Union Budget 2021 to be Presented on February 1, Parliament Session to be Convened From January 29: Reports

Team Latestly
·2-min read

New Delhi, January 5: The Union Budget 2021 will be tabled before the Parliament on February 1, in accordance to the annual tradition of tabling the fiscal document on the first working day of February. The Parliament session for the presentation, discussion and passage of the Budget will be held from January 29, reports said. Union Budget 2021-22: Telangana Govt Seeks Funds for Textile, Handloom Development.

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On the opening day of Budget Session, President Ram Nath Kovind would be addressing a joint sitting of the Lok Sabha and the Rajya Sabha, reported NDTV. The first phase of Budget Session will end on February 15, the reports said, adding that the second round of session will held from March 8 to April 8.

Speculations were earlier rife that the government may defer the Budget Session, in view of the COVID-19-related concerns. The Winter Session was not held this year due to the pandemic.

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The Budget would be presented by Union Finance Minister Nirmala Sitharaman. This would be the second full-year Budget she would be presenting under her tenure. The rollout of annual fiscal blueprint comes in the backdrop of the coronavirus crisis which adversely impacted the Indian economy for two successive quarters.

Prior to the onset of pandemic, the country was reeling under a prolonged economic slowdown. The country's unemployment rate had reportedly struck 45-year-high before the lockdown came into effect. The situation was worsened by the months of restrictions that followed. Economists, however, are now eyeing a recovery as several sectors of the economy have moved into the positive trajectory.