Union Budget 2020: Ashok Gehlot hopes for 'concrete measures to revive economy'

Hours before the Union Budget 2020 is presented in the Parliament, Chief Minister of Rajasthan Ashok Gehlot has expressed his view on what aspects should be the focus in the budget. Taking to Twitter, the Rajasthan CM said that the entire nation is looking at the central government for some concrete steps to revive the economy.

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In another tweet, Gehlot mentioned the demonetization alleging that it brought hardships to the people.

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IMF chief expresses confidence

A day ahead of the Union Budget 2020, Internation Monetary Fund (IMF) Managing Director Kristalina Georgieva said that India has experienced an abrupt slowdown in 2019 due to major reforms such as GST and demonetisation however the economy is not in a recession and is expected to set on an upward trajectory in 2020 and 2021. The IMF Chief also added that the reforms such as GST and Demonetisation had a short term impact on the economy but would prove beneficial for the country in the long run.

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Union Budget 2020

The government will present the Union Budget 2020-2021 on Saturday, February 1. The first phase of the session will conclude on February 11, while the second part of the session will begin from March 2 and end on April 3. The budget session started on January 31 with the government presenting the economic survey which gave an overview of how the economy fared in 2019. The Indian economy gained a lead ahead of the UK and France to gain the fifth position in terms of GDP. According to the economic survey 2020, the Indian economy managed to sustain the global slowdown, faring better than the BRICS nations such as Brazil, Russia, South Africa and is on par with China.

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