Central govt to hold all-party meeting on January 27 ahead of Union Budget

NEW DELHI: Union Parliamentary Affairs Minister Kiran Rijiju will convene an all-party meeting of floor leaders of both Houses of Parliament on January 27, ahead of the upcoming Budget Session.

As per sources, the meeting is scheduled to be held in the main Committee Room of Parliament. The government is expected to discuss important national issues and legislative business likely to come before the Houses during the upcoming session.

The Budget Session will commence on January 28 and continue till April 2, with one break. The first phase is scheduled from January 28 to February 13, while the second phase will run from March 9 to April 2. A total of 30 sittings are expected during the session. The Union Budget 2026-27 will be presented on February 1.

The session will formally begin with the President of India, Droupadi Murmu, addressing members of both the Lok Sabha and the Rajya Sabha.

Ahead of the budget, the Ministry of Finance on Wednesday took to X to highlight the previously announced Customs duty rates.

Considering the long gestation period in shipbuilding, BCD exemption on raw materials, components and consumables for ship manufacture was extended for another 10 years. Similar relief provided for ship breaking. Implemented vide Notification No. 5/2025 dated 01.02.2025.… pic.twitter.com/NOTVyncGp8

— Ministry of Finance (@FinMinIndia) January 21, 2026

During the previous Budget sessions, in a decisive move to solidify India’s position as a global electronics hub and to promote domestic manufacturing of electronic goods, the Union Finance Ministry announced an increase in the Basic Customs Duty (BCD) on flat panel displays to 20 per cent. The move was aimed at correcting the inverted duty structure on the goods. The ministry also reduced the BCD on open cells and key components to 5 per cent.

“In line with our ‘Make in India’ policy, and to rectify inverted duty structure, I propose to increase the BCD on Interactive Flat Panel Display (IFPD) from 10 per cent to 20 per cent and reduce the BCD to 5 per cent on Open Cell and other components,” the Finance Minister said in a post on social media platfom X.

To further boost local manufacture of Open Cells for LCD/LED TVs, BCD on parts of Open Cells was fully exempted, building on earlier reductions, it said.

“In the 2023-24 budget, for the manufacture of Open Cells of LCD/LED TVs, I had reduced the BCD on parts of Open Cells from 5 per cent to 2.5 per cent. To further boost the manufacture of such Open Cells, the BCD on these parts will now be fully exempted,” the ministry tweeted.

The all-party meeting on January 27 is expected to set the agenda and ensure smooth proceedings for the forthcoming Budget Session of Parliament. (ANI)