Budget 2020 date India timings: India Budget 2020 is here and you should not miss the Union Budget 2020 speech. Poeple of India are eagerly waiting for Union Budget 2020.
Union Budget Timings 2020: India Budget 2020 date and time have been announced by the Modi government. Union Finance Minister Nirmala Sitharaman will present Budget 2020 speech in the Parliament on February 1. With barely two days to go for India Budget 2020, the preparations for Budget Speech are in full swing at the Ministry of Finance and Government of India. In the run-up to Budget 2020 presentation, FM Sitharaman and Prime Minister Narendra Modi have held a series of meetings with ministry officials, industry bodies to ponder over issues that may be addressed in Budget 2020 for India. The Finance Ministry had also sought ideas, recommendations, and suggestions for Budget 2020-21 from all stakeholders, including the general public. With two days to go, people still have queries surrounding ‘When is budget’, ‘Budget 2020 India Date’, ‘Budget timings’, ‘Budget Session 2020’, and ‘Budget Speech’. Financial Express Digital is providing you all the details below:
Check the latest updates of Budget 2020
When is Budget 2020 in India?
Union Budget is an annual exercise. India Budget generally deals with the central government’s finances, its revenues and expenditures. The Union Budget presentation takes place once a year. However, in the year when Lok Sabha elections are due, two budgets are tabled in Parliament. One is an interim budget which is placed ahead of general elections and full-fledged budget which is placed after the Lok Sabha elections. For more details, read What is Union Budget?
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Budget 2020 date
Union Budget 2020 will be crucial for FM Sitharaman since a lot has been discussed over the state of the Indian economy in the last few months. Expectations are high from the Centre as people believe there will be income tax relief for the middle class. Union Budget 2020 will be presented on February 1, 2020.
You can check all Budget documents of this year and previous years on https://www.indiabudget.gov.in/
Budget 2020 Speech Time
This will be Finance Minister Nirmala Sitharaman’s second Union Budget. The India Budget 2020 speech will be delivered by her in the Parliament. FM Sitharaman will begin the India Budget 2020 speech at 11 AM on February 1.
Budget Session 2020
Budget session 2020 will be held in two phases. The first phase of the Union Budget 2020 session will be held from January 31 to February 11. Then there will be a short recess to discuss the Budget 2020 proposals made by FM Sitharaman. The second session will begin on March 2. The Budget 2020 session will culminate on April 3.
Budget Speech 2020
Till 2016, the Union Budget speech used to be delivered by the FM on the last working day of February. However, in 2016, Narendra Modi government decided to present the Union Budget on February 1 in order to provide more time for departments to decide on the expenditure part and spend accordingly.
In 2019, the Central government decided to table an interim Budget on February 1 ahead of the Lok Sabha elections 2019. The then Finance Minister Piyush Goyal presented the interim Union Budget speech. After winning the elections once again, Modi government presented the Union Budget 2019 in the Parliament on July 5.