Budget 2020 Live: Finance Minister Nirmala Sitharaman Begins Her Budget Speech

Budget 2020 Live: Finance Minister Nirmala Sitharaman Begins Her Budget Speech 

Budget 2020 | Government Debt Cut To 48.7% Of GDP In March 2019: FM

The central government’s debt in March 2019 to 48.7 percent of GDP from 52.2 percent in March 2014.

  • Got FDI Of $284 Billion In 2014 To 2019
  • Economic Development To Involve Yielding More Space For Private Sector
11:16 AM

FM Lists Out Three Theme Of Budget 2020

Sitharaman lays out three prominent themes of this year’s budget:

  • Aspirational India
  • Caring Society
  • Economic Development
11:08 AM

FM Says GST Has Been The Most Historic Move In The Country

Sitharaman paid homage to Former Finance Minister Arun Jaitley who she called the chief architect of Goods and Services Tax.

The tax reform, she said, has been the most historic move in the country. The effective tax incidence on almost every commodity reduced, the FM said adding, “the dreaded inspector raj vanished because of GST.”

Besides, she said GST has consolidated numerous taxes and cesses.

GST Has Been Gradually Maturing In India

Finance Minister Nirmala Sitharaman

Key Highlights From GST

  • GST Amounts To 10% Reduction In Tax Incidence
  • Average Household Saves 4% Annually Due To Reduced GST Rate
  • Simplified GST Returns System Will Be Implemented From April 1
  • GST Council Has Been Proactive In Resolving Issues
11:01 AM

Finance Minister Nirmala Sitharaman Begins Her Budget Speech

Finance Minister Nirmala Sitharaman rises to present Union Budget for 2020-21. She begins her speech saying the budget is aimed at boosting income and enhancing purchasing power. She said the budget aims to give aspiration and address the hopes of the citizens of the country.

This is the budget to boost their income and enhance their purchasing power. Only through higher growth can we achieve that and have our youth gainfully and meaningfully employed. Let our businesses be innovative, healthy and solvent with use of technology.

Finance Minister Nirmala Sitharaman