Budget 2020 HIGHLIGHTS | New Reforms Will Boost Employment, Double Farmers' Income: PM Modi
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Background
Union Budget 2020: Amid a year-long downward spiral in the country's economic growth, Finance Minister Nirmala Sitharaman tabled Union Budget 2020 in Parliament on Saturday with an aim to refresh policy priorities in order to catalyze the slowed growth.
The Union Budget was expected to see investments in infrastructure, renewable energy, railways, agriculture, irrigation, mobility, health, water, when it was presented on February 1.
As the GDP growth dipped to 4.5 percent in the last quarter, the government aims to boost demand and revive the economy and how it will be done, remains to be seen. Budget 2019 is crucial in ensuring that India's economy rebounds, as concerns abound on whether the current economic situation will become even worse.
FM Sitharaman tabled her second Union Budget in Parliament on February 1 (Saturday) at 11 am. On January 31, Friday, a day in advance before the upcoming budget session, Chief Economic Advisor Krishnamurthy Subramanian presented the economic survey.
WATCH REPORT | Jan Man Dhan: What Kind Of Budget Will The Modi Government Bring?
Budget 2020 was said to be a crucial event for the Indian economy that has been reeling under lesser consumer spending as well as a decline in gross domestic product (GDP) growth. Several industry experts were hoping that Modi government 2.0, in Budget 2020, will focus on enhanced spending on infrastructure and job creations.
According to market watchers, the Budget will be gauged by its ability to pass on some liquidity to the masses to restart the consumption cycle and to usher in investments. Lately, the economy has suffered from low consumer demand on account of high GST, farm distress, stagnant wages, and liquidity constraints.
This trend referred to as 'slowdown' has pulled down the country's GDP growth rate, and caused job losses. Already, sectors such as automobiles, consumer durables and capital goods have come under heavy pressure due to the slowdown.
Budget 2020 speech- When and where to watch?
The vision of Modi government 2.0 for the Indian economy was revealed through FM Sitharaman’s Budget 2020 speech on Saturday. The Finance Minister delivered the Budget 2020 speech in Parliament on February 1 at 11 am.
ABP LIVE will bring you all the updates and in-depth analysis of Budget 2020. We are covering all the major Budget announcements and post-Budget reactions of political leaders and economic watchdogs.
Below are the direct links to all our social media platforms that would give you real-time updates of Modi government's Budget 2020:
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After FY 2015-16, this is for the first time that a Union Budget was presented on Saturday. When the Narendra Modi government came to power in 2014, it was decided that Union Budget would be presented on the first working day of February instead of the last working day of the month, which means that Budget sessions have been advanced by a month.
A person who is hollow himself, will find everything hollow. I request Rahul Gandhi to educate himself, stay in the country, learn about it and have a positive mindset. Then he will be able to contribute to the country as opposition.
The main areas of employment are agriculture, infrastructure, textiles and technology. In order to increase employment generation, these four have been given a lot of emphasis in this budget.
The goal to develop 100 airports in the country is very important for the tourism sector of the country. In tourism, there is more possibility of employment/income generation with lesser investment.
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