Budget 2020: Nirmala Sitharaman arrives in parliament with red cloth Bahi Khata
Finance Minister Nirmala Sitharaman arrived at Parliament to announce her second Union Budget 2020-2021 in Lok Sabha today. As she rises to reveal her answer to a frail economy, steps to boost consumer demand and revive growth will be watched closely. The government is widely expected to raise spending on infrastructure and cut some personal tax to spur consumer demand and investment. The stock markets, which have been volatile ahead of the Budget day, will remain open for a special trading session.
Finance Minister Nirmala Sitharaman arrives in the Parliament with Red Cloth bahi khata; for the presentation of Union Budget 2020. Nirmala Sitharaman's family has also arrived there for the Budget session of the Parliament. In 2019, Nirmala Sitharaman broke an age-old tradition of carrying a briefcase to Parliament to present the Union Budget. She carried a 'bahi khata' instead. A bahi khata is a traditional Indian ledger typically used by businesses in the country.
Finance Minister Nirmala Sitharaman with her team meets President Ramnath Kovind ahead of the budget 2020 presentation in the Parliament today. The Finance Minister is set to outline steps such as higher spending in rural areas and possible tax cuts in her budget speech scheduled at 11 am today. The government may relax its fiscal deficit target in the Budget as the economic slowdown lowered revenue collections and the government provided a tax stimulus to spur investments.
Finance Minister Nirmala Sitharaman leaves for the Parliament to announce the 2020-21 union budget, in New Delhi. The Union Budget comes at a time when the GDP growth rate has been spiralling downwards in the last five quarters. It slowed to 4.5 per cent in the July-September quarter - the weakest pace since 2013. Nirmala Sitharaman prepares to table her second Union Budget, her ministry is likely to provide income tax relief to the middle class with an aim to boost consumption amid sluggish economic growth.
Finance Minister Nirmala Sitharaman presents the Union Budget for 2020-21 in Parliament today. Just like every year, financial experts and the common man will eagerly monitor any announcements on taxes. From changes in income tax rates to the reintroduction of the standard deduction and a higher income threshold for the rebate, the government has made a few changes in the income tax rules over the past few years.