The Budget Session is the longest and most important session of the Parliament of India, held annually at the beginning of the year. It is primarily devoted to the presentation, discussion, and approval of the Union Budget, along with legislative and financial business.
Timing
- Usually held from late January to April
- Conducted in two phases:
- First Phase: January–February
- Second Phase: March–April
- There is a recess in between to allow Parliamentary Committees to examine budget proposals.
Key Events During the Budget Session
- President’s Address
- The session begins with the President addressing a joint sitting of both Houses.
- Outlines the government’s policy priorities and legislative agenda.
- Economic Survey
- Tabled a day or two before the Union Budget.
- Provides an analytical review of the economy.
- Union Budget Presentation
- Presented by the Finance Minister in the Lok Sabha.
- Consists of:
- General Budget
- Railway Budget (merged since 2017)
- General Discussion on the Budget
- Broad debate on budgetary principles and priorities (no voting).
- Department-related Standing Committees
- Examine Demands for Grants during the recess.
- Voting on Demands for Grants
- Lok Sabha votes on ministry-wise expenditure demands.
- Appropriation Bill & Finance Bill
- Legal authorisation for government expenditure and taxation.
Type of Business Conducted
- Financial Business (core focus)
- Legislative Business (Bills, amendments)
- Discussion on national and economic issues
- Question Hour, Zero Hour, Motions
Role of Lok Sabha and Rajya Sabha
- Lok Sabha:
- Has exclusive power over Money Bills
- Votes on Demands for Grants
- Rajya Sabha:
- Can discuss and recommend changes
- Cannot amend or reject Money Bills
Constitutional Basis
- Article 112 – Annual Financial Statement (Union Budget)
- Article 113 – Voting on Demands for Grants
- Article 114 – Appropriation Bill
- Article 110 – Money Bill
- Article 117 – Finance Bill
Importance
- Enables Parliamentary control over public finance
- Reflects government’s economic priorities and fiscal strategy
- Ensures accountability and transparency in expenditure and taxation
- Central to democratic oversight of the executive
