Union Budget 2020: First Visuals Of FM Sitharaman With Budget 2020 Papers In 'Bahi-Khata'

Union Budget

Union Finance Minister Nirmala Sitharam leaves the Ministry of Finance with 'Bahi-Khata' ahead of the presentation of Union Budget 2020 in the Parliament

Written By Varsha Chavan | Mumbai | Updated On:

Union Finance Minister Nirmala Sitharam leaves the Ministry of Finance with 'Bahi-Khata' ahead of the presentation of Union Budget 2020 in the Parliament on Saturday. This is the second year where Sitharaman has ditched the traditional suitcase and carried the 'Bahi-Khata' or the red bag to carry the budget documentations. The Budget will be presented by Union Finance Minister Nirmala Sitharaman in the Parliament at 11 AM.

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Earlier today, Minister of State in Finance Anurag Thakur offered prayer at his residence ahead of Union Budget. He said while speaking to news agency ANI, "Modi govt believes in 'sabka sath, sabka vikas.' We received suggestions from across the country. The government is making efforts that this budget is good for all."

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Current Union Budget's challenges

Since then the Indian economy's growth has slumped to 4.5%, staring at a 45-year high on unemployment. While the key challenge the Finance Minister faces is kickstarting market demand, she also battles India's job crisis, diminishing FDI, growing inflation. In an attempt at course correction, the Modi government had announced the merger of nine PSU banks into four, major corporate tax cuts, policy changes in the automobile sector, reduction in tax regulations to boost foreign income, attract investors and increase the consumer demand during the past year.

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