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       CCPA recommends holding of Budget Session from Jan 31; Budget on Feb 1
 
         Posted on :18:23:26 Jan 3, 2017
   
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       Last edited on:18:23:26 Jan 3, 2017
         Tags: CCPA, Budget Session, Jan 31, Budget, Feb 1
 
NEW DELHI: As part of a major overhaul of the budget process, the Cabinet Committee on Parliamentary Affairs (CCPA) today 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.
 
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.
 
In September last year, ending a nearly a century-long practice, the Cabinet had decided to scrap a separate budget for the railways and merge it with the General Budget, presentation of which was decided to be advanced to spur spending and boost the economy.
 
Earlier, the Budget approval process usually happened in two parts extending to the second or third week of May, hampering early implementation of schemes and spending programmes.
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BUSINESS HEADLINES
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Airfares in India among 'lowest' globally: Sinha  
Sensex tanks 318 pts, Nifty slumps below 9100 on global clues  
Notes ban to spur economic activity: Govt  
Govt nod for 18 new airports costing Rs 30,000 cr  
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Softbank appoints Kabir Mishra to Snapdeal board  
Idea to sell 2G, 3G, 4G mobile data at same price from Mar-end  
Airbus to set up its first Asia training facility in Delhi  
BSNL offers 2GB data per day, unlimited calling for Rs 339  
Sensex soars 188 pts, Nifty at fresh closing peak on Fed move  
Prominent Australians ask Adani to abandon coal mine project  
Harley-Davidson launches Street Rod at Rs 5.86 lakh  
India imports petrol, diesel from China  
Rupee hits 1-1/2 yr high, surges 78 paise on BJP sweep  
Tata Steel, Wipro in world's most ethical companies' list  
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Despite bottom line pressure, FY17 to be the best for airlines  
IIP bounces back in Jan, expands by 2.7 pc  
12 lakh new notes infused in the market: Jaitley  
 
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