Today there will be traditional pudding ceremonies
Halwa Ceremony will be held today on Saturday before the Union Budget 2021 to be presented by Finance Minister Nirmala Sitharaman for the coming financial year.
- January 23, 2021, 11:25 AM IST
‘Halwa Ceremony’ will be celebrated today
According to information received from the sources, the budget ceremony will be organized. After this ceremony, the officials said that the employees involved in the process of budget formation will be kept in the basement of North Block for 10 days till the budget is presented. The team that prepares the budget is not in contact with anyone after the halwa ceremony, until the budget is prepared. Even the family members do not keep in touch with them.
Budget session will run till 29 January 15
The first phase of the budget session will begin on January 29 and will end on February 15. The second session of the budget will run from March 8 to April 8. The budget session will begin on January 29 with the President’s address. The budget will be presented on 1 February. Union Parliamentary Affairs Minister Prahlad Joshi has told that the second phase of the budget session will be from 8 March to 8 April. He said that Kovid-19 protocol will be given due attention during the session.
Also read: Budget 2021: Expectation of real estate sector, increase in upper limit of affordable housing will increase demand
Due to Kovid-19 this year, there will be no printing on budget paper. Apart from this, Economic Survey will also not be printed on papers. The Economic Review will be laid on the Table of Parliament on 29 January. This year both these documents will be given to the public in electronic form.
These are the expectations from the budget
Gross domestic product (GDP) growth rate is also expected to be 5 percent at the end of the current financial year. In this situation of poor economic data, the general budget 2020-21 is expected to increase employment generation, consumption and demand.
At present, under Income Tax Act 80CCE, under Section 80C, 80CCC and 80CCD (1), a total income of Rs 1.50 lakh in a year is exempt from income tax. People are expecting the finance minister to increase it to Rs 3 lakh.