The budget session of Parliament will begin from January 31, 2022, and will continue till April 8. The Economic Survey will be presented on January 31 and the budget on February 1. Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2022-23 at 11 am in Parliament on February 1. This information has been given by the Lok Sabha Secretariat.
According to the Lok Sabha Secretariat, the first phase of the budget session will run from January 31 to February 11, 2022 and the second phase from March 14 to April 08, 2022. The budget session will begin with President Ram Nath Kovind's address to the joint sitting of both the Houses of Parliament. The budget for the fiscal year 2022-23 will be the fourth Union budget of the Modi-2 government and Finance Minister Sitharaman.
It is noteworthy that the growth rate in this financial year is expected to be in double digits. The government has projected a fiscal deficit of 6.8 per cent of the gross domestic product (GDP). The Finance Minister has already held meetings with stakeholders from industries, people from the financial sector, trade unions, farmers and leading economists. Important suggestions were made in these meetings regarding income tax slabs, infrastructure status for digital services and incentives for hydrogen storage.