India's Budget Session: Key Legislative and Economic Highlights

The budget session of Parliament begins with President Murmu's address. Key legislative proposals include banking and disaster management reforms. The Economic Survey and Union Budget precede these, while multiple bills on shipping, oil regulation, and ethno-political representation are set to be tabled.

The budget session of India's Parliament commenced today with President Droupadi Murmu addressing a joint sitting of both Houses. This was followed by Union Finance Minister Nirmala Sitharaman presenting the Economic Survey, which precedes Saturday's Union Budget presentation. The survey provides insights into the economy and forecasts for the coming fiscal year.

Among the key legislative items slated for the session are the Banking Laws (Amendment) Bill, 2024, focusing on strengthening banking oversight, and the Railways (Amendment) Bill, 2024, aimed at enhancing railway efficiency. The Disaster Management (Amendment) Bill, 2024, also stands out, aiming to boost the country's response to emergencies.

Additional legislative proposals include the Oilfields Amendment Bill, 2024, aimed at updating oil exploration laws, and several bills focused on maritime issues. Central to these discussions will be the Finance Bill, 2025, crucial for implementing upcoming budgetary and tax reforms slated to be unveiled on February 1.

(With inputs from agencies.)