Perspective: Budget Session 2023 | 13 January | 2023
Summary
TLDRThe video script discusses the upcoming budget session of the Indian Parliament, set to start from January 31 to April 6, 2023, with 27 sittings over 66 days. The session will begin with the President's address and include the presentation of the economic survey and the Union budget. It will be the last full budget before the 2024 general elections. The discussion includes expert opinions on expected highlights, such as infrastructure spending, tax reforms, and welfare schemes, as well as the opposition's expectations for a balanced budget addressing wealth disparity and inflation.
Takeaways
- 📅 The budget session of the Indian Parliament is scheduled from January 31st to April 6th, 2023, with 27 sittings over 66 days, including a recess from February 14th to March 12th.
- 🗣️ The session will start with the President of India's address to a joint sitting of both houses, followed by the presentation of the Economic Survey and the Union Budget.
- 💰 This will be the last full budget before the general elections in mid-2024, and there are high expectations for economic relief and quality spending across various sectors.
- 🌐 The global economic situation, including the ongoing Russia-Ukraine war and its impact on supply chains and crude oil prices, is expected to influence the budget.
- 🇮🇳 India is projected to be one of the fastest-growing economies with a 7% GDP growth rate, which may shape the budget's focus on infrastructure and employment.
- 🛠️ Infrastructure development is anticipated to be a key component of the budget, with a continued push for the 100 lakh crore infrastructure plan to improve logistics costs and competitiveness.
- 💼 There is an expectation for more transparency in income tax and taxation reforms, reflecting the government's approach to economic management.
- 📉 The budget is expected to address wealth distribution and inflation control, with a focus on targeted subsidies and welfare schemes for the empowerment of the poor.
- 🏫 Education is highlighted as a critical area needing attention, with a call for at least 6% of the budgetary allocation to improve primary education infrastructure.
- 🛃 The implementation of GST is a contentious issue, with calls for rationalization, especially concerning its impact on food products and the middle class.
- 🏭 The MSME sector is in need of rejuvenation, with expectations for increased funding to support employment and industry development.
Q & A
When does the budget session of the Indian Parliament begin and end according to the script?
-The budget session of the Indian Parliament begins on January 31st and ends on April 6th, 2023.
How many sittings are there in the budget session, and what is the duration of the session in days?
-There are a total of 27 sittings spread over 66 days.
When is the recess period during the budget session?
-The recess period is from February 14th to March 12th.
What significant event will commence the budget session?
-The budget session will commence with an address by the President of India to a joint sitting of Lok Sabha and Rajya Sabha.
On which date will the Finance Minister present the economic survey, and when will the Union budget be presented?
-The Finance Minister will present the economic survey on January 31st, and the Union budget will be presented on February 1st.
What is the significance of this budget session for the government?
-This will technically be the last full budget of the present government ahead of the general elections to be held in mid-2024.
What are the key expectations from the budget according to Mr. KB Prasad?
-Mr. KB Prasad expects the budget to focus on post-COVID relief for all sections of society, quality spending in all spheres, and the government's presentation through the economic survey.
What does Mr. Prakash, BJP's Member of Parliament, believe will be the key highlights of the budget?
-Mr. Prakash expects an infrastructure push, more transparency in income tax and taxation, and targeted subsidies and welfare schemes for empowering the poor.
What are Dr. L Hanumanthaya's expectations for the budget from the perspective of the opposition?
-Dr. L Hanumanthaya expects a balanced budget between the rich and the poor, controlling inflation, increased budgetary allocation for education, rationalization of GST, and relief for the middle class.
What is the general expectation regarding the economic growth of India as per the script?
-The expectation is that India will be the fastest economically growing country with a projected GDP growth of 7% for 2022-23.
What is the role of the department-related parliamentary standing committees during the recess?
-The department-related parliamentary standing committees will examine the demand for Grants during the recess.
Outlines
📅 Overview of the Budget Session Schedule
The script introduces the upcoming budget session of the Indian Parliament, set to take place from January 31st to April 6th, 2023, with a total of 27 sittings over 66 days, including a recess from February 14th to March 12th. The session will begin with the President of India's address to a joint sitting of both houses, followed by the presentation of the Economic Survey and the Union Budget. This session is particularly significant as it is the last full budget before the mid-2024 general elections. The discussion includes expectations from the budget, with a focus on economic recovery post-COVID and the potential for relief measures across societal sectors.
