Parliament’s Budget Session Begins Today, Focus on Union Budget 2024-25

The budget session of the parliament will start today. The Session will have 16 sittings up to the date it ends on the 12th of August. This Session will principally be confined to the financial matters including the Union Budget of Back to PROCEEDINGS 2024–25.

The Economic Survey 2023–24 will be laid in the Parliament on this session’s first day, which contains statistical facts and figures along with analysis of sectors of the economy. Union Budget 2024–25 is going to be placed on Tuesday by the Finance Minister Nirmala Sithraman in the Lok Sabha. This shall be the first budget of the Narendra Modi government in its third tenure.

On the same day, Union Budget for the Union Territory of Jammu and Kashmir for the financial year 2024 will also be tabled. Presumably, during the session, the government will register six new bills. Some of the Bills and their status are the Disaster Management (Amendment) Bill which is under consideration, Boilers Bill, Bhartiya Vayuyan Vidheyak, Coffee (Promotion and Development) Bill, Rubber (Promotion and Development) Bill all of which are under consideration.

Yesterday, to address house related issues the government chaired an all-party meeting at New Delhi for both the houses. Parliamentary Affairs Minister Kiren Rijiju, after interacting with the journalists during the post-meeting press conference, said that the government has no problem in having an open hearted discussion on any issue. He stressed the fact that both the government and the opposition have a duty of ensuring that Parliament is well run. He also wanted to thank the floor leaders of the parties for suggesting great ideas as well, Mr. Rijiju said. He urged all to support him ensure that the budget session runs as planned in the parliament.

In the same meeting, the Defence Minister of India Rajnath Singh, who is also the Deputy Leader of the House in the Lok Sabha, expressed gratitude to all the leaders of all the Sittings and Houses for raising and drawing attention to the important issues that are deliberated upon in the meeting. He also echoed the need to preserve the holiness of the Parliament during a sitting.

According to Congress, discussion must be made on the NEET paper leak case, Railway Security, Agniveer Scheme, Centre-State relation and situation in Manipur and Jammu & Kashmir among other business to be transacted in the session. Speaking in a Facebook post, the party leader Jairam Ramesh went on to acknowledge that the party was also of this opinion and wanted discussion to be conducted on issues related to economy in the country.

Watch Chief Economic Adviser to the Government of India, Dr. V. Anantha Nageswaran’s Press Conference on Economic Survey 2023-24 TOMORROW👇

⏰ 02.30 pm

🗓️ 22nd July 2024

📍National Media Centre

Stay tuned and watch out for LIVE updates on👇

X ➡️ https://t.co/76gY97bgKj… pic.twitter.com/tUgsRIt9cs

— Ministry of Finance (@FinMinIndia) July 21, 2024

Union Finance Minister Nirmala Sitharaman will table the Economic Survey 2023-2024 in the both houses of Parliament today. The document has been prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance formulated under the guidance of the Chief Economic Adviser Dr. V. AnanthaRE Nageswaran. On X, the Finance Ministry posted that after the Economic Survey will be presented in the Lok Sabha today, the Chief Economic Adviser will hold a media briefing in the afternoon.

A report card on the ‘state of the economy’ and also what lies in store in terms of growth in the period to come, and the policy imperatives accompanying the same, the survey offers a comprehensive picture. The Economic Survey offers the statistical data and outlooks concerning numerous spheres of the economy and it contains the information concerning employment, GDP rates, inflation, and the budget deficit.

India has continued to wear the title of the world’s fastest-growing economy. The economic survey will be presented at a time when the IMF has just lifted India’s economic growth prognoses on the FY 2024-25 to 7 per cent from 6. From the 5 to 8 per cent estimated in April. They mentioned that in June, the Reserve Bank of India sliced the growth estimate to 7. Thus the second figure, from 0.07 per cent of 601 equals 2 from 7 per cent.