Modi govt’s first Budget Session begins today

The Budget Session of the 16th Lok Sabha is set to begin today with high expectations. The Modi government will be presenting its maiden Rail Budget on Tuesday and the General Budget on 10 July.

A heated debate is expected in Parliament as the Opposition parties are likely to take up the issue of price rise, fuel price hike and the revision of rail fares. Congress will also try and corner the government over the Madhya Pradesh Professional Examination Board scam. Meanwhile, the Congress leaders who have been demanding the Leader of Opposition post will hold a strategy meet before Parliament session begins on Monday. As per the list of business, Home minister Rajnath Singh will be introducing the Andhra Pradesh Reorganisation Amendment Bill 2014.

The government is also likely to make a statement on the condition of Indians in Iraq on the floor of the house. In its endeavour to tackle inflation, the emphasis of the government is on the supply of cereals, pulses, onions, potatoes and tomatoes.

The states have been asked to identify pockets vulnerable to scarcity and to establish price monitoring cells. The states have also been asked to set up revolving fund to be used for market interventions when needed.

The Centre is likely to set up price stabilisation fund to help states. The Centre has asked the states to discourage hoarding, cartelisation and artificial shortages. The BJP leaders have claimed that the upcoming Union budget would focus on efforts to put the faltering economy back on track. “In legacy, we have got an empty treasury.

Due to the problem in Gulf countries, the prices of oil are going up, but the avenues to earn revenues are still the same. So Finance Minister Arun Jaitley will take all the steps that have to be taken to bring back the derailed economy on track,” BJP leader Shahnawaz Hussain said.