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5 January 2018
 |
| Finance Minister Arun Jaitle (The Total Investment & Insurance Solutions) |
Finance
Minister Arun Jaitley will present the Union Budget for the financial year
2018-19 on February 1, aimed at boosting economic growth through additional
spending.
The Budget session of Parliament will
commence from January 29. President Ramnath Kovind will address the joint
sitting of the two Houses on January 29 and the Economic Survey will be tabled
on the same day, Parliamentary Affairs minister Ananth Kumar has said.
The first phase of the session will be from
January 29 to February 9. After a recess, Parliament will meet again from March
5 to April 6, Kumar said.
The Winter session of Parliament ended today.
The Budget 2018 comes months after Prime
Minister Narendra Modi's bold decision to roll out the Goods and Services Tax
(GST) which has slammed the brakes on Asia's third-largest economy.
With uncertainty over how quickly the economy
will recover, economists believe that the new Budget is likely to echo what India
has become accustomed to in the past -- expansion of spending programmes rather
than fiscal restraint.
Indian economy has shaken off the effects of
demonetisation and GST rollout as the GDP growth surged by 6.3 percent in the
September quarter compared to 7.5 percent in the corresponding period of the
previous year. India’s economic growth had decelerated to three-year low of 5.7
percent in the June quarter.The Total
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