You are here: Home » Economy & Policy » News
Business Standard

Cabinet may consider Budget presentation on February 1

Centre took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur

Press Trust of India  |  New Delhi 

Cabinet may consider Budget on February 1 this week

The Cabinet is likely to consider this week fixing February 1 as the date of presentation of the after the (EC) gave its nod in light of upcoming in the five states.

Having decided to advance the presentation by a month, the government took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, and Manipur.

So, it consulted the EC, which has concurred with the finance ministry's view that it is an annual financial statement and can come any time of the government's choice, officials said.

The Cabinet headed by Prime Minister is likely to meet on Wednesday or Thursday to decide on the date for Finance Minister to present the for the financial year 2017-18.

The Cabinet on September 21 had in-principle decided to end the colonial-era tradition of presenting the on last day of February and advance it by about a month to help complete the legislative approval for annual spending plans and tax proposals before beginning of the new financial year on April 1.

"The reason we wanted to advance the date was that we want the entire budgetary exercise to be over and the Finance Bill to be passed and implemented from April 1 onwards rather than June because then the monsoon sets in and effectively, the expenditures start in October," Jaitley had stated last week.

Stating that the government wants expenditure to start in April itself, he had said there are five state lined up in 2017.

"So, we are just trying to co-ordinate that you do not have to announce the bang in the middle of an election date. It should be reasonably before that or after that," he had said.

The finance ministry had been proposing that the presentation be fixed for February 1 and the entire exercise is completed by March 24.

It wanted the Session of the Parliament to begin before January 25 and go in for a three-week break between February 10-15 before reconvening between March 10-15 to complete the legislative exercise.

RECOMMENDED FOR YOU

Cabinet may consider Budget presentation on February 1

Centre took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur

Centre took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur
The Cabinet is likely to consider this week fixing February 1 as the date of presentation of the after the (EC) gave its nod in light of upcoming in the five states.

Having decided to advance the presentation by a month, the government took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, and Manipur.

So, it consulted the EC, which has concurred with the finance ministry's view that it is an annual financial statement and can come any time of the government's choice, officials said.

The Cabinet headed by Prime Minister is likely to meet on Wednesday or Thursday to decide on the date for Finance Minister to present the for the financial year 2017-18.

The Cabinet on September 21 had in-principle decided to end the colonial-era tradition of presenting the on last day of February and advance it by about a month to help complete the legislative approval for annual spending plans and tax proposals before beginning of the new financial year on April 1.

"The reason we wanted to advance the date was that we want the entire budgetary exercise to be over and the Finance Bill to be passed and implemented from April 1 onwards rather than June because then the monsoon sets in and effectively, the expenditures start in October," Jaitley had stated last week.

Stating that the government wants expenditure to start in April itself, he had said there are five state lined up in 2017.

"So, we are just trying to co-ordinate that you do not have to announce the bang in the middle of an election date. It should be reasonably before that or after that," he had said.

The finance ministry had been proposing that the presentation be fixed for February 1 and the entire exercise is completed by March 24.

It wanted the Session of the Parliament to begin before January 25 and go in for a three-week break between February 10-15 before reconvening between March 10-15 to complete the legislative exercise.
image
Business Standard
177 22

Cabinet may consider Budget presentation on February 1

Centre took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur

The Cabinet is likely to consider this week fixing February 1 as the date of presentation of the after the (EC) gave its nod in light of upcoming in the five states.

Having decided to advance the presentation by a month, the government took the line that it should not be presented in the middle of Assembly poll in Uttar Pradesh, Punjab, Uttarakhand, and Manipur.

So, it consulted the EC, which has concurred with the finance ministry's view that it is an annual financial statement and can come any time of the government's choice, officials said.

The Cabinet headed by Prime Minister is likely to meet on Wednesday or Thursday to decide on the date for Finance Minister to present the for the financial year 2017-18.

The Cabinet on September 21 had in-principle decided to end the colonial-era tradition of presenting the on last day of February and advance it by about a month to help complete the legislative approval for annual spending plans and tax proposals before beginning of the new financial year on April 1.

"The reason we wanted to advance the date was that we want the entire budgetary exercise to be over and the Finance Bill to be passed and implemented from April 1 onwards rather than June because then the monsoon sets in and effectively, the expenditures start in October," Jaitley had stated last week.

Stating that the government wants expenditure to start in April itself, he had said there are five state lined up in 2017.

"So, we are just trying to co-ordinate that you do not have to announce the bang in the middle of an election date. It should be reasonably before that or after that," he had said.

The finance ministry had been proposing that the presentation be fixed for February 1 and the entire exercise is completed by March 24.

It wanted the Session of the Parliament to begin before January 25 and go in for a three-week break between February 10-15 before reconvening between March 10-15 to complete the legislative exercise.

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard