Union Budget 2019 | SCOOP: Modi government aims for 8% growth; Fiscal stimulus, labour reforms, massive infra push and more in store in Nirmala Sitharaman's maiden budget

Finance Minister Nirmala Sitharaman will be presenting maiden Union Budget of Modi 2.0 government on Friday, in which she is likely to kickstart implementation of  blueprint to achieve PM Modi's goal of turning India into a $5 trillion ecomy. 

This will be 89th Union budget, which is financial statement of government, detailing its revenue and expenditure in past, as well as estimated spending and projections for coming year.

While expectations of common man with Union Budget high, Republic Media Network sources have accessed details of what may be anunced in Finance Minister's speech. 

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Here's what we can expect from Nirmala Sitharaman's maiden Budget speech: 

• government may opt for a fiscal stimulus to kickstart ecomy, taking into account that it may entail some degree of fiscal slipp.
• labour reforms on nda might introduce a sunset clause on labour size for MSME sector. Finance Minister might move towards incentivising larger companies and discouraging labour unions amid at increasing productivity of labour and capital. 
• Growth to be pegged at 8% of GDP over next five years.
• PM-KISAN to be driver of rural growth
• Massive infrastructure push in store
• Up to Rs 10,000 crores likely for newly established Jal Shakti Ministry.
• Increased National Rural Employment Guarantee Act 2005 (MNREGA) allocation for Water Conservation projects in Panchayats.
• Measures to increase lending to Private Sector
• SOPs to middle class, increased tax incentives for NPS, more measures to increase savings, might tinker with tax exemptions, tax (EET) nature of certain investments and savings schemes, likelihood of changes in home loan interest and principal exemption limits as also a super-rich tax. 
• On corporate side, Finance Minister might anunce furr tapering of corporate tax and grandfaring of certain tax incentives, plus use of IBC for furr cleansing of system
• Finance Minister might make extra provisions for increasing Judicial Officers across country aimed at clearing backlog in courts that will affect overall governance efficiency. 

Article 112 of Indian Constitution defines Union Budget as annual financial statement of estimated receipts and expenditure of government for that particular year. Budget accounts finances of government for fiscal year which starts from April 1 and ends on March 31 next year. It is most detailed report on financial plan of country, focusing on expenditure and revenue to be me by government during fiscal year. 

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budget determines how money will be handled by government. In a nutshell, it is a statement of income and expenditure of government. 

Union Budget is expected to boost spending at cost of short-term slipp in fiscal deficit targets as Finance Minister Nirmala Sitharaman lays down Modi 2.0 government's ro map for ecomy and nation in next five years, with boosting investments, particularly private investment, and giving an impetus to manufacturing being prime focus. re are high expectations over relief to common man with rise in personal income tax threshold for certain categories while at same time, upping spending on agriculture, healthcare and social sectors. Also, re is expected to be a big push for infrastructure spending including on ros and railways to drive growth which h slowed to a five-year low of 5.8 per cent in first three months of 2019.