Budget Session: Lok Sabha adjourned to meet again on Feb 1 at 11 am

New Delhi [India], January 29 (ANI): The Lok Sabha was adjourned on Thursday afternoon and will again meet on February 1 at 11:00 am. Union Finance Minister Nirmala Sitharaman tabled the Economic Survey of India in Parliament for the financial year 2025-26, setting the stage for the Union Budget, which will be presented on Sunday, February 1. This year, the Budget presentation falls on a weekend.
FM Sitharaman is set to present a record ninth consecutive Union Budget on February 1, marking a significant milestone in India's parliamentary and economic history.
The tabling of the Economic Survey ahead of the Budget follows the long-standing tradition of outlining the state of the economy before detailing future fiscal plans.
The Economic Survey of India is regarded as the nation's official annual "report card" on the economy. It provides a comprehensive, data-backed review of the economy's performance over the previous year and offers a broad roadmap for future policy direction. As the government's flagship annual report, it reviews key economic developments over the past 12 months.
The Survey plays a crucial role in the lead-up to the Union Budget. While the Budget focuses on future government spending, taxation, and policy measures, the Economic Survey explains why those decisions are necessary by analysing past economic performance and trends.
The Economic Survey is prepared by the Economic Division of the Department of Economic Affairs under the leadership of the Chief Economic Adviser (CEA). It is presented in two parts, each focusing on different aspects of the economy.
Prime Minister Narendra Modi addressed the media from the parliament ahead of the Budget Session 2026 and praised the India-European Union Free Trade Agreement (FTA), describing it as "Free Trade for Ambitious India, for Aspirational Youth, and for Aatmanirbhar India."
He expressed confidence that Indian manufacturers would utilise the agreement to strengthen their capabilities, calling the FTA a major step toward building a confident, competitive, and productive India.
"This Free Trade for Ambitious India, Free Trade for Aspirational Youth, Free Trade for Aatmanirbhar India. I am confident that, especially the manufacturers of India, will use this opportunity to enhance their capabilities. I am very confident that in a way this is a major step in the direction of confident, competitive and productive India," said the Prime Minister.PM Modi said India's democracy and demography have become a source of hope for the world and stressed the importance of sending a strong message to the global community through Parliament, which he described as the "temple of democracy."
The Budget session will span 30 sittings over 65 days, concluding on April 2. The two Houses will adjourn for a recess on February 13 and reconvene on March 9 to enable the Standing Committees to examine the Demands for Grants of various ministries and departments. (ANI)