The Union Budget for the financial year 2020-21 will be presented in Parliament today. Economic survey presented one day before the annual budget is present.
The general budget is actually an account of the revenue achieve during the last financial year and the details of the expenses fix for the new fiscal beginning from April 1.
The Economic Survey presented by the Chief Economic Advisor (CEA) analyzes trends in
- agriculture and industrial production
- foreign exchange reserves
- other relevant economic aspects
Budget 2020: On one hand, where unemployment is touching the extreme, on the other hand, the country’s declining growth rate is a big problem.
In the Economic Survey presented on Friday, GDP has been estimates from 6 to 6.5 percent in the year 2020-2021.
New Delhi: Finance Minister Nirmala Sitharaman has started reading the budget speech (Budget 2020-21). She is presenting the budget for the second time as Finance Minister.
The Lok Sabha Om Birla, while approving him to present the budget, said that he congratulated him for presenting the first budget of the decade.
Nirmala Sitharaman, wearing a yellow sari, has mentioned the victory won by PM Modi in the Lok Sabha elections at the beginning of the speech.
He said that it was not only a strong mandate but also a stabilizer.
Referring to the GST, the Finance Minister recalled Arun Jaitley and said that GST came into force due to his foresight and this has ended the dreaded Inspector Raj.
He said that banking system has improved, which has improved the condition of banks.
Till now GST of 40 crores is fills. He said that the foundation of the economy is strong and there has been a change in government functioning between 2014 and 2019.
The Finance Minister said that the government has succeeded in controlling inflation. Over 16 lakh new taxpayers is add last year. Our debt to GDP ratio has decreased.