If the reports are to be believed, The government is trying to change a long British-era tradition of presenting the Union Budget on the last day of February and mmight present the same in January.

Although the decision has not been finalized yet, the sources said that the government is considering completing the budget exercise before the end of the financial year on March 31. It will make the policy transmission much faster and the department will be able to spend the money from the start of the financial year instead of waiting till May for maney to be actually allocated.

A source said, “We have not decided the date but it may be at the end of January.” He added that the preparations for the Republic day have to be kept in mind. Earlier, the Appropriations Bill for expenditure as well as Finance Bill for tax changes have been cleared by the parliament.

The Center is exploring every new way as it is changing the economic policy from the next financial year and the way the budget has been presented. Earlier the Atal Bihari Vajpayee government had changed the time of budget presentation from 5 pm to 11 am in 1999 ahead of the 2012 UP assembly polls.

The government has also setup a committee to review the financial year and it is expected to present its report later in the year. According to the experts, the changes in dates will force the finance minister to re-frame budget calender with the review meetings starting in September or in early October.

By Prajakt K.