💼 Economic Outlook and Expectations from the Budget
The second paragraph delves into the economic context of the budget session, acknowledging the global impact of the Russia-Ukraine war on supply chains and crude oil prices. Despite global recession concerns, India stands out with a projected GDP growth of 7% for 2022-23. The speaker anticipates an infrastructure push, transparency in taxation, and targeted welfare schemes in the budget. The opposition's expectations are also discussed, emphasizing the need for a balanced budget that addresses the needs of both the rich and the poor, controlling inflation, and prioritizing education and GST rationalization.
🏛️ The Importance of Smooth Parliamentary Functioning
This paragraph addresses the importance of smooth parliamentary proceedings, with a focus on curtailing disruptions to ensure effective legislative work. The speaker highlights the need for coordination between the government and the opposition, emphasizing the government's responsibility to listen to the opposition's concerns. The discussion also touches on the misunderstanding surrounding the GST, clarifying that it was a joint decision by all states and the central government, and that the MSME sector is thriving due to government support.
🗣️ Opposition's Strategy and Issues with Current Taxation
The opposition's strategy for the budget session is outlined, with a focus on raising issues without disrupting proceedings. The speaker from the opposition criticizes the current taxation system, particularly the high GST rates on fuel and essential goods, and calls for tax relief for the common man. They argue for a more equitable distribution of the tax burden and a revision of the GST structure to benefit the majority of the population.
🤝 The Need for Cooperation Between Government and Opposition
The final paragraph emphasizes the necessity of cooperation between the government and the opposition for the successful functioning of the parliament. The speaker discusses the role of the government in facilitating legislative passage and the opposition's role in raising people's issues. The importance of the spirit of accommodation and fulfilling responsibilities on both sides is highlighted, with a call for a harmonious approach to ensure the smooth functioning of the parliament.
Mindmap
Keywords
💡Budget Session
💡Parliament of India
💡Economic Survey
💡Union Budget
💡General Elections
💡Infrastructure
💡Subsidies
💡GST (Goods and Services Tax)
💡MSME (Micro, Small and Medium Enterprises)
💡Parliamentary Scrutiny
💡Legislative Agenda
Highlights
The budget session of the Indian Parliament will commence from January 31 and conclude on April 6, 2023.
There will be 27 sittings over a period of 66 days, with a recess from February 14 to March 12.
The session will start with the President of India's address to a joint sitting of both houses of Parliament.
The Economic Survey will be presented on January 31, preceding the Union Budget on February 1.
This will be the last full budget before the general elections in mid-2024.
Expectations are high for the budget, especially for relief measures post-COVID-19 pandemic.
The government is anticipated to have room for quality spending in various sectors.
The first address by the new President of India to a joint session is a traditional practice marking the beginning of the year.
The world economic scenario, including the Russia-Ukraine war's impact, is expected to influence the budget.
India stands out as a bright spot in the global economy with a projected GDP growth of 7% for 2022-23.
Infrastructure push is expected to continue with a 100 lakh crore infrastructure plan.
Transparency in income tax and taxation reforms are anticipated.
Public welfare schemes and targeted subsidies for the empowerment of the poor are expected.
The opposition seeks a balanced budget that addresses the needs of both the rich and the poor.
Inflation control and increased budgetary allocation for education are among the opposition's expectations.
The opposition also calls for rationalization of GST implementation and increased slabs for the middle class.
MSME sector rejuvenation and addressing unemployment are key issues for the opposition.
Ensuring smooth functioning of the house and curtailing disruptions is a priority for the presiding officers.
The government aims for a productive session with responsible opposition and patient hearing of issues.
The opposition emphasizes the need for the government to listen to their voice and address concerns for meaningful discussions.
Parliamentary tools are available for the opposition to raise issues, but the spirit of accommodation is crucial.
The government's priority is to get the legislative agenda passed, with the opposition focusing on raising people's issues.
