Finance Minister Nirmala Sitharaman is set to table the Economic Survey 2024-25 on Friday, offering an official assessment of the economy’s performance for the ongoing financial year. The survey will also outline the key challenges facing the nation. The document has been prepared by a team led by Chief Economic Adviser V Anantha Nageswaran.
On Saturday, Sitharaman will present the first full budget of the Modi 3.0 government, with expectations of changes to income tax slabs, increased funding for infrastructure projects, and larger allocations for rural development and education.
The Budget Session will begin on Friday, with President Droupadi Murmu delivering the address to the joint sitting of the Lok Sabha and Rajya Sabha. The first part of the session will conclude on February 13, followed by a second part starting on March 10. The session will conclude on April 4.
The legislative agenda includes 16 bills, including the Waqf (Amendment) Bill and the Immigration and Foreigners Bill.
16 bills to be tabled in budget session, including Finance and Waqf amendments
Parliament’s Budget session, beginning Friday with the Economic Survey 2024-25, will see 16 bills tabled, including the Finance Bill 2025 and amendments to the Waqf and Banking Regulations Act. A key proposal involves merging the Indian Railways and Indian Railways Board Acts.
Among the other bills expected are amendments to the Disaster Management and Oilfields laws, new regulations for coastal and merchant shipping, and a proposal to rename the Institute of Rural Management Anand as Tribhuvan Sahkari University, granting it national importance.
Additionally, bills concerning aviation sector financial interests, immigration regulations, and the reallocation of Assembly seats for Goa’s Scheduled Tribes will be discussed.
Waqf (Amendment) Bill
This controversial bill, initially introduced in August last year, seeks 44 changes to how Muslim charitable properties are managed. The opposition strongly opposed it, leading to its referral to a joint parliamentary committee led by BJP MP Jagadambika Pal. The committee’s report, presented this week, includes 14 recommendations from ruling party members while rejecting 44 opposition proposals.
Finance Bill 2025
The Finance Bill is significant, especially amid speculation of a new direct tax code to replace the 1961 Income Tax Act. However, sources suggest this may be introduced separately. The bill will still include critical financial reforms and banking law amendments aimed at improving governance and consumer convenience.
Other key bills cover maritime laws, oil exploration regulations, industrial boiler safety, and disaster management reforms to enhance emergency response efficiency. (With inputs from agencies)