The much-awaited Budget Session of the Indian Parliament commenced today with President Droupadi Murmu addressing the joint sitting of both Houses. Following the President’s address, Union Finance Minister Nirmala Sitharaman is set to table the Economic Survey for the year 2024-25, providing a detailed assessment of the country’s economic performance.

Key Developments in the Budget Session:

1. President’s Address Marks Opening: The session began with President Murmu delivering the customary address to the Lok Sabha and Rajya Sabha members.

2. Economic Survey Presentation: Finance Minister Sitharaman will present the Economic Survey, prepared under the leadership of Chief Economic Adviser V Anantha Nageswaran. The document evaluates the performance of the economy during the current fiscal year and outlines key challenges and policy recommendations for future growth.

3. Legislative Agenda: The government has listed 16 significant bills for discussion, including the Waqf (Amendment) Bill, Banking Laws (Amendment) Bill, Railways (Amendment) Bill, and Disaster Management (Amendment) Bill, among others.

4. First Full Budget of Modi 3.0 Government: On February 3, Finance Minister Sitharaman will present the first full Budget of the Modi 3.0 government, with widespread speculation on potential changes to income tax slabs.

5. First Part of the Session Ends on February 13: The first part of the Budget Session will conclude on February 13, followed by a recess to allow lawmakers time to review the proposed Budget.

6. Session to Reconvene in March: The Budget Session will resume on March 10 and continue until April 4, with a total of 27 sittings scheduled for the duration.

7. Debate on Motion of Thanks: Lok Sabha has allocated two days (February 3-4) for discussing the Motion of Thanks to the President’s address, while the Rajya Sabha has set aside three days for the same debate.

This session is set to play a critical role in shaping the economic and legislative landscape for India in the coming year.