NEW DELHI (TIP): The Budget session of Parliament may be advanced by a month and commence on January 24 and a combined Railway and General Budget may be presented on January 31.
The Cabinet is expected to give its stamp of approval next week to the proposal for merger of Railway and General Budgets and advancing the date of presentation to late January from late February.
To get the two GST legislations passed by Parliament for its roll out in April next year, the government may also advance the Winter Session of Parliament to mid-November from the third week of November, sources said.
Early presentation of the Budget will ensure that all legislative work is completed before the beginning of the new financial year. Usually, the annual budget is presented by the end of February after which it is discussed, the details of the budget are scrutinised by a Parliamentary committee and it is finally passed by mid-May.
But the financial year ends on March 31 and the government needs funds for various routine expenditure between March and May.
It is through vote on account that the government gets parliamentary approval to run the country’s routine financial business for a few months, using funds drawn from the Consolidated Fund of India.