The Government of India is likely to maintain the traditional February 1 date for presenting the Union Budget, according to sources who spoke to CNBC-TV18. This decision reflects the government's intention to continue with the established schedule for the annual financial presentation, even as official announcement on the dates of the Budget Session of Parliament is still awaited.

Budget Preparation Timeline

According to sources, preparations for the annual financial exercise are proceeding on the assumption that the finance minister will present the Budget on the customary date. Any deviation from February 1 is seen as unlikely at this stage, despite the absence of a formal notification from the Parliamentary Affairs Ministry.

Weekend Presentation Precedent

Presenting the budget on a weekend would not be unprecedented for the government. In recent years, the Union Budget has been tabled on non-working days to avoid disruption to financial markets. The budget for 2020-21 was presented on Saturday, February 1, establishing a precedent for weekend presentations when the date falls on a non-working day.

Parliamentary Session Coordination

The budget session dates are typically announced by the Parliamentary Affairs Ministry closer to the session, following consultations with key stakeholders. An official confirmation regarding the exact dates is expected in the coming days, which will provide clarity on the parliamentary schedule for the upcoming budget session.

Significance for Stakeholders

Maintaining the February 1 date allows adequate time for budget preparations and ensures that financial proposals can be implemented effectively from the beginning of the fiscal year. The Union Budget serves as a key policy document outlining the government's fiscal priorities, expenditure plans, and reform roadmap for the upcoming financial year.

The predictable timing of the budget presentation allows financial markets, businesses, and investors to prepare for potential policy announcements and fiscal measures. This consistency in scheduling helps maintain stability in market expectations and planning cycles for various economic participants.

Union Fertilizers Minister Jagat Prakash Nadda inaugurated an integrated e-bill system on Thursday that will enable the government to process fertilizer subsidies worth approximately ₹2.00 lakh crore. The digital platform represents a significant transformation from manual, paper-based processes to a fully automated workflow, eliminating the physical movement of bills entirely, according to an official statement.

Digital Transformation Initiative

The system marks a major shift towards technology-driven governance in fertilizer subsidy management. "This online system will play a significant role in strengthening transparent, efficient and technology-driven governance," Nadda stated at the launch event. Fertilizers Secretary Rajat Kumar Mishra described the launch as "a major milestone in modernising the department's financial operations."

Technology Partnership Framework

The initiative stems from a technological collaboration between two key financial management systems. The Integrated Financial Management System (IFMS) of the Department of Fertilizers has partnered with the Public Financial Management System (PFMS) of the Controller General of Accounts, Ministry of Finance, to create this comprehensive digital platform.

Enhanced Transparency and Control

Controller General of Accounts Santosh Kumar emphasized that the transformation "significantly enhances transparency and accountability by creating a centralised and tamper-proof digital audit trail for all financial transactions, thereby facilitating easier monitoring and audits." The system provides real-time oversight of expenditures and strengthened financial control, with all payments tracked and reported centrally.

Key transparency features include:

• Centralised digital audit trail for all transactions
• Real-time expenditure oversight
• Tamper-proof transaction records
• Enhanced monitoring capabilities for audits

Operational Benefits for Companies

The e-Bill platform transforms how fertilizer companies interact with the subsidy system. Companies can now submit claims online and track payment status in real time, eliminating the need for physical visits and manual follow-ups. Joint Secretary Manoj Sethi noted that the system "enables end-to-end digital bill processing, which will significantly accelerate payment timelines, including timely release of weekly fertilizer subsidy payments."

Built-in Security and Fraud Prevention

The system incorporates robust built-in controls designed to ensure payment accuracy and prevent fraudulent activities. These controls validate payments against predefined criteria, log every action for comprehensive audit purposes, and significantly reduce the risk of fraud. The platform enforces a standard electronic workflow, including first-in-first-out bill processing, ensuring consistency and compliance with established financial rules throughout the subsidy distribution process.