Zee Media Bureau
New Delhi: The Budget session of Parliament is likely to start from February 23, sources said on Tuesday.
Parliamentary Affairs Minister M Venkaiah Naidu today said a meeting of the Cabinet Committee of Parliamentary Affairs (CCPA) has been called tomorrow to discuss about the Budget session and its schedule.
"You need to give 15 days' notice to the members to send questions. We will discuss the possible and probable date of the Budget session in the meeting," he said.
All eight ordinances, including one on raising the FDI limit in the insurance sector from 26 percent to 49 percent and e-auctioning of coal mines, will be taken up for ratification in the Budget session, sources added.
As per the rules, an Ordinance has to be converted into legislation within 42 days of commemencement of Parliament session else it lapses and an Ordinance can be repromulgated only three times.
The market entities believe the upcoming Budget could be a make or break event as this would be first full Budget from new government and hopes are high with Finance Minister Arun Jaitley indicating start of second-generation reforms going forward.
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.
