Published 17:32 IST, January 30th 2020
PM Modi says 'government open to discussions on economy' ahead of Union Budget 2020
PM Modi on Thursday addressed an all-party meeting ahead of the budget session of the parliament and stated that the govt is open to discussions on the economy
Ahead of the upcoming Budget session in the parliament, that begins tomorrow, Prime Minister Narendra Modi addressed an all-party meeting called by Parliamentary Affairs Minister Pralhad Joshi at the parliament in New Delhi.
The current economic scenario remained a prime topic of discussion throughout the meeting. The Prime Minister in his statement said that the focus should be on how to turn the global scenario in favour of India.
"We should focus on how we can turn the global scenario in favour of India and in this budget session, and at the beginning of the New Year if we can give a proper direction to the country’s economy, it would be in the best interest of the country," PM Modi said.
Adding to his statement further, PM Modi also stated that his government is open to holding discussions for all issues during the budget session.
'We need to discuss the economic issues'- PM Modi
Referring to the recommendations by all the parties, Prime Minister Narendra Modi informed that the government will discuss the economic issues. Issuing a statement over discussions on the economy, PM Modi said, "Most of the members have asked for a discussion on the economic situation concerning the country. I welcome this and we need to discuss the economic issues as suggested by you all."
Union Budget 2020
The Government of India is set to present the Union Budget 2020 in the upcoming Parliamentary session. With the budget right around the corner, all eyes are now on the Finance Minister Nirmala Sitharaman. There are a lot of expectations from Sitharaman due to the overall GDP growth of India being at an 11-year low at 5%. Many experts believe that there will be a few tax reforms as well as GST rate cuts. Plans to implement affordable housing plans may also be a part of the Union Budget 2020.
The final Union Budget 2020 will be presented in the Parliament on February 1, 2020. The budget will be shared by the Finance Minister Nirmala Sitharaman at 11 AM. The economic survey of the country will be released on January 31, 2020.
The budget session will be held in two phases. The first will be in the upcoming Parliament session, which will go on from January 31, 2020, to February 11, 2020. The second phase will go on from March 2, 2020, to April 3, 2020. According to reports, there will be a 19-day recess so that the standing committees may prepare their reports and reconsider grants.
Updated 17:32 IST, January 30th 2020