Budget session of Parliament has started. This session of Parliament will last till July 26. This is the first session of the second term of the Modi government. In this session, the government will present a full budget. The budget is accountable for the annual expenditure and expenditure of the government.
Budget preparations have begun. The Ministry of Finance is meeting different industries. This includes industry organizations. Finance Minister Nirmala Sitharaman will present his first budget. The Finance Minister will present the budget in Parliament on July 5, 2019.
These budgets will be presented for the year 2019-20. Budget decisions will continue till March 2020. The Economic Survey 2019 will be presented on July 4, one day before the budget. It will be aware of the economic condition of the country.
Finance Minister Nirmala Sitharaman will start his own budget speech on July 5 at 11 a.m. Usually budget speech is 90 to 120 minutes. Before the budget is presented, there will be a meeting of the entire Cabinet of Modi Government. The President's approval will be taken for the budget.
Before 1999, the budget was presented at 5.00 in the evening on the last working day of February. In the time of Finance Minister Yashwant Sinha, this tradition was changed in 1999 and the budget began to appear at 11 o'clock in the morning. Prior to 2016, the Railway Budget was presented on a different day. However, in September 2016 Modi government changed this tradition. Now the rail budget is included in the full budget.
The interim budget is presented before the expenditure of government expenditure in the election year. The new government, which comes in May, offers the full budget. On February 1, the interim budget was presented by the interim finance minister Piyush Goyal.
