Budget presentation on February 1: Will markets open on Sunday?
What's the story
The Cabinet Committee on Parliamentary Affairs (CCPA) has proposed key dates for the upcoming Budget Session of Parliament. Finance Minister Nirmala Sitharaman will present her ninth consecutive Union Budget on February 1, which happens to be a Sunday this year. This will also be the 88th Budget since Independence. The President's address is scheduled for January 28 and the Economic Survey will be tabled in Parliament on January 29.
Session details
Parliament's Budget Session: A look at the schedule
The first part of Parliament's Budget Session will run from January 28 to February 13. The second part is scheduled between March 9 and April 2. Since 2017, the government has been presenting the Budget at 11:00am on February 1, instead of the earlier practice of tabling it on February 28. This was done to facilitate early implementation of budgetary measures with the start of a new financial year.
Past instances
Weekend budget presentation: A precedent and its impact
Presenting the Budget on a weekend isn't new. Sitharaman presented the Union Budget for 2025 on a Saturday. The late Arun Jaitley, former finance minister, delivered the 2015 and 2016 Budgets on February 28, which were a Saturday and Sunday, respectively. The key question now is whether markets will be open on this day. The National Stock Exchange (NSE) is considering keeping equity markets open if the Union Budget is presented as scheduled.
Market status
NSE's decision on market operations pending
The NSE has clarified that no final decision has been taken yet and any move will depend on the central government's official announcement of the Budget schedule. Meanwhile, the Bombay Stock Exchange (BSE) is yet to make an announcement regarding possible opening of equity markets on February 1. Opening markets on a Sunday wouldn't be unprecedented as stock exchanges have operated during non-trading days when Union Budgets were presented on weekends or public holidays.