Amidst lot of expectation, Finance minister Arun jaitley will be presenting NDA government’s first full year budget on February 28, 2015. Also, the budget session of Parliament would commence from February 23 and would continue till March 20. While, the first part of the session would be between February 23 and March 20, the second part would be conducted between April 20 and May 8.
As per schedule, Railway Budget will be presented on February 26, Economic Survey on February 27 and the General Budget will be presented on February 28. Notably, all eight ordinances, including one on raising the FDI limit in the insurance sector from 26% to 49% and e-auctioning of coal mines will be taken up for ratification in the Budget session. However, atleast six of these ordinances will lapse if they are not passed in the first part of the Budget Session.
Besides these, issues like environment, land, power, coal, mining are likely to be effectively addressed through administrative and clearance process. This will manifest the impact of relaxed FDI limits in defence, railways and planned increase in insurance. With Finance Minister Arun Jaitley indicating start of second-generation reforms going forward, upcoming budget would be widely eyed by market-participants across the globe.