PM invites ideas for Union Budget 2020, says 'it represents aspiration of 130 cr Indians'

Prime Minister Narendra Modi on Wednesday asked people to drop in their suggestion for the next fiscal budget, which will be presented by Finance Minister Nirmala Sitharaman in February. The budget this year comes at the backdrop of the economic slowdown which has had its effect employment and manufacturing.

Retweeting the Citizen engagement platform of Government of India's post, PM Modi stated that the budget represents the aspirations of Indians and further invited people to share their ideas. 

Stating that the Finance Ministry of India is open to suggestions for the budget, Citizen engagement platform of Government asked for ideas in the field of farmers, education, and others.

Last week, Nirmala Sitharaman also unveiled a plan to invest Rs 102 lakh crore in infrastructure over the next five years in a bid to make India a $5 trillion economy by 2025. 

Earlier on December 31, Sitharaman had announced that the investment task force has identified infrastructure projects worth Rs 102 lakh crore for the next 5 years, at the year-ending Finance Ministry press briefing.

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CII predicts Economy rise in 2020

Previously, the Confederation of Indian Industry (CII) predicted that the economy would recover and overcome its slowdown in 2020. The CII president Vikram Kirloskar that there would be a subdued GDP in the third quarter as well and maintained that the economy would bounce back in the period thereafter.

This development came a few days after the Centre for Economics and Business Research (CEBR), a UK based think tank stated that India would achieve the goal of $5 trillion economies by the year 2026.

Earlier in November 29, 2019, India's second-quarter GDP (July-September) numbers stood at 4.5% - the slowest growth in almost seven years. The previous quarter (April-June) GDP numbers were at 5% and the Q2 (2018-2019) stood at 7%.

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