Prime Minister Narendra Modi on Tuesday explained the reason behind shifting the dates of Annual Budget to beginning of February instead of at the end of the month.

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Modi said that the existing budget calendar, the authorization of expenditure comes with the onset of the monsoon. Thus, it results in government programmes being relatively inactive in the productive pre-monsoon months.

"Keeping this in view, the date of budget presentation is being advanced, so that expenditure is authorized by the time the new financial year begins," Modi said.

On Tuesday, Modi attended an interactive session with economists and other experts, organized by NITI Aayog, on the theme “Economic Policy – The Road Ahead.”

During the session, participants shared their views on on various economic themes such as agriculture, skill development and job creation, taxation and tariff related matters, education, digital technology, housing, tourism, banking, governance reform, data driven policy, and future steps for growth.

Listening to their views, Modi thanked for their suggestions and observations. 

Finance Minister Arun Jaitley, the Minister of State for Planning, Rao Inderjit Singh, Vice Chairman NITI Aayog,  Arvind Panagariya, and senior officers from the Union Government and NITI Aayog were also present.