The General Budget 2019-20 will be presented tomorrow. Finance Minister Nirmala Sitharaman will present the Budget in the Lok Sabha at 11 AM.
This will be the first Budget of the Narendra Modi government in the second tenure. It will also be Ms Sitharaman's maiden Budget.
A day before the Union Budget is presented, Nirmala Sitharaman this morning tabled the Economic Survey 2018-19, prepared by Chief Economic Adviser Krishnamurthy Subramanian, in the Parliament. The Economic Survey projects the state of health of the Indian economy and outlines the challenges.
The Indian economy is at a 5-year low of 6.8% in 2018-19 and the fourth quarter growth has slumped to 5.8% which is a 17-quarter low. The Economic Survey argues for an ambitious agenda for social change, treating humans as humans, relying on the lessons offered by behavioural economics.
“The theme of the survey – ‘Shifting Gears’ – is intended to achieve a sustained growth rate of 8 per cent. Using the learning from the Global Financial Crisis, the Survey departs from traditional thinking to view the economy in either a vicious or a virtuous cycle,” said Sitharaman.