Union Budget 2020: Union Finance Minister Nirmala Sitharaman is all set to present the Budget 2020 on February 1, 2020. The date was announced during the Union Cabinet media briefing on Thursday. Nirmala Sitharaman will begin the Union Budget 2020 speech at 11 am on February 1 in the Parliament.
The news agency ANI reported that the budget session of the Parliament will begin from January 31 and will conclude on April 3. The first phase of the session will be held from January 31 to February 11 while the second session from March 2 to April 3.
Union Finance Minister Nirmala Sitharaman has been conducting meetings with stakeholders to discuss issues related to Union Budget 2020. In an annual exercise, the Budget usually showcases the central government’s finances, revenues and expenditures.
Union Budget 2020 is going to be more crucial for the PM Narendra Modi-led government while a lot of things have been discussed about the state of the Indian economy. Meanwhile, the expectations are high from the Centre as the citizens believe that there will be some income tax relief for the middle class.
Till 2016, the Union Budget used to be presented on the last working day of February, while in 2016, the Government decided to present the Budget on February 1. It was initiated to provide more time for the departments to decide on the expenditure part.