Modi government announces to present union budget in Feb next

New Delhi: Amid the bedlam caused by demonetisation in the country, the Narendra Modi government on Tuesday announced that it would present the Union budget on February 1 next year. The session of budget may start in January.

According to the Center, the budget date has been brought forward so that the ministries as well as state governments can start disbursing the funds from the beginning of the next financial year.

The announcement has come a day prior to the month-long winter session of the Parliament which is to be held from November 16 to December 16.

It may be recalled that the railway budget has already been merged with the general budget. The decision was mooted by the Railway Minister, Suresh Prabhu, and endorsed by the National Institution for Transforming India (NITI) Aayog. The fusion is believed to have saved Rs 9,700 crore of the Indian Railways as dividend to the exchequer.

Also read:

Submit details on efforts to normalise demonetisation situation: SC

RBI refuses to exchange Indian currency notes deposited in Nepal