pradesh will soon be going through elections.
Date and Time
The union budget presented on February 1 by finance minister Arun Jaitley The tradition to present the budget on first working day of February instead of the last one was initiated by BJP government during budget 2017-18 to make sure the reforms proposed in the budget get implemented timely before the starting of next financial year that is on April 1. It is expected time to be presented in noon.
Date for Presentation of Economic Survey
Just before the presentation of Budget in parliament, Finance Ministry of India will also present the Economic Survey. The economic survey represents the point of view of ministry on economic development in country. This annual document of Ministry of Finance, Government of India present its views points on economic development which has taken place in country in previous 12 months, represent the summarized report of the performances of major development programs, highlights the policy initiatives taken by government and prospects of economy from short term to medium term. Economic Survey is presented in both houses of parliament. This year economic survey was presented by Modi government on January 29th.
Budget Session Dates
The budget session of parliament is all set to commence on January 29th. President Ram Nath Kovind addressed the joint sitting of two house s of parliament on January 29th. The first phase of session started on January 29th and end on February 9th. After a recess parliament resumed on March 5 and continue till April 6.
The recess between the two sessions is meant for department related standing committees to clear the budgetary proposal related to their respective ministries.