Transcripts
foreign
[Music]
you're watching our show perspective
where we bring you detailed analysis of
key National and international issues
today we're going to talk about the
budget session of parliament which will
begin from 31st of January and end on
6th of April 2023. now there will be a
total of 27 sittings spread over 66 days
the recess will be from 14th of Feb to
12th of March during this time the
department related parliamentary
standing committees will examine the
demand for Grants the budget session
will commence with an address by
President of India to a joint sitting of
Lok Sabha and rajya Sabha in this
Central Hall of parliament Finance
Minister will present the economic
survey on 31st of January which will be
followed by Union budget presentation on
1st of February now this will
technically be the last full budget of
the present government ahead of the
general elections to be held in mid 2024
so today we will take a stock of what is
expected in the budget session now this
time around and what are the key issues
on the agenda both for the opposition
and the government as well of course
apart from the budget and for more on
this we joined by distinguished panel of
experts let me first introduce them to
you beginning with Mr KB Prasad who's
here with us in the studio senior
journalist he's been keeping a close
watch on parliamentary proceedings for
uh quite a long time now and we're also
joined by two members of parliament uh
prakash
bjp's Member of Parliament from rajya
Sabha is with us also Dr L hanumanthaya
Congress is a member of parliament from
rajya Sabha is also joining us welcome
both of you gentlemen as well to Sunset
television I'll quickly begin with you
Mr Prasad before I go to uh the members
of parliament here and seek their views
as to what do you think should be or is
likely to be the key highlights of this
particular session because this is going
to be uh technically you know the last
full budget session of this government's
tenure well much is anticipated already
you see several reports are coming on
and what kind of budget will the Finance
Minister give to the country because
there are a lot of hopes and
expectations especially the economy has
taken a turn for good we've seen all
reports and of course the government
will give its presentation through the
economic survey a day before the budget
is presented uh in all people are
anticipating that post covet we can
expect some kind of Alderaan relief for
all sections of society in particular
and the government will have some Elbow
Room to do some quality spending more in
all all spheres so that's and as you say
budget session by very name is important
because for the whole year the country's
uh expenditure and revenue is decided
and that's the key takeaway from this
session okay okay we'll come back to uh
you know the the specifics of that part
as well but one more uh you know
interesting aspect of this budget
session will be the first address
to the Joint sitting of both houses by
the president of India the new president
uh
will address the sitting of both members
of both the houses so that is because
the first session of the new year is
starting commencing and by tradition
that has been the practice so we'll see
that this time you're right okay okay Mr
Jefferson uh I'd like to bring you in
here you know as Mr Prasad was saying
and everybody uh is also uh you know uh
is on a lookout for uh what is expected
in the budget given the fact that this
will be uh technically the last full
budget of uh you know the government uh
this senior specifically before the
elections are announced in mid 2024 so
what is it that people of the country
can expect
I think we must at the same time first
see the world scenario
because Russia and Ukraine war
now has completed 11 months and is no
chance of stopping immediately it
doesn't seem likely
and therefore the problems of supply
chain
and short supply and crude prices and
many other things will continue world is
facing recession Europe and America
the inflation there is very much
so it will have impact on World economy
but fortunately and because of modi's
strategy for last eight and a half years
we have been seen as the only bright
spot in the economy
throughout the world and
all world economies are either shrinking
or growing at snail space with two
percent or maximum 2.5 percent but India
is the only country which is the fastest
economically growing country with seven
percent uh GDP growth projected for 20
to 23. so this is very important and
based on that there is expectation in
the country
and what I can see with the experience
of eight years of modi's pattern of
budget he goes into thinking process
to a great extent and now the things are
on
the session even yesterday he talked to
many economists and therefore he takes
all views into the stride and then
shocks out the main decision process
which finally Finance Minister brings
out in budget Okay so
I expect that there will be
infrastructure push will continue
because we have 100 lakh crore
infrastructure plan so last year it was
seven lakh crore this year also I expect
and that will really improve the
employment situation industry
destination FDI and everything because
infrastructure is a key to reduce our
Logistics cost and being a be
competitive in the World Market second
will be more transparency in income tax
and Taxation okay that is already
brought and I definitely expect that it
is not just the mere lip sympathy for uh
the action on ground about the taxation
is very so there will certain some
reforms also we proposed in processes
and many other things okay third the
welfare last Point third point is that
Modi Governor government is known for
delivery of all public welfare schemes
so you can expect that more targeted
subsidies and targeted welfare schemes
for empowering poor will be there there
will be peace prosperity and Industrial
Development and Employment Development
through infrastructure and policies for
middle class and therefore it will be a
budget leading to more Prosperity okay
okay
you know uh what are the oppositions
expectation uh when we're talking about
this last full budget of of this
government and also you know what's
what's your strategy for the budget
session
so no we wanted this budget to be
a balanced budget between the rich and
the poor
see in the country as it is
a few Rich warning the maximum wealth of
the country
the majority Ray poor are warning the
