Union Budget likely to be tabled on February 1

As part of a major overhaul of the budget process, the Cabinet Committee on Parliamentary Affairs (CCPA) on Tuesday recommended advancing the holding of the Budget Session from January 31 followed by the presentation of the Union Budget on February 1.

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, met here and 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.