Parliamentary Affairs Minister Pralhad Joshi is set to convene a crucial meeting with the floor leaders of various political parties in both houses of Parliament. The meeting is scheduled to take place this afternoon at the Parliament Library Building. This prelude aims to facilitate discussions and coordination among political leaders before the commencement of the upcoming Budget Session.
Budget Session Agenda and Presidential Address
The Budget Session is scheduled to kick off with the address of President Droupadi Murmu on Wednesday. Depending on the exigencies of government business, the session may conclude on February 9, 2024. Union Finance Minister Nirmala Sitharaman is slated to present the interim union budget on Thursday. Interim budgets typically address fiscal needs during the transitional period until a new government is formed after the Lok Sabha polls.
CII’s Recommendations Ahead of Budget Presentation
In anticipation of the budget presentation, the Confederation of Indian Industries (CII) has put forth a series of key recommendations. These suggestions encompass meeting disinvestment targets and establishing a three-year schedule for disinvestment. The CII also advocates for the inclusion of petroleum, electricity, and real estate under the Goods and Services Tax (GST), proposing a 3-rate structure. Additionally, they propose a 20% increase in capital expenditure (capex) to reach Rs 12 lakh crores and the establishment of a dedicated Ministry of Investment.
As the nation gears up for the Budget Session, these discussions and recommendations underscore the significance of collaborative efforts in shaping the economic trajectory and addressing critical issues facing the country. The outcomes of these deliberations will likely have far-reaching implications for various sectors, reflecting the government’s approach to economic management and growth.
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