Get ready for starting parliamentary action as the Budget session is gearing up to kick off from January 31 to February 9, as reported by various media outlets. Finance Minister Nirmala Sitharaman is all set to unveil the Interim Budget for the fiscal year 2024-25 on February 1.

To officially open the budget session, President Droupadi Murmu will address both houses on the first day. One of the highlights of the interim budget might be a proposal to double the PM Kisan Samman Nidhi for female farmers, potentially costing the government an extra Rs. 12,000 crore. All eyes are on February 1 when the budget details are expected to be revealed.

This year's budget is different from previous ones, as it is an interim budget rather than a comprehensive one. The Lok Sabha elections are just around the corner, scheduled for two or three months from now. In an election year or when time is short for a full budget, the ruling government opts for an interim budget. The new government following the elections will be responsible for drafting the entire annual budget.

In a departure from the usual lengthy Economic Survey, this year's budget will include a brief report on the status of India's economy for 2024-25, set to be presented on February 1.

The finance ministry has already sought expenditure proposals for the second and final batch of Supplementary Demands for Grants from various ministries and departments. This move comes ahead of the Budget session, expected to commence in the last week of January.

This upcoming session, marking the conclusion of the 17th Lok Sabha before the general elections, will involve seeking expenditure approvals from Parliament for the four months until July 2024 through a vote on account. According to an office memorandum from the finance ministry, the second batch of Supplementary Demands for Grants for 2023-24 is slated to be presented during the upcoming Budget session. Eligible cases for inclusion under these demands will encompass those where advances from the Contingency Fund have been granted.

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