small portion of the wealth
so this has to be balanced by taking
measures by the finance ministry
my expectation in this is the inflation
has to be controlled for which the
actions has to be taken by the finance
ministers but the last eight years what
I am observing in these budgets of the
modiji's government is
subsidies are shrinking
people who really need the subsidies are
being denied an account of that their
life has become miserable
and I want education to be given utmost
importance at least six percent of the
budgetary allocation has to be made for
education so that the primary education
in the whole country particularly in
government schools the infrastructure
has to be increased and it should be
improved then only there will be a
quality education in the country the
second most important thing what I have
observed is
implementation of GST
is across the country there is a feeling
there is an unscientific implementation
of GST in the country that has to
collabed a slab has to be brought even
on foot grains and food products the GST
has been implemented levied in a big way
which is not correct in the interest of
the majority of the people so that has
to be rationalized and the government
has to really look in this case second
is salary class where the majority of
the people majority of the middle class
are involved their minimum slab has to
be increased it is 5 lakhs now I think
at least it should be eight lakhs so
that they can get some relief in the
middle class and the majority of the
people okay so the next important aspect
the last point I wanted to share with
you
due to GST and the corona
lot of MSM is have closed in the country
this MSM is has to be rejuvenated to get
more jobs to the people of this country
so for that I expect a reasonable
increase the in the funds for msme
sector and Industrial sector so that the
unemployed and people who are involved
in the msme sector can be rejuvenated
okay there will be an unemployment
problem can be solved okay okay okay uh
Mr Prasad you heard both of them while
the government has its strategy which is
uh the budget or the budget session is
concerned the opposition also has a
specialist and strategy as well in terms
of major issues which reflect in what
what Dr hanumanthiya was saying but
apart from the budget in the budget
session you know there are other bills
as well which are taken up and there are
several pending legislations and several
others uh you know key legislative
issues which have been part of the
discussion either in the standing
committees or you know outside the
parliament as well data protection is is
one of them how many do you see you know
uh being on the agenda list of the
government ensuring that they get passed
during this session well I think we yet
to hear the priority list of the
government because we all know that
budget session primarily the focus of
the government of the day always is to
get the finance bill through and that is
a process it takes a certain
parliamentary scrutiny as you also
mentioned once the budget proposals are
presented to the house and then it goes
to the Committees and where they're
discussed in detail and their committees
report back to the house and then the
house takes up discussions according to
the demands of Grants and in Raj Sabha
we have working of Ministries because
they don't have the finance power the
power of the purse remains with Lok
Sabha having said that I think but the
government obviously will have to look
at limited period that will have post
the clearances of the budget to try and
push some of the key legislative bills
which it has to prioritize as you
mentioned probably data protection bill
for instance or some other bill which
the government is already talking off
and will not want to bring forward so
that is something which we'll have to
wait and see because there will be a
very limited window available for the
government to put push other legislature
agenda because by tradition
governments do concentrate to ensure
that the finance bill is cleared and
everything else Falls in place
accordingly okay okay now let me let me
bring in a very important issue which
has been you know uh part of the
discussion for uh uh quite a few uh
years now and uh in the last few days we
heard you know presiding officers all
India presiding officers conference the
chairman of rajya Sabha and the speaker
of Lok Sabha as well both of them raised
that issue that is ensuring smooth
functioning of the house you know
curtailing as much as possible the
process of disruption and uh I'd like to
start with you you know because the
house will can only function uh with
coordination between both the government
and the opposition so I'll ask both of
you but I'll start with you Mr jabrikan
and I'm looking at the figures you know
uh as far as 2022 budget session is
concerned
in terms of productivity in Lok Sabha it
was 129 percent in rajya sabhai it was
98 in 2021 Lok Sabha was 114 percent
rajya Sabha was 90 percent and uh in
2020 uh you know it was 90 for Lok Sabha
74 for rajya Sabha and in 2019 uh Lok
Sabha was 89 percent in rajas about was
pretty less so so if we look at these
figures you know it shows us that there
is a lot of scope for improvement here
there is a lot of scope for work needs
to be done to ensure that there is
smooth functioning what is it that the
government is willing to do
definitely because government is a
responsive government
what we need is responsible opposition
and when there is a responsive
government you can take it then we will
have very productive session that is how
we hope because every issue on the earth
can be raised which is relevant to India
by anybody and that the process is very
well we should not run away from the
discussion but more importantly as
hanumantha is said
there is misunderstanding on GST which I
must make it very clear that GST is the
only law which has been drafted rules
have been framed and
the rates have been decided jointly by
all the states and Center together
centers Finance ministers are there they
were all unanimous decisions and till
today every month GST Council meets and
takes a decision so that council is a
freedom to take any important decision
so this is first misunderstanding second
is about wealth Creator there is a
global narrative deliberately spread
that oh
wealth is concentrated in few hands or
if they are wealth creators
so well Creator because that only gives
