Free Press Journal

Next budget to be presented around Feb 1: Arun Jaitley


PTI Photo by Shahbaz Khan(PTI11_4_2016_000144B)

New Delhi: Announcing a major change in the date of presentation of the Union Budget, the Union Finance Ministry has said it will be advanced by a month — and presented around February 1.

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“There are three major changes that we are undertaking for the next year. First, presentation of Budget is advanced by about a month. We expect Budget to be presented around February 1,” Economic Affairs Secretary Shaktikanta Das told DD News in an interview.

“So, all the preparation has been roughly advanced by about a month. Preparations are very much under control and we will be able to present the Budget around February 1,” he added.

Das said the other two major changes regarding the Union Budget are converging of the Rail Budget with the General Budget and doing away with the Plan and Non-Plan Expenditure.

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Instead the Budget will have Revenue and Expenditure classification only, he added.

“Revenue Department has also started the Pre-Budget consultations with the various stakeholders and Finance Minister’s (Arun Jaitley) consultations with major stakeholders are also planned to be held in advance,” Das said.