The Budget Session of Parliament is set to commence today with President Droupadi Murmu addressing a joint sitting of both Houses at 11 AM. Following her speech, Finance Minister Nirmala Sitharaman will table the Economic Survey 2024-25 at 12 noon in the Lok Sabha and at 2 PM in the Rajya Sabha.
The Economic Survey, prepared by the Economic Division of the Department of Economic Affairs under the guidance of the Chief Economic Adviser, provides a comprehensive analysis of the country’s economic performance over the past year and offers projections for the next fiscal. The survey serves as a crucial document ahead of the Union Budget presentation on February 1.
Key Legislative Agenda For The Session
During this session, several important bills are expected to be taken up, including the Banking Laws (Amendment) Bill, 2024, which aims to enhance banking regulations, and the Railways (Amendment) Bill, 2024, focused on improving railway operations. The Disaster Management (Amendment) Bill, 2024, which seeks to strengthen the country’s disaster response framework, is also on the agenda.
Additionally, the government plans to introduce the Waqf (Amendment) Bill, 2024 and the Mussalman Wakf (Repeal) Bill, 2024, aimed at reforming religious endowments management. Other proposed legislations include the Oilfields (Regulation and Development) Amendment Bill, 2024, the Boilers Bill, 2024, and the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2024.
The session will also witness updates to maritime laws, with the Bills of Lading Bill, 2024, the Carriage of Goods by Sea Bill, 2024, the Coastal Shipping Bill, 2024, and the Merchant Shipping Bill, 2024 set for discussion.
Crucial Financial Discussions
The Finance Bill, 2025, a key component of the budget, will be introduced during the session to implement the government’s tax and economic proposals. The session will also see discussions on Demands for Grants for 2025-26, which detail government expenditure across various sectors, including infrastructure, healthcare, and education.
Additionally, Parliament will review the Second and Final Batch of Supplementary Demands for Grants for 2024-25, which accounts for unforeseen financial requirements, and the Demands for Excess Grants for 2021-22, addressing expenditures exceeding previously approved allocations.
Session Schedule And Government’s Preparedness
Following an all-party meeting, Parliamentary Affairs Minister Kiren Rijiju announced that the session would take up 16 legislative items and three financial business matters. He also stated that the government is open to discussing any important issue as per the rules of both Houses.
The first phase of the session will continue until February 13, after which Parliament will reconvene on March 10 following a recess, with the session concluding on April 4.
This Budget Session is expected to be a crucial one as the government seeks to implement economic policies and legislative reforms ahead of the upcoming general elections.
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