employment to everybody else so we
should not be seen in the terms of their
market capitalization figures and
and other things so uh we must make
clear about this and I can tell you very
clearly okay that uh even as MSN is MSM
is having given two doses of 1.5 lakh
crore is giving them guarantee and our
95
MSM is a working and prospering because
now they are more role and the pil
scheme production linked Insurance
scheme also is working very well okay
okay okay
you know quite a lot of issues you
mentioned in your first response and uh
you know going back to my original
question is ensuring smooth functioning
of the house what is the opposition
strategy that you end up raising your
issues as well but not disrupting the
proceedings
after the smooth functioning of the
house anyway lies with the ruling party
always
they should have a patient hearing to
the voice of the opposition parties
their differences on political issues
are different see tournament ruling
party always must have one clear
Direction there is
a meeting before the parliament session
starts but when will be the issue will
become aggravated when the government
does not hear the opposition voice
properly so I wanted to tell you again
and again the government should have a
patient hearing and hear them properly
solve the problems in their meetings and
ask for a meaningful discussion the
oppositions are always ready to have a
smooth functioning of the parliament
this is number one sir number two I
again wanted to answer our friend
we essentially we have collected
27 lakh crore from the fuel and we are
buying between 45 dollars to 72 dollars
uh the crude oil
so can we offer to have such a big
taxation on our own Country Bank can we
have to do so
so I will see if we have sufficiently
achieved the infrastructure I have no
doubt about it but can we have to burden
them much more like this it is not
required even on even on third we are
taxing so much which are being used by
the poor people of this country so I
request the government particularly the
the Finance Minister
revise the GST taxation
and if even if it is reduced the fuel
tax collection from 27 crore to some
more lacks less than that nothing will
be harmed in the country okay we can
continue well so think about the
majority of the people not the minority
who are very rich and on them you we
don't touch them see we give lot of
repent to the corporate sector
in taxation but we tax the common man in
a big way 28 slab is applicable to
Common Man more than the corporate
sector okay so where are landing where
are we standing okay that is where my
request is rationalize the GST taxation
give some relief to the majority of the
people of this country they should also
have a space to have a peaceful living
in the country okay that should be a
budget and that should be our thinking
of budget okay okay uh Mr Prasad you
know uh you heard both the gentlemen
here from the uh treasury in the
opposition benches you know uh they have
their issues they have their point of
view on on various issues and it has
been a very uh harmonious debate which
has been going on on Sunset television
but inside the sunset inside the
parliament is the main question which I
want to put to you you know how how do
you uh you know see this budget session
moving forward given the fact that
opposition always has its you know on
issues to try and you know Corner the
government and the government has the
responsibility of bringing in
legislations getting them passed as well
but both sides will have to work in
tandem with each other to ensure that
there are no disruptions as both the
presiding officers have been pointing
out time and again well I think Michelle
we do realize that over a period of time
the saying as it goes the opposition can
have it say the government will have its
way that's the way it has been
functioning but for that to happen both
the opposition and the government need
to work in tandem as you also pointed
out and work out how best issues that
the opposition wants to bring up for
discussion and debate are raised and in
what form and fashion because there are
enough parliamentary tools available but
the question is when they move there is
a system and the process kicks in so if
it falls in that the presiding officers
do decide the bses do decide all these
processes are available so it all
depends on how much is the spirit of
accommodation that we see over the years
how it builds there have been times
where there has been a stalemate between
the opposition of the day and the
government of the day but eventually the
floor managers and the Parliamentary
managers of different political parties
sit down and come to an understanding
everybody knows I still remember one
particular instance when uh late promote
majunji was the Parliamentary affairs
minister and Mr balam mukhoji then was
the leader of opposition leader house in
rajya Sabha he said the first thing you
would ask in a meeting you tell me
government should tell what are the
priorities we will give priority to
passage of those bills and then we'll so
there was a uh and I think surely
somebody has experienced Mr javadekar
would have experienced similar
experiences to share with their viewers
so it has been the practice uh well as
as you also know and everybody knows the
government has the priority to get the
legislative agenda through that priority
cannot be dismissed the only question is
how much of spirit how much of
accommodation can the opposition get
into the oral problem okay okay so the
spirit of accommodation there from both
sides and fulfilling their own
responsibilities uh government has the
responsibility of getting the
legislations clear opposition has a
responsibility of raising people's
issues which they seem of it thank you
so much Mr KB Prasad Mr prakash
as well uh you know that's all about
what is expected in the budget session
as we heard all the panelists let's now
wait and watch till 31st of January when
the budget session begins with the
president's address to join sitting of
both houses in the central Hall of the
parliament and that will be followed by
economic survey and then the most
important document that's the union
budget which will be presented on 1st of
February by Finance Minister we here at
Sunset TV will keep on bringing you all
the details live and Analysis as well
till then keep watching thank you
foreign
[Music]
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