Union Budget may be tabled on Feb 1

The Government on Tuesday amid reigning chaos over its demonetisation efforts, announced the Union Budget for the next fiscal year will be tabled before the Parliament on February 1, preponing it from typically last day of February schedule.

Meanwhile, the crucial Parliament session is going to kick off on November 16 when parties in Opposition are expected to launch a serious offence against Prime Minister, Narendra Modi and his government over the chaos on scrapping Rs 500 and Rs 1000 notes. The one-month long session of the Parliament is going to witness high-voltage drama as main opposition, Congress has been working towards striking an allied force taking other political outfits on the opposition bench under one umbrella. TMC supremo and chief minister of West Bengal, Mamata Banerjee is also spearheading the activities talking to other 'secular,' 'anti-BJP' outfits so that they remain vocal against Modi government since the very first day of the upcoming session.

While the winter session is expected to witness exchange of high-level of altercations and arguments involving members of both the Opposition and ruling alliance, crucial bills on health and pharma sectors are also going to be tabled for clearance of the Parliament.

The list includes the Drugs and Cosmetics Bill, HIV/AIDS Bill, Assisted Reproductive Technology Bill and also Biotechnology Regulatory Authority of India Bill. Some of the bills, once cleared and turned into the laws, are going to boost the pharmaceutical companies operating in the country and so, the sector will eagerly look at the happenings in both the houses of the Parliament during next one month.

Meanwhile, sources in the national capital told DSIJ that a decision to table the Union Budget on February 1 has been taken by the Centre and post union cabinet meeting on Tuesday, November 15, a formal announcement may be made.

Ahead of the stormy session of the Parliament, Speaker of Lok Sabha, Sumitra Mahajan has called an all-party meeting to ensure the session leads to some positive impact on the population of the country.

On a latest development this evening, Shiv Sena, an ally of Modi government in the Centre, has decided to join protests against the government's decision scrapping Rs 500, Rs 1000 notes while representatives of some of the outfits are expected to march to Rashtrapati Bhavan and meet Pranab Mukhopadhyay asking him to look into the chaos related to demonitisation process.

The industry and stock markets will keenly watch the happenings in the national capital, come November 16 and markets may even take cues from there in these days of too much of political happenings.