Budget2020 LIVE updates: Finance Minister Nirmala Sitharaman will present her second Union Budget in Parliament at 11 am today. The Budget speech will be keenly watched on both sides of the aisle in Parliament, and also by investors, both domestic and foreign, besides various interest groups like farmers and the anxious middle class.
Budget 2020 comes at a time when India is staring at an estimated 5 per cent annual rate of expansion, the slowest pace since 2009.
The economy has lately been impacted by slowing trade, rising protectionism, and concerns over a high level of unemployment. The recent sluggishness in the economy has led to expectations that the Budget would contain further stimulus measures to boost growth through new policy initiatives and continued reforms to achieve accelerated growth and employment generation.
On Friday, the government tabled the Economic Survey 2019-20, which projected the country's GDP growth for 2020-21 at 6-6.5 per cent.
Stay tuned for Budget 2020 live updates.
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10:10 AM
Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at Parliament
ANI
✔
@ANI
#WATCH Delhi: Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament, to attend Cabinet meeting; Presentation of Union Budget 2020-21 at 11 am
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10:09 AM - Feb 1, 2020
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10:10 AM
Never seen a liquidity crisis this bad, says Hiranandani Group CMD
"I've never seen a liquidity crisis as bad as it is today. No matter how good the budget is if the oil in the mechanism of the economy is not working, the economy can't move. If the oil comes back and we get boost of budget then we will see recovery," N Hiranandani, CMD, Hiranandani Group told news agency ANI.
10:10 AM
Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at Parliament
ANI
✔
@ANI
#WATCH Delhi: Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament, to attend Cabinet meeting; Presentation of Union Budget 2020-21 at 11 am
Embedded video
123
10:09 AM - Feb 1, 2020
Twitter Ads info and privacy
32 people are talking about this
10:04 AM
Economic Survey: 'Counter-cyclical fiscal policy' to boost demand justified
The Economic Survey for 2019-20, presented to Parliament on Friday, laid out an agenda for wealth creation in India and sought to ground pro-wealth and pro-business economic policies in India’s economic experience and philosophical traditions. In the Survey’s preface, Chief Economic Advisor K V Subramanian revealed the Survey’s motivation: Prime Minister Narendra Modi’s speech on Independence Day 2019, which highlighted the contributions of wealth creators and that “only when wealth is created will wealth be distributed”. Subramanian argues that liberalisation is a return to India’s “roots” as a market economy, and thus advocates various wealth-boosting reforms in the Survey.
From the macro-economic point of view, the Survey argues that since “the government, with a strong mandate, has the capacity to deliver expeditiously on reforms”, the upside risks to the economy dominate the downside risks. Given the base effect, it thus pegs growth in India’s gross domestic product or GDP in 2020-21 as being in the range of 6 to 6.5 per cent. The Survey admits that meeting the $5 trillion target set by the prime minister will be challenging, given the growth slowdown.
Read on...
10:03 AM
State of the economy under Modi-1 was actually worse than what we believed so far, says Chidambaram
Congress leader P Chidambaram on Friday said the state of the economy during Prime Minister Narendra Modi's first tenure was worse than what was believed as growth rates for 2017-18 and 2018-19 have been revised downwards. He asked if the ministers will explain it. "GDP growth rates for 2017-18 and 2018-19 have been revised DOWNWARDS. The state of the economy under MODI-1 was actually worse than what we believed so far.
P. Chidambaram
✔
@PChidambaram_IN
GDP growth rates for 2017-18 and 2018-19 have been revised DOWNWARDS. The state of the economy under MODI-1 was actually worse than what we believed so far.
3,122
6:14 PM - Jan 31, 2020
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912 people are talking about this
P. Chidambaram
✔
@PChidambaram_IN
· 16h
GDP growth rates for 2017-18 and 2018-19 have been revised DOWNWARDS. The state of the economy under MODI-1 was actually worse than what we believed so far.
P. Chidambaram
✔
@PChidambaram_IN
Will the articulate and voluble Ministers please speak on the state of the economy and explain the downward revision in the last two years and the drastic slide in the current fiscal year?
