Nirmala Sitharaman
budget speech and full budget impact on Markets and Indian economy.
The Union
Budget of India is a statement of the revenue and expenditure of
the government for a financial year.
It is referred to as the
Annual Financial Statement in Article 112 of the Indian Constitution.
The finance minister of the Union government presents it in the Lok
Sabha.
A full budget is not
presented by the government in an election year. It presents an
interim budget instead. The incoming government then presents the
full budget 2019 after being sworn-in.
The interim budget is
presented for a part of the fiscal year. The government can give the
account for the whole year and the next government can change the
estimates and expenditure plan when the budget
2019-20 is read after the government is sworn-in.
The Bharatiya Janata
Party-led National Democratic Alliance was elected for another term
in May, 2019. Prime Minister Narendra Modi allocated the finance
portfolio to Rajya Sabha MP Nirmala Sitharaman.
This is the first time in
India's history that a woman has been given the independent charge of
the finance ministry.
The budget 2019 will be
read by Nirmala Sitharaman on July 5 in Lok Sabha. The main focus
will be on macroeconomic numbers and promises made by the BJP in its
election manifesto. Job generation and growth are likely to be focus
areas for the new government. Agriculture, taxation and
infrastructure will be the sectors to watch out for in the budget.
Article Source BS
No comments:
Post a Comment