The Union Budget 2020 will be presented in the Parliament by Finance Minister Nirmala Sitharaman in a couple of hours. The budget, in particular, is anticipated to be an ambitious one as the country faces economic slowdown. From income tax slabs to job crisis, the Budget 2020 is going to be crucial as Modi government has little choice but to push quick and bolder reforms needed to boost consumption and revive growth.
Follow the updates from Budget rituals to expectations from the Union Budget 2020 and stream it live on Business Today.In. You can watch it online on Business Today, Aaj Tak and India Today website. You can also watch the live coverage on Aaj Tak and India Today TV.
FULL COVERAGE:Union Budget 2020
Speculation is rife that the Finance Minister will restructure personal income tax rates to encourage the middle class to spend more in its bid to boost consumption. Industry bodies have demanded that income up to Rs 5 lakh should be exempt from tax from the current Rs 2.5 lakh to spur demand for goods and services. The FM may also announce measures to entice farmers.
The biggest challenge for the government will be to enhance consumer demand and improve investor confidence to ensure faster flow of credit to the economy. It would be interesting to see how the Modi government tackles expectations from the masses and handles the pressure of the economy.