Budget date News

Finance Minister Arun Jaitley today said the date for presenting the Union Budget on February 1 was decided much in advance of the EC's announcement of Punjab polls three days later, dismissing Opposition allegation that the budget was scheduled keeping in view the state elections.

In the pre-budget consultations with the state ministers, Jaitley will hear their expectations from the Union Budget, which is likely to be presented in Parliament on February 1.

Finance Ministry is gearing up to present the Budget for next fiscal around February 1, advancing the scheduled date by a month so as to complete the entire process by March 31, and preparations for it are "very much under control", says a top official.

The Union Cabinet is likely to take a decision Thursday on Finance Ministry's proposal of advancing the date for Budget presentation to February 1.

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The Union Cabinet headed by Prime Minister Narendra Modi is likely to meet on Wednesday or Thursday to decide on the date for Finance Minister Arun Jaitley to present the budget for 2017-18.

Having decided to advance the budget presentation, the government is keen that it is not presented in the middle of Assembly elections in five states, said Finance Minister Arun Jaitley.

Before fixing a new date for the presentation of Union Budget 2017-18, the government is likely to hold discussions with the Election Commission to avoid any clash with the schedule of five states headed for polls.