Union Budget 2020: The Modi government is due to present the Union Budget for FY in Parliament on February 1. As the countdown for the Union Budget 2020 has begun, all eyes are set on what measures will be announced by the Finance Minister Nirmala Sitharaman.
People are hoping that the Budget 2020 will bring some relief for the individual tax payers as well
Budget 2020: Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will remain open on February 1, 2020; the day on which Budget 2020 will be presented by Finance Minister Nirmala Sitharaman in the Lok Sabha. February 1 is a Saturday, a day on which stock markets are usually closed.
The Indian Railways is yet again expecting the highest-ever outlay for capital expenditure of over Rs 1.70 lakh crore from Union Finance Minister Nirmala Sitharaman, who is set to present the Budget on February 1.
These recommendations are part of proposals made by the commerce ministry for the forthcoming Budget, which would be unveiled by Finance Minister Nirmala Sitharaman on February 1
The Year 2020 has a lot of speculations regarding budget and financial changes in the country. All eye in on 1 February and Finance Minister, Nirmala Sitharaman for seeking relief on tax slabs for salaried including steps to overcome fiscal deficit along with the addition in the consumer demand.
As a measure to boost domestic small and medium industry, the government may consider a hike in customs duty on over 300 items like toys, furniture, footwear, coated paper, rubber items among other in the Union Budget.
Indian financial market will look for improved transparency in the Union Budget announcements next month, according to a report by Singapore banking group DBS. “Any reduction in the fiscal deficit could result in a negative credit impulse in the near-term, but will need to be balanced with a credible consolidation plan further-out,” according to the the bank’s research report “India Budget Preview: Loosening the purse” released on Thursday.
Prime Minister Narendra Modi has sought suggestions and ideas from people on the Union Budget which is likely to be presented on February 1.
The Cabinet Committee on Parliamentary Affairs has recommended holding the Budget Session in two phases from January 31 to April 3, with the Union Budget to be presented on February 1, sources said on Wednesday.
Union Budget for 2020-21 may be presented on 1 February and the Economic Survey is likely to be on January 31, Finance Ministry sources said.
In just 6 sessions since the Union Budget was proposed, FIIs offloaded Rs 2,937.53 crore worth of shares. Institutional investors play a dominant role in day-to-day market movement in India.
The key changes in Budget's taxation-related measures affecting the deal market include the extension of buy-back tax-related provision to listed entities.
The voting on the Finance Bill is also expected to be taken up on Wednesday afternoon and the ruling BJP issued a whip to its members to be present in the House.
All eyes were on Nirmala Sitharaman as she had a massive job at hand. She had to fill in the shoes of former Finance Minister Arun Jaitley as well as lay foundation that would help India achieve its goal of becoming a $ 5 trillion economy. Presenting Modi 2.0 government's first budget, Sitharaman laid huge emphasis on investment and consumption to realise the dream of 'New India'. Here is sector wise analysis of who got what in Modi Sarkar 2.0's first union budget.
"Strategic disinvestment of select CPSEs will continue to be a priority. Such disinvestment of Air India will be re-initiated. The disinvestment target for 2019-20 is Rs 1.05 lakh crore," said Finance Minister Nirmala Sitharaman, while presenting the Budget in the Lok Sabha on Friday.
It also sets the stage for fulfilling our collective dreams of water for every citizen, ensuring electricity connectivity across India and boosting manufacturing especially in sunrise sectors, Shah said, adding that the budget will enable India to become a more vibrant start-up hub.
He said the Budget underlines structural reforms in the agricultural sector and has a roadmap to transform the farm sector and doubling farmers' income.
While presenting interim Budget 2019-20 in February, the government had pegged fiscal deficit target at 3.4 per cent.
Presenting the first Budget of the Modi government in its second term, Sitharaman said surcharges on individuals having taxable income of Rs 2 crore to Rs 5 crore; and Rs 5 crore and more have been raised.
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