Prior to Parliament’s Budget Session, all-party meeting underway

An all-party meeting, presided over by Parliamentary Affairs Minister Pralhad Joshi, took place on Monday as a precursor to the Budget Session of Parliament. The meeting occurred at the Parliament Library building. The Budget Session is scheduled to commence with President Droupadi Murmu’s address on Wednesday, and, contingent upon government business requirements, it may conclude on February 9. Union Finance Minister Nirmala Sitharaman is set to present the interim Union Budget on Thursday. Typically, the interim budget addresses fiscal needs during the interim period until a new government is formed following the Lok Sabha polls.

In anticipation of the budget presentation, the Confederation of Indian Industries (CII), among the apex industry bodies, put forth several key recommendations. These proposals encompass achieving disinvestment targets and outlining a three-year schedule for disinvestment; incorporating petroleum, electricity, and real estate into the Goods and Services Tax (GST) with a focus on a 3-rate structure; augmenting capital expenditure by 20 percent to Rs 12 lakh crores; and establishing a dedicated Ministry of Investment.