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Union Budget 2018 to be presented on February 1, economic survey on January 29

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New Delhi: The Union Budget 2018 will be presented on February 1, Parliamentary Affairs Minister Ananth Kumar said on Friday. The budget session of the parliament will be conducted from January 29 to April 6, 2018.

Union Budget 2018 to be presented on February 1, economic survey on January 29

The Phase 1 of the session will be held from January 29 to February 9 while the second phase will be from March 5 to April 6, Kumar said.

For the second time, the budget will be presented on 1 February. In 2016, the government advanced the budget presentation to the first day of February, departing from the practice of presenting it on the last working day of the month.

The Budget will be presented by the finance minister Arun Jaitley for the fiscal year 2018-19.

President Ramnath Kovind will address the joint sitting of the two Houses on January 29. Besides, the Economic Survey will also be tabled on January 29.

The fifth budget to be presented by Jaitley comes against the backdrop of interesting circumstances such as the roll-out of GST.

Goods and Services Tax (GST) was rollout on July 1 to make ‘One India, One Tax’.

Also, this will be Jaitley's last full budget ahead of the general election in 2019.

Ahead of the budget, the government is likely to cut taxes on travel and tourism to boost economic growth and job creation.

According to Reuters, the government may give more incentives to the USD 210 billion sectors, which could add to a domestic tourism boom in the world’s second most populous nation.

Yesterday, as per the Central Statistics Office (CSO) report, the economic growth is expected to slow to a four-year low of 6.5 percent in 2017-18, the lowest under the Modi-led government, mainly due to the poor performance of agriculture and manufacturing sectors.

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Delhi airport: Around 900 flights to be affected due to Republic Day, rehearsals

National

Timesnownews

New Delhi: In order to accommodate the rehearsals for the upcoming Republic Day, around 900 flights in and out of Delhi’s Indira Gandhi International Airport will either be rescheduled or cancelled

An estimated 500 domestic flights could be cancelled and as many international flights will be rescheduled due to the restrictions, an airport official said, adding it was being done due to increased traffic and capacity constraints this year.

The airspace over Delhi remains shut for commercial flights due to rehearsals in the days leading to the Republic Day on January 26. According to airport sources, landing and take-off will not be allowed from 10.35 am to 12.15 pm during January 18-26.

"On an average 100 flights will be affected every day. We will accommodate 40 international flights before or after the closure hours. Out of the remaining 60, we will try to reschedule some of the flights. So, we could see roughly 50 flights being cancelled each day," said an airport official.

However, the Delhi International Airport Limited, which operates IGI, stated that no international flights will be cancelled.

"A NOTAM (Notice to Airmen) has been issued regarding the operational restrictions from January 18-26. The issuance of NOTAM for the period leading up to Republic Day is a routine process which happens every year," a source said.

"The international carriers will be requested to reschedule their flight operations. However, domestic flights will be cancelled due to capacity constraints."

The Delhi airport witnesses 67 air traffic movement (both take-offs and landings) per hour between 8 am to 11 pm every day.