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Cabinet committee recommends Budget 2020 session from Jan 31; Union Budget on Feb 1

Budget 2020: The committee said the first phase of the session will be from January 31 to February 11 and the second will be from March 2 to April 3

twitter-logoBusinessToday.In | January 9, 2020 | Updated 07:59 IST
Cabinet committee recommends Budget 2020 session from Jan 31; Union Budget on Feb 1
Budget 2020: First phase of the session will be from January 31 to February 11

The cabinet committee on parliamentary affairs has recommended holding the Budget session in two phases from January 31 to April 3, with the Union Budget to be presented on February 1. They said the first phase of the session will be from January 31 to February 11 and the second will be from March 2 to April 3.

There is usually a month-long break between the two phases of the Budget session to allow parliamentary committees to examine budgetary allocations made to various ministries.

The President convenes both Houses of Parliament on the recommendation made by the Union Cabinet.

Also read: Big tax cuts may be coming for middle class in next Budget; here's why

In this year's Budget, the Finance Ministry is expected to announce a slew of measures to boost consumption and revive economic growth. Uniform tax rate without exemption, new slabs for those in higher-income groups, pruning personal income tax are some of the measures that are likely to be announced by Finance Minister Nirmala Sitharaman.

Responding to a question at an event in Delhi recently, the FM said that the government is looking at myriad suggestions and the relaxation of personal income tax was one of the measures for the Union Budget 2020.

Also read: Budget 2020: Modi govt may cut income tax rate, introduce new slabs to boost consumption

Meanwhile, the Finance Minister and Prime Minister Narendra Modi also sought suggestions and ideas from netizens on the Budget 2020. The FM has also been holding consultations with various stakeholders. Recently, PM Modi also met the who's who of India Inc.

Once the pre-Budget meetings are over, a final decision on the measures would be taken by the Finance Minister after which the proposals would be discussed with the Prime Minister.

(With PTI inputs)

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