Home / News / India /  Sensex always down on Budget day, but gained 5% in 2021

Investors will keenly watch how Union finance minister Nirmala Sitharaman balances the need to spend big to spur a budding economic recovery amid limited fiscal room as she rises to present the Union budget tomorrow, February 1, 2023.

The Union Budget might be a non-event for some, but if you go by history, the Sensex has generally been down on Budget day. The Sensex was down on 11 occasions, while it advanced nine other items, with the highest gain of 5% in 2021.

“In the past 20 budgets, including both the interim and the full-year budget in election years, the #Sensex has given a thumbs down on 11 occasions, while it advanced nine other times, with the highest gain of 5% in 2021. Only a few among the key sectoral indices tend to end in green on the D-day," the chart read.

Take a look at the chart below:

The budget session of Parliament will begin today with an address by President Droupadi Murmu to the joint sitting of the two Houses of Parliament. Economic Survey will also be tabled in Parliament on Tuesday ahead of the Union Budget on Wednesday.

There will be a separate sitting of the Rajya Sabha for the transaction of government business, half an hour after the conclusion of the President's Address on January 31. However, the sitting will be held for a short duration as per procedures for the transaction of government business.

The session will take place in two parts with the first part concluding on February 13. The second part will be held from March 13 and will conclude on April 6.

The first part of the session would also see a discussion on the Motion of Thanks to the President Address. Prime Minister Narendra Modi will reply to the debate in both Lok Sabha and Rajya Sabha.

The government will also push its legislative agenda in the budget session.

According to government records, 26 Bills are currently pending in the Rajya Sabha and nine in the Lok Sabha.

Amongst the 26 Bills pending in the Rajya Sabha, three Bills have already been passed by Lok Sabha including the Inter-State River Water Disputes (Amendment) Bill, 2019, the Constitution (Scheduled Tribes) Order (Third Amendment) Bill, 2022 and the Constitution (Scheduled Tribes) Order (Fifth Amendment) Bill, 2022.

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