841
6:14 PM - Jan 31, 2020
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288 people are talking about this
09:59 AM
IIP growth turned positive but remained low at 1.8 per cent in November 2019 after contracting by (-) 4 per cent in October 2019. CPI-based inflation increased to a 65-month high of 7.4 per cent in December 2019, its fifth sequential rise, mainly due to persistently rising vegetable prices.
09:59 AM
Amid slowdown, Budget 2020 to be Sitharaman's balancing act
In Union Budget 2020, Sitharaman will have to do a balancing between efforts to boost growth and the need for fiscal restraint. Economists expect a slight policy tilt towards prioritising growth. Real GDP growth is estimated to fall to an 11-year low of 5 per cent in FY20 from 6.1 per cent in FY19. Estimated nominal growth at 7.5 per cent in FY20 is the lowest since 1975-76 (FY76) as per the FY12-based GDP series.
09:58 AM
Why markets remain open on Budget days
According to notifications by exchanges, trading will take place from 9.15 am to 3.30 pm on the Budget day. Pre-opening will be between 9.00 and 9.08 am. The decision was made after traders requested exchanges to keep trading hours so that quick buys based on Budget initiatives could be made.
Notably, the last time the market was open for trading on a Saturday was when former finance minister, the late Arun Jaitley presented the Budget on February 28, 2015.
09:57 AM
Cabinet meets at 10.15 am ahead of Budget presentation
The Union Cabinet meeting will be held at 10.15 am. Sitharaman will present the Budget in Parliament at 11 am today. The duration of the Budget speech usually ranges from 90 to 120 minutes.
09:53 AM
FM calls on President Kovind at Rashtrapati Bhavan
President of India
✔
@rashtrapatibhvn
As per tradition, Finance Minister @nsitharaman calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget.
View image on TwitterView image on Twitter
1,804
9:44 AM - Feb 1, 2020
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287 people are talking about this
09:50 AM
Nirmala Sitharaman meets President Kovind before Budget 2020 presentation
Finance Minister Nirmala Sitharaman calls on President Ram Nath Kovind before presenting the Union Budget 2020-21.
Budget 2020 comes at a time when India is staring at an estimated 5 per cent annual rate of expansion, the slowest pace since 2009.
The economy has lately been impacted by slowing trade, rising protectionism, and concerns over a high level of unemployment. The recent sluggishness in the economy has led to expectations that the Budget would contain further stimulus measures to boost growth through new policy initiatives and continued reforms to achieve accelerated growth and employment generation.
On Friday, the government tabled the Economic Survey 2019-20, which projected the country's GDP growth for 2020-21 at 6-6.5 per cent.
Stay tuned for Budget 2020 live updates.
CATCH ALL THE LIVE UPDATES
Auto Refresh
10:10 AM
Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at Parliament
ANI
✔
@ANI
#WATCH Delhi: Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament, to attend Cabinet meeting; Presentation of Union Budget 2020-21 at 11 am
Embedded video
125
10:09 AM - Feb 1, 2020
Twitter Ads info and privacy
32 people are talking about this
10:10 AM
Never seen a liquidity crisis this bad, says Hiranandani Group CMD
"I've never seen a liquidity crisis as bad as it is today. No matter how good the budget is if the oil in the mechanism of the economy is not working, the economy can't move. If the oil comes back and we get boost of budget then we will see recovery," N Hiranandani, CMD, Hiranandani Group told news agency ANI.
10:10 AM
Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at Parliament
ANI
✔
@ANI
#WATCH Delhi: Finance Minister Nirmala Sitharaman and MoS Finance Anurag Thakur arrive at the Parliament, to attend Cabinet meeting; Presentation of Union Budget 2020-21 at 11 am
Embedded video
123
10:09 AM - Feb 1, 2020
Twitter Ads info and privacy
32 people are talking about this
10:04 AM
Economic Survey: 'Counter-cyclical fiscal policy' to boost demand justified
The Economic Survey for 2019-20, presented to Parliament on Friday, laid out an agenda for wealth creation in India and sought to ground pro-wealth and pro-business economic policies in India’s economic experience and philosophical traditions. In the Survey’s preface, Chief Economic Advisor K V Subramanian revealed the Survey’s motivation: Prime Minister Narendra Modi’s speech on Independence Day 2019, which highlighted the contributions of wealth creators and that “only when wealth is created will wealth be distributed”. Subramanian argues that liberalisation is a return to India’s “roots” as a market economy, and thus advocates various wealth-boosting reforms in the Survey.
