The Finance Ministry may soon advance the date of presenting the Union Budget by a month, reported PTI. The Budget is presented on the last day of February right now. The move, if implemented, will be aimed at completing the budget exercise before a new financial year starts.
The Arun Jaitley-helmed ministry is also planning to scrap the tradition of presenting a separate budget for the Railways. Among other things, the Centre is considering the option of doing away with the distinction between Plan and non-Plan expenditure, and replacing it with capital and revenue expenditure.
There is no specific date mentioned in the Constitution for presenting the Union Budget. The Narendra Modi government is planning to present it in the last week of January, so that the entire process can be over by March. The new financial year starts on April 1.
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