The Budget, 2020, is to be presented on February 1, by the Modi Government or the NDA government by the Finance Minister. Ms. Nirmala Seetharaman .
It is of greater significance as the Finance minister is presenting it for the second time. A greater significance is assumed as the Indian economy has slowed down.
According to sources, the total amount to be presented in this budget is around Rs. 42,92,000 crores with total expenditure of the same amount to achieve a GDP of 235 lakh crores in year 2020-21.
The government has the greatest challenge to boost growth in the course of unyielding economic conditions. A continued focus on infrastructure and rural development is expected in the upcoming budget.
The people of India have great expectations from ‘Budget 2020’:
Budget 2020-21 is expected to show enthusiasm in all the sectors where the revenue is heavily invested. It is also expected to give boost to make in India and also protect the Indian Industry, the Finance Minister should rationalize import and export duties.
Direct and indirect taxes would be collected sufficiently because of all the govenmnet policies like GST, Digitalization and structured taxes. In this phase where there is global slowdown the policies taken up by the government would assuredly bring in massive foreign exchange so that the economy which was running in deficit would help in meeting the challenges of our country in the present situation.
A relief is expected in personal taxation by raising the minimum exemption limit by Rs. 1 to 1.5 lakh, and introducing some changes in tax slabs. The farming sector or the farmers may likely expect to get something scheme to double their income in next few years. The industries can be revived by the investment policies of the government and enhance the industrial growth rate which in turn would raise employment and economy too.
Enhanced industrial production and good agricultural production is expected to help contain inflation to a reasonable level. The metro projects and the Railways should also be taken care of to help the growth of the economy. All these factors would pave way for a higher level of economy by 2015. Hope this budget would focus on social justice and take care of the poor and needy.
