Prez says the core of all government policies is for the welfare of the poor, downtrodden, lower caste and deprived.
Modi says this is the first time when Rail Budget has been merged with the Union Budget.
The Bharatiya Janata Party-led NDA government has convened the all-party at 11.30 am while Lok Sabha speaker will meet political party leaders at 7 pm.
BJP and Opposition trade charges over demonetisation and alleged charges of corruption against Rijiju.
Jaitley is scheduled to present the Supplementary Demand for Grants for extra spending for discussion and return.
RBI official K Michael arrested by CBI in Bengaluru in connection with seizure of Rs 570 crore in new currencies.
Opposition uproar over demonetisation may continue as Modi evades reply.
The Supplementary Demand for Grants, presented by Jaitley in Lok Sabha, outlines a gross additional spending of Rs 59,978 crore.
The government is yet to decide on the debate on demonetisation in Lok Sabha as yet but it is likely to be taken up next week.
While the Opposition leaders met in the morning to discuss the floor strategy, Modi addressed the BJP parliamentary party members.