“Goods and services tax is a long-term policy which is making business transparent” : President Ram Nath Kovind
The session started with the President of India, Ram Nath Kovind delivering an address to the joint sitting of Lok Sabha and Rajya Sabha.
Budget session which will end on February 13, began today. As the next two weeks will comprise the last session of the 16th Lok Sabha, the government will hope to get bills such as triple talaq bill and The Citizenship (Amendment) Bill passed.
The government is due to present the interim budget in Parliament on February 1. That will mark the last budget before the general election due by May this year. The Union Budget 2019 will be crucial for Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) as it offers one last opportunity to announce some popular measures ahead of the elections, where Prime Minister Narendra Modi will seek a second term.
The government is expected to announce a slew of measures to woo rural voters and urban middle class. Since this is an election year, there are chances that the central government would go for higher spending. However, there are palpable concerns regarding the slow growth, the HSBC report says.