The newly appointed Minister of Finance and Corporate Affairs, Nirmala Sitharaman, took to Twitter to express her gratitude towards the scholars, economists and the public who had reached out to her with suggestions and ideas with an intention to guide her in the framing of the Union Budget slated to be released on July 5.
The Parliament session for the budget - the first since the Modi government was sworn-in again - will be held from June 17, 2019 to June 26, 2019, with the Annual Economic Survey being tabled one day before the Budget.
Even as preparations for the budget are likely to get underway, the Finance Minister is all set to attend the two-day meeting of G-20 Finance Ministers and central bank Governors in Japan beginning from June 8. It will be her first official visit since taking over the reins of the twin ministries from Arun Jaitley. Among things like increasing protectionism, the meeting over the weekend is likely to focus on risks and challenges being faced by the global economy, investment in infrastructure and international taxation.
Additionally, on Thursday, RBI Governor Shaktikanta Das announced in the bank's bi-monthly policy review that the Monetary Policy Committee (MPC) had unanimously approved the third repo rate-cut in as many reviews with the benchmark rate now at 5.75%. Just as significantly, the RBI has changed its monetary stance to 'accommodative' from 'neutral'.
Nirmala Sitharaman has also been appointed to a number of key Cabinet committees.
Hailed as a ‘gamechanger’ by industry leader Anand Mahindra among others, Nirmala Sitharaman has broken yet another glass ceiling with her latest appointment, becoming the first woman to independently hold the finance portfolio, just as she had earlier become the first woman to hold the defence portfolio in her earlier charge.