The Budget Session of Parliament begins today, with President Droupadi Murmu addressing a joint sitting of both Houses at 11 AM.
Following this, Union Finance Minister Nirmala Sitharaman will present the Economic Survey ahead of the Union Budget announcement on Saturday. The survey will be tabled in the Lok Sabha at noon and in the Rajya Sabha at 2 PM.
Prime Minister Narendra Modi and Lok Sabha Speaker Om Birla have arrived at Parliament as the session gets underway.
Several Union Ministers, including Home Minister Amit Shah, are also present.
The Economic Survey, prepared by the Economic Division of the Department of Economic Affairs under the supervision of the Chief Economic Adviser, provides an analysis of the economy's performance for 2024-25 and offers projections for the next fiscal year. This session is expected to take up several key legislative proposals, including the Banking Laws (Amendment) Bill, 2024, aimed at enhancing banking regulations, and the Railways (Amendment) Bill, 2024, which seeks to improve railway operations.
Other notable bills on the agenda include the Disaster Management (Amendment) Bill, 2024, which aims to bolster disaster response mechanisms, and the Waqf (Amendment) Bill, 2024, alongside the Mussalman Wakf (Repeal) Bill, 2024, both of which propose reforms in religious endowment management. The Oilfields (Regulation and Development) Amendment Bill, 2024, will introduce updates to oil exploration laws, while the Boilers Bill, 2024, focuses on strengthening industrial safety standards.
Additionally, the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2024, seeks to restructure assembly constituencies for better tribal representation. Maritime laws will also see reforms with the Bills of Lading Bill, 2024, Carriage of Goods by Sea Bill, 2024, Coastal Shipping Bill, 2024, and the Merchant Shipping Bill, 2024. The Finance Bill, 2025, remains a crucial legislative item, as it will implement budgetary proposals and tax reforms announced by the Finance Minister on February 1.
Other key bills include the Protection of Interests in Aircraft Objects Bill, 2025, which aims to safeguard aviation-related financial interests, and the Immigration and Foreigners Bill, 2025, which will introduce changes to immigration laws.
The session will also feature discussions on the Demands for Grants for 2025-26, which outline government spending plans across various sectors such as infrastructure, healthcare, education, and defense. Following the discussions, the Appropriation Bill will be introduced and passed to authorize these expenditures. Additionally, the Second and Final Batch of Supplementary Demands for Grants for 2024-25 will be reviewed to accommodate unanticipated government expenses.
Further, the session will address the Demands for Excess Grants for 2021-22, covering additional funds required beyond initial budget allocations. These demands will undergo discussion, voting, and approval through an accompanying Appropriation Bill.
Following an all-party meeting on Thursday, Parliamentary Affairs Minister Kiren Rijiju stated that "tentatively 16 items of legislative business and three items of financial business have been identified for being taken up during this session." He also confirmed that the government is prepared to discuss any other pressing issues as per parliamentary procedures.
The first phase of the Budget Session will run until February 13, after which both Houses will reconvene on March 10 following a recess. The session is scheduled to conclude on April 4.
