The Union budget will be presented in parliament on February 1, sources said, adding President Ram Nath Kovind will address both the Houses - Lok Sabha and Rajya Sabha - on January 29. The budget session of parliament will be conducted in two parts. The first phase of the session will begin on January 29 with President Kovind's address and end on February 15. The second phase will run from March 8 to April 8, sources said.