Budget Session starts with presidential address and Economic Survey

 President_Ram_Nath_Kovind.jpgThe Economic Survey of India, which is the ministry’s view on the annual economic development of the country, is set to be tabled in both houses of the Parliament as the budget session commences today.

Initially, President Ram Nath Kovind is due to address a joint sitting of the Lok Sabha and Rajya Sabha. The survey will be tabled later in the day.

Economic Survey is an annual document of the Ministry of Finance, Government of India, and reviews the developments in the Indian economy over the previous 12 months, summarises the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy in the short to medium term.

This document is presented to both houses of Parliament during the Budget Session.

The Budget session of the Parliament will be conducted from January 29 to April 6, with the first phase to be held from January 29 to February 9 and the second phase from March 5 to April 6.

The finance minister will present the Union Budget 2018 for the fiscal year 2018-19 on February 1.

This will be the first Budget in the post- GST (Goods and Services Tax) era and the last full budget from Jaitley before the general election in 2019.

On Sunday, the government had said that it would “leave no stone unturned” to ensure the passage of the triple talaq bill in the Budget session, asserting that it would talk to various parties for a consensus on the issue.

The government met leaders of political parties at a meeting in Parliament House on Sunday and also sought their cooperation in ensuring the success of the crucial session during which the Union Budget would be presented.

The all-party meeting was attended by Prime Minister Narendra Modi, Union ministers Rajnath Singh, Arun Jaitley and Ananth Kumar, besides leaders of opposition and other parties.

Addressing the floor leaders of the various parties in the Rajya Sabha and Lok Sabha, Prime Minister Modi said the government accords importance to issues raised by the parties and urged their leaders to create a “constructive atmosphere for the national good”.

Parliamentary Affairs Minister Kumar described the meeting as “fruitful”, and said the Prime Minister urged the leaders of the parties to make the session successful.