Union Budget 2020 : Nirmala Sitharaman to present her second Budget today

Union Finance Minister Nirmala Sitharaman will leave from her home at 8:50 am on Saturday and will reach the Finance Ministry at 9 am. After this, she will leave for Rashtrapati Bhavan and take formal approval of the President to present the budget. She will present the Nirmala Sitharaman budget in Parliament at 11 am on Saturday.

• Economic survey was presented by the Modi government in Parliament on Friday.
• After the approval of the President and Cabinet, the budget will be presented in the Parliament.

The first budget of Modi government 2.0 is going to be presented in Parliament on February 1. Earlier on Friday, the Economic Survey 2019-20 was presented on the first day of the budget session of Parliament. The budget is made on the basis of the economic survey prepared by the Finance Ministry. With the hopes of improving the country’s economy, the Economic Survey has predicted GDP growth rate of 6 to 6.5 percent in the financial year 2020-21.

Union Finance Minister Nirmala Sitharaman will leave for Finance Ministry from her home at 8:50 am on Saturday and will arrive at 9 am. There will be a photo session with Union State Finance Minister Anurag Thakur and officials of the Ministry.

After this, Nirmala Sitharaman will leave the Ministry of Finance for Rashtrapati Bhavan and will take formal approval of the President to present the budget. Then Nirmala Sitharaman will leave for Parliament from Rashtrapati Bhavan and will attend the cabinet meeting at around 10:30 pm. After taking cabinet approval, Nirmala Sitharaman will present the budget in Parliament at 11 am on Saturday.

Earlier, with an expectation of improvement in the country’s economy, the Economic Survey has predicted GDP growth rate of 6 to 6.5 percent in the financial year 2020-21. The development of this budget is expected to remain focused. It is believed that Finance Minister Nirmala Sitharaman can make several important announcements to speed up the country’s economic development and boost investment. Due to this, the economic slowdown in the country and the growth rate can be seen.

Economic Survey estimates GDP growth

The growth in GDP growth in the fiscal year 2020-21 has come at a time when the Central Statistics Office (CSO) has estimated the real GDP growth rate to be 5 percent in the current financial year. In the current financial year, the GDP growth rate came down to 4.5 per cent during July to September, which was a low of the last 6 years. Due to this decline in economic growth, the government is under pressure to take measures for improvement.

The Economic Survey prepared by the government’s Chief Economic Advisor Advisor Krishnamurthy Subramanian suggests a relaxation in the fiscal deficit target to boost economic growth. Nirmala Sitharaman, while presenting the first budget as the Finance Minister in July last year, reduced the fiscal deficit target for the fiscal year 2019-20 from 3.4 per cent to 3.3 per cent.