The Budget Session of Parliament will begin on January 31 and Finance Minister Arun Jaitley will present his Budget a day later.
Early presentation of the Budget would mean that the entire exercise is over by March 31 and expenditure as well as tax proposals will come into effect right from the beginning of the new fiscal, thereby ensuring better implementation.
The Cabinet Committee on Parliamentary Affairs (CCPA) on Tuesday took this decision, advancing the holding of the Budget Session.
Both the address of the President and tabling of the Economic Survey are likely to take place on January 31. The first phase of the Budget Session will run till February 9.
The CCPA, headed by Home Minister Rajnath Singh, made these recommendations to President Pranab Mukherjee.
Parliamentary Affairs Minister Ananth Kumar, law Minister Ravi Shankar Prasad and Minister of State for Parliamentary Affairs Mukhtar Abbas Naqvi also attended the meeting.
Early presentation of the Budget would mean that the entire exercise is over by March 31 and expenditure as well as tax proposals will come into effect right from the beginning of the new fiscal, thereby ensuring better implementation.
As per the earlier practice, the budgetary exercise was completed only by mid-May and with the monsoon arriving in June, most of the schemes and spendings by States did not take off until October, leaving just half-a-year for their implementation.