Presentation of Union Budget advanced by a month: PM Modi

To ensure speedier implementation of projects and schemes, the government on Wednesday decided to advance the presentation of Union budget by about a month.

By: Express Web Desk | New Delhi | Updated: October 26, 2016 7:36 pm
union budget, budget, budget advance, union budget advanced, pm modi, narendra modi, modi, modi budget, latest news, indian express Prime Minister Narendra Modi

To ensure speedier implementation of projects and schemes, the government on Wednesday decided to advance the presentation of Union budget by about a month. Prime Minister Narendra Modi made the announcement after chairing his 16th interaction through ‘Pragati’ in the national capital. The prime minister urged all states to align their plans with Budget advancement being done by the Centre to take maximum advantage.

India follows the April 1-March 31 financial year. Most countries follow a January-December fiscal year.

While the Budget is presented at the end of February, it is passed by both the Houses of Parliament only by mid-May. The Budget, next year, will be presented in January instead of February.

Both houses of Parliament clear the appropriation bill only in the second half of the budget session, forcing the government to seek Parliament’s approval through a vote on account in March to withdraw money from the consolidated fund of India for two to three months to meet regular expenditure.

The move could help government prepare for the implementation of the goods and services tax (GST), scheduled to be rolled out from 1 April.

Earlier, considering the proposal by Railway Minister Suresh Prabhu, the government had abolished railway budget and merged it with Union budget itself.

The previous NDA government, under prime minister Atal Bihari Vajpayee in 2001, had changed the time of presenting the budget to 11am, from the British era practice of presenting it at 5pm.

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  1. G
    GEORGE.CRUZ
    Oct 26, 2016 at 7:47 pm
    The budget will have a new and advanced GDP formula: real GDP INFLATION RATE CAD THE CURRENT GDP GDP BEFORE REVISING GDP FORMULA GDP AFTER REVISING GDP THIS REVISED GDP.
    Reply
    1. P
      Proud.but.mentally.retarded.Mytake.Bhakt
      Oct 26, 2016 at 7:41 pm
      You are the true patriot
      Reply
      1. A
        Aiyer
        Oct 26, 2016 at 7:35 pm
        What is the news in this? lt;br/gt;lt;br/gt;In the past 2.5 years the only achievement is FOREIGN TOURS. Congress was mastur-batting for 65 years. Now Modi is doing it along with bhakts.
        Reply
        1. S
          SubbuI
          Oct 26, 2016 at 2:27 pm
          NALAYAK NMODI, BY ADVANCING THE BUDGET KYA BADA TEER MARA KYA?THE REAL REASONS ARE EMBLY ELECTION, election commission and people are watching you. Before that take some. Steps to solve Kashmir issue, the wound in one limb is getting gangrene day by day and don't let it get amputed, all the Natakbazi is enough
          Reply
          1. A
            Arvind
            Oct 26, 2016 at 11:00 pm
            It is in the interest of national Security, pride,safety,development, Narendra Modi remain as PM at least another two terms as PMdian has been recognized as peace loving and can become super power soon.
            Reply
            1. A
              ASHOK KUMAR
              Oct 26, 2016 at 4:51 pm
              Modi has nothing solid to offer to 125 crore Indians except acts of jugglery and jhumlas.
              Reply
            2. A
              Ashok Mazumdar
              Oct 26, 2016 at 5:37 pm
              Pl present 2019 ,😂 Budgetlt;br/gt;In December 2016, So thatlt;br/gt;Pupul Vote you for next 20lt;br/gt;Yrs in One Go.😂
              Reply
              1. M
                mathimathi
                Oct 26, 2016 at 4:05 pm
                We each and every Indians must worry about home budget until Feku gives the share from block funny from swiss.
                Reply
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