You are here: Home » Budget » Budget 2017 » Budget 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 5 states

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

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.

Read our full coverage on Union Budget 2016

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.

First Published: Tue, October 18 2016. 15:28 IST