Sumitra Mahajan congratulates LS on early passage of budget

Sumitra Mahajan congratulated the House members, Ministers and the government for completing the process of passing the Union Budget before April 1.

New Delhi, April 5: Lok Sabha Speaker Sumitra Mahajan on Wednesday described the early passage of the Finance Bill as a historic occasion. She also congratulated the House members, Ministers and the government for completing the process of passing the Union Budget before April 1.

She thanked all the members for working towards the early passage of the Budget as soon as the house met for the day on Wednesday. She specifically thanked Prime Minister Narendra Modi and Finance Minister Arun Jaitley for envisaging the idea to pass Budget before April 1.

She said, "An important tradition has been started... I am happy that before April 1, all processes related to the Budget, related to tax or expenditure, have been completed. This is for the first time in independent India. This is a historic moment."

She said in Lok Sabha that earlier, Budget would be presented in April, March or as in the last few years, at the end of February and Budget allocation had become four-five month long process. As the processes were completed before April 1 this year it would mean departments will get allocation from April 1 and they will have a whole year to spend on old and new schemes.

She had also mentioned in Lok Sabha that state governments will also get help in preparing their own budgets as Union Budget was passed before April 1. It is noteworthy that the Budget was presented on February 1 this year.

After which the passage of the Finance Bill and the entire budgetary exercise for 2017-18 was completed on March 22. Rajya Sabha too had passed the Budget with few amendments which Lok Sabha had later rejected.

OneIndia News