Govt Calls All-Party Meet To End Deadlock With Oppn Ahead Of Monsoon Session; All Eyes On Budget Presentation

Parliament Monsoon Session: The monsoon session of Parliament is scheduled to commence from July 22, with Finance Minister Nirmala Sitharaman likely to present the Union Budget on July 23. Ahead of the session, Parliamentary Affairs Minister Kiren Rijiju has reportedly called for an all-party meeting on July 21 to discuss key issues and ensure smooth proceedings.

During the session, which runs until August 9, the government aims to present the full budget amid high expectations from various sectors, including the middle class anticipating tax reforms. During the previous session which ran from 24 June to 3 July, Parliament saw ruckus primarily due to the NEET controversy. The session also witnessed the swearing-in of new MPs. The government aims to avoid disruptions during the upcoming session, crucially focusing on presenting the first budget of Modi Government 3.0.

Finance Minister Nirmala Sitharaman is expected to unveil the budget once again. People are anticipating announcements benefiting middle-class citizens and potential tax rebates. Corporate sector representatives have advocated for reduced income tax burdens, increased capital expenditure, and measures to curb food inflation in their pre-budget discussions with Sitharaman.

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Previously this year, Nirmala Sitharaman presented an interim budget on February 1, 2024.

In the all-party meeting, key topics of discussion may include infrastructure development, fiscal prudence, and support for MSMEs, as highlighted in pre-budget meetings with industry representatives. The Modi government faces the challenge of balancing ambitious initiatives with economic stability in its third consecutive term.

The Economic Survey, guided by Chief Economic Adviser Dr. V. Anantha Nageswaran, will precede the budget presentation, outlining the country's economic progress, challenges, and proposed solutions.

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As the NDA government prepares for the budget session, all eyes are on the policies and allocations that will shape India's economic trajectory under its renewed mandate.