Outlook | Union Budget 2023-24: Second Part Likely To Be Held In New Parliament Building

Jan 02,2023

The new parliament building will likely get inaugurated in March 2023, with the second part of the Union Budget 2023-24 to be held there, sources have told PTI. 

Officials have confirmed that the final stage of work is going on in full swing and that the new parliament building is expected to be ready by February. 

In December, Union Housing and Urban Affairs Minister Hardeep Singh Puri had said that the construction work is taking place in a very fast manner.  

The Union Budget is typically held over two sessions with the first one commencing by around January 30. Once it gets concluded by around February 8, the second part starts from the first half of March and usually goes on until May. 

This year’s Union Budget is scheduled for February 1. This will be the last full-year budget before general elections are held in 2024.  

Now, according to parliamentary sources, the second part of this year’s Union Budget will be held in the new parliament building, which is coming up adjacent to the current one. 

The foundation stone for the new parliament building was laid by Prime Minister Narendra Modi in December 2020. It is part of the redevelopment project of the Central Vista complex.

The new parliament is expected to cost the government more than Rs 1200 crore.