Budget Session: Lok Sabha adjourned till Feb 1; Economic Survey tabled

The Lok Sabha was adjourned on Thursday afternoon and will again meet on February 1 at 1100 amUnion Finance Minister Nirmala Sitharaman tabled the Economic Survey of India in Parliament for the financial year 202526 setting the stage for the Union Budget which will be presented on Sunday February 1This year the Budget presentation falls on a weekendFM Sitharaman is set to present a record ninth consecutive Union Budget on February 1 marking a significant milestone in Indias parliamentary and economic historyThe tabling of the Economic Survey ahead of the Budget follows the longstanding tradition of outlining the state of the economy before detailing future fiscal plansThe Economic Survey of India is regarded as the nations official annual report card on the economyIt provides a comprehensive databacked review of the economys performance over the previous year and offers a broad roadmap for future policy direction As the governments flagship annual report it reviews key economic developments over the past 12 monthsThe Survey plays a crucial role in the leadup to the Union BudgetWhile the Budget focuses on future government spending taxation and policy measures the Economic Survey explains why those decisions are necessary by analysing past economic performance and trendsThe Economic Survey is prepared by the Economic Division of the Department of Economic Affairs under the leadership of the Chief Economic Adviser CEAIt is presented in two parts each focusing on different aspects of the economyPrime Minister Narendra Modi addressed the media from the parliament ahead of the Budget Session 2026 and praised the IndiaEuropean Union Free Trade Agreement FTA describing it as Free Trade for Ambitious India for Aspirational Youth and for Aatmanirbhar IndiaHe expressed confidence that Indian manufacturers would utilise the agreement to strengthen their capabilities calling the FTA a major step toward building a confident competitive and productive IndiaThis Free Trade for Ambitious India Free Trade for Aspirational Youth Free Trade for Aatmanirbhar India I am confident that especially the manufacturers of India will use this opportunity to enhance their capabilities I am very confident that in a way this is a major step in the direction of confident competitive and productive India said the Prime MinisterPM Modi said Indias democracy and demography have become a source of hope for the world and stressed the importance of sending a strong message to the global community through Parliament which he described as the temple of democracyThe Budget session will span 30 sittings over 65 days concluding on April 2The two Houses will adjourn for a recess on February 13 and reconvene on March 9 to enable the Standing Committees to examine the Demands for Grants of various ministries and departmentsThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever