New Delhi : The Union Budget 2019-20 was presented by Union Finance Minister Nirmala Sitharaman on Friday in the Lok Sabha and it is expected that she might give relief to the farmers and the common man by raising personal income tax threshold for certain categories and upping spending on agriculture, healthcare and social sectors. The Budget is also expected to boost spending at the cost of short-term slippage in fiscal deficit targets.
This is Sitharaman’s first budget in the second term of the Narendra Modi government. It will also be the maiden budget for Sitharaman, who becomes the second woman finance minister after Indira Gandhi to do so. Whenever a new government is elected, the Parliament convenes for the Budget Session and the newly sworn-in Finance Minister presents the Budget outlook for the first year till February 1. The 17th Lok Sabha`s first session started on June 17.
She called on President Ram Nath Kovind at the Rashtrapati Bhavan before presenting her first Union Budget. “As per tradition, Finance Minister Nirmala Sitharaman calls on President Ram Nath Kovind at Rashtrapati Bhavan before presenting the Union Budget,” read a tweet posted from the official handle of President. She was joined by Minister of State (MoS) for Finance Anurag Thakur, Finance Secretary S C Garg, and Chief Economic Advisor Krishnamurthy Subramanian, among other officials.
Here are the highlights from the Union Budget 2019:
* The first term of PM Narendra Modi led NDA govt stood out as a performing govt. Between 2014-2019 he provided a rejuvenated centre-state dynamics, cooperative federalism, GST council and strident commitment to fiscal discipline: FM Nirmala Sitharaman
* India will become a $3 trillion economy this year: FM Nirmala Sitharaman
* The recent election was charged with brimming home and desire for a bright and stable New India. Majboot desh ke liye majboot nagrik (Strong citizen for a strong country): FM Nirmala Sitharaman
Bureau Report
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