New Delhi: The budget session of Parliament will commence today with President Droupadi Murmu’s maiden address to the joint sitting of Lok Sabha and Rajya Sabha at 11 am at Central Hall of Parliament. The Economic Survey will also be tabled in Parliament today ahead of the Union Budget 2023-24 which will be presented by Finance Minister Nirmala Sitharaman on February 1.
This budget will be the last full-fledged Union Budget of the Modi government before the 2024 Lok Sabha elections. There will be a separate sitting of the Rajya Sabha for the transaction of government business, half an hour after the conclusion of the President’s Address today. However, the sitting will be held for a short duration as per procedures for the transaction of government business. The budget session will take place in 27 sittings till April 6 with a month-long recess to examine the budget papers. The first part of the session will conclude on February 13. Parliament will reconvene on March 12 for the second part of the Budget Session and will conclude on April 6.
Yesterday, the government held an all-party meeting in which the opposition parties raised issues of their concern. The first part of the session would also see a discussion on the Motion of Thanks to the President Address. Prime Minister Narendra Modi will reply to the debate in both Lok Sabha and Rajya Sabha. The government will also try to push its legislative agenda in the budget session. According to government records, 26 Bills are currently pending in the Rajya Sabha and nine in the Lok Sabha.
Economic Survey, the Survey presented to the Houses reflects the state of India’s economy and presents detailed statistical data on different sectors and how they performed during the year gone by. In the Survey, forecasts such as projected Gross Domestic Product (GDP) growth also constitute a part of the Economic Survey. Estimated growth that specific sectors are expected to witness will also be noted. The Survey will also highlight various government schemes and their outcome, which helps in knowing the impact of such schemes and if they should be continued. With this, the Survey in a way will show and detail a better allocation of funds in the Budget. The survey, for the general public, will help in comprehending the extensive Budget, which is presented a day later.
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