FinMin to present Budget on Feb 1, may do way with plan and non-plan expenditure

New Delhi :General Budget may get completly revamped revealed Economic Affairs Secretary Shaktikanta Das. Finance Ministry may present the Budget for next fiscal around February 1, so as to complete the entire process by March 31.

Economic Affairs Secretary Shaktikanta Das in a interview to TV Channel said, “There are three major changes that we are undertaking for the next year (Budget). First presentation of Budget is advanced by about a month. We expect Budget to be presented around February 1.”

Besides, doing away with the plan and non-plan expenditure and replacing it with the new classification would be revenueand expenditure, he said, adding that the third is merger ofRailway Budget with the General Budget.

The pre-Budget meetings for the current year’s for revisedexpenditure estimates as well as for the next Budget’sestimates have already started, he said.

“Revenue Department has also started the pre-budgetconsultations with the various stakeholders and FinanceMinister’s consultation with major stakeholders are alsoplanned to be held in advance,” Das said.

“So, all the preparation has been roughly advanced byabout a month. Preparations are very much under control and wewill be able to present the Budget around February 1,” he said.

The idea, he added, is to get the Budget passed byParliament along with Appropriation Bill and the Finance Billby the end of March as this would ensure implementation of theBudget proposals from April 1.