Budget Session to Convene from Jan 31 to April 4
Parliament’s Budget Session is scheduled to be held from January 31 to April 4. Finance Minister Nirmala Sitharaman will table her eighth straight budget on February 1.
As per the convention, the session will begin with President Droupadi Murmu’s address to a joint sitting of the Lok Sabha and Rajya Sabha on January 31.
The first part of the Budget Session will have nine sittings, taking place from January 31 to February 13. During the first part, PM Modi will respond to the Motion of Thanks on the President’s address and FM Sitharaman will reply to the discussions on the budget 2025.
After the first part, Parliament will take a break to examine the budget proposals and sit again from March 10 to complete the budgetary process and discuss the grant demands of various ministries.
The session is set to conclude on April 4, with a total of 27 sittings.
In the upcoming budget session, Finance Minister Sitharaman is likely to introduce a new income tax bill, seeking to simplify the current Income Tax law.
“The new Income Tax law will be introduced in the Budget session of Parliament. It will be a new law and not an amendment to the existing Act. Currently, the draft law is being vetted by the law ministry and it is likely to be brought in Parliament in the second half of the Budget session,” PTI reported, citing sources.
More than 6,500 suggestions have been submitted by stakeholders to the Income Tax Department for the review of the Act.
Related Posts
