Budget Documents Won't Be Printed In 2021 Due To COVID-19, A First Since 1947

According to the Finance Ministry, the government could not hold over 100 people in the printing press for a fortnight due to the COVID-19 pandemic situation.

Among the Budget proposals being considered for the Union Budget is that the long term capital gains (LTCG) tax will be fixed at 24 months or two years uniformly for all asset classes.

The Union Budget papers won't be printed this year, for the first time since 1947 due to the COVID-19 pandemic, and both the Houses of Parliament are learnt to have approved it the government. According to the Finance Ministry, the government could not hold over 100 people in the printing press for a fortnight due to the COVID-19 pandemic situation. "Soft copies of the Budget document will be made available," a senior Finance Ministry official told ABP Network. On February 1, Finance Minister Nirmala Sitharaman will present the Union Budget. According to the Cabinet Committee on Parliamentary Affairs (CCPA), the first phase of the budget session will take place from January 29 to February 15, while Part 2 will take place from March 8 to April 8. The Economic Survey will be tabled in the Lok Sabha on January 29, after President Ram Nath Kovind addresses the joint sitting of both houses of Parliament. The Economic Survey is a flagship annual document that analyses the progress of the Indian economy over the past fiscal year and provides a holistic budget summary and will be presented by the Ministry of Finance's Department of Economic Affairs. This year, the survey is of additional importance for a year marked by the coronavirus pandemic and the economic downturn. "During the Budget session, all COVID-related protocols will be followed," said the official. The upcoming Budget session is also likely to be held in two phases, morning and evening, like the Monsoon session, with each House sitting in one shift using both chambers.