This time, the general budget of Union Government is likely to be passed on 1 February 2017. Usually the bills come on the last day of the month but this time, it will get passed on the first day of February. This will also practise a separate railway budget. The proposal for making railway budget along with union budget will be added on Tuesday in the meeting of Union Cabinet which will be chaired by Prime Minister Narendra Modi.
The cabinet meeting will also consider the distinction between planned and non-planned expenditure. As according to the proposal whole Budget-making will run for around 3-4 weeks so as to complete all the legislative part of financial business before April 1, which is considered as the beginning of a financial year. It is also in a highlight that government plans to convene the Budget session of Parliament before January 25, 2017, and will plan a survey of that so that finance minister will read it out on 1 February 2016.
Reports also say that the estimate of GDP will be now made on January 7 which was earlier planned on February 7. While the expenditures of other ministries will get counted by November 15. We cannot state the exact date but reports say that the Budget along with Appropriation Bill and the finance bill will get passed by March 24 from the parliament and its implementation will be done by April 1.
As according to the proposal moved by the ministry of finance, Parliament would take a three-week break to complete the ministerial or departmental scrutiny by various parliamentary committees and the break is estimated to be from February 10 or 15 to March 10 or 15.