Investors will keenly watch how Union Finance Minister Nirmala Sitharaman balances the need to spend big to fuel a budding economic recovery amid limited fiscal room as she rises to present the current situation. union budget Tomorrow, February 1, 2023.
The Union Budget may be a non-event for some, but if you look at the history, the Sensex has generally been down on the budget day. The Sensex was down on 11 occasions, while it advanced in nine other commodities with the highest gain of 5% in 2021.
“In the last 20 budgets, including both interim and full-year budgets in election years, #Sensex has given the thumbs up on 11 occasions, while it has advanced nine times with the highest gain of 5% in 2021. Only a few of the major sectoral indices end in the green on D-day,” reads the chart.
Take a look at the chart below:
The budget session of Parliament will begin today with the address of President Draupadi Murmu to the joint sitting of both the Houses of Parliament. economic survey It will also be presented in Parliament on Tuesday before the Union Budget on Wednesday.
On January 31, half an hour after the conclusion of the President’s Address, a separate sitting of the Rajya Sabha will be held to transact Government business. However, the meeting will be held for a shorter duration as per the procedures for the conduct of the government. business.
The session will be in two parts with the first part ending on February 13. The second part will be conducted from March 13 and will end on April 6.
In the first part of the session, there will also be a discussion on the Motion of Thanks on the President’s Address. Prime Minister Narendra Modi will reply to the debate in both Lok Sabha and Rajya Sabha.
The government will also take forward its legislative agenda in the budget session.
As per government records, there are currently 26 bills pending in the Rajya Sabha and nine in the Lok Sabha.
Of the 26 bills pending in the Rajya Sabha, three have already been passed by the Lok Sabha, including the Inter-State River Water Disputes (Amendment) Bill, 2019, the Constitution (Scheduled Tribes) Order (Third Amendment) Bill, 2022 and the Bill. The Constitution (Scheduled Tribes) Order (Fifth Amendment) Bill, 2022.
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