From the macro-economic point of view, the Survey argues that since “the government, with a strong mandate, has the capacity to deliver expeditiously on reforms”, the upside risks to the economy dominate the downside risks. Given the base effect, it thus pegs growth in India’s gross domestic product or GDP in 2020-21 as being in the range of 6 to 6.5 per cent. The Survey admits that meeting the $5 trillion target set by the prime minister will be challenging, given the growth slowdown.
Read on...
10:03 AM
State of the economy under Modi-1 was actually worse than what we believed so far, says Chidambaram
Congress leader P Chidambaram on Friday said the state of the economy during Prime Minister Narendra Modi's first tenure was worse than what was believed as growth rates for 2017-18 and 2018-19 have been revised downwards. He asked if the ministers will explain it. "GDP growth rates for 2017-18 and 2018-19 have been revised DOWNWARDS. The state of the economy under MODI-1 was actually worse than what we believed so far.
P. Chidambaram
✔
@PChidambaram_IN
GDP growth rates for 2017-18 and 2018-19 have been revised DOWNWARDS. The state of the economy under MODI-1 was actually worse than what we believed so far.
3,122
6:14 PM - Jan 31, 2020
Twitter Ads info and privacy
912 people are talking about this
P. Chidambaram
✔
@PChidambaram_IN
· 16h
GDP growth rates for 2017-18 and 2018-19 have been revised DOWNWARDS. The state of the economy under MODI-1 was actually worse than what we believed so far.
P. Chidambaram
✔
@PChidambaram_IN
Will the articulate and voluble Ministers please speak on the state of the economy and explain the downward revision in the last two years and the drastic slide in the current fiscal year?
841
6:14 PM - Jan 31, 2020
Twitter Ads info and privacy
288 people are talking about this
09:59 AM
IIP growth turned positive but remained low at 1.8 per cent in November 2019 after contracting by (-) 4 per cent in October 2019. CPI-based inflation increased to a 65-month high of 7.4 per cent in December 2019, its fifth sequential rise, mainly due to persistently rising vegetable prices.
09:59 AM
Amid slowdown, Budget 2020 to be Sitharaman's balancing act
In Union Budget 2020, Sitharaman will have to do a balancing between efforts to boost growth and the need for fiscal restraint. Economists expect a slight policy tilt towards prioritising growth. Real GDP growth is estimated to fall to an 11-year low of 5 per cent in FY20 from 6.1 per cent in FY19. Estimated nominal growth at 7.5 per cent in FY20 is the lowest since 1975-76 (FY76) as per the FY12-based GDP series.
09:58 AM
Why markets remain open on Budget days
According to notifications by exchanges, trading will take place from 9.15 am to 3.30 pm on the Budget day. Pre-opening will be between 9.00 and 9.08 am. The decision was made after traders requested exchanges to keep trading hours so that quick buys based on Budget initiatives could be made.
Notably, the last time the market was open for trading on a Saturday was when former finance minister, the late Arun Jaitley presented the Budget on February 28, 2015.
09:57 AM
Cabinet meets at 10.15 am ahead of Budget presentation
The Union Cabinet meeting will be held at 10.15 am. Sitharaman will present the Budget in Parliament at 11 am today. The duration of the Budget speech usually ranges from 90 to 120 minutes.
09:53 AM
FM calls on President Kovind at Rashtrapati Bhavan
President of India
✔
@rashtrapatibhvn
As per tradition, Finance Minister @nsitharaman calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget.
View image on TwitterView image on Twitter
1,804
9:44 AM - Feb 1, 2020
Twitter Ads info and privacy
287 people are talking about this
09:50 AM
Nirmala Sitharaman meets President Kovind before Budget 2020 presentation
Finance Minister Nirmala Sitharaman calls on President Ram Nath Kovind before presenting the Union Budget 2020-21.
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