Newly appointed Finance Minister Nirmala Sitharaman has been crowd-sourcing ideas ahead of the Union Budget 2019-20 presentation. To make her first budget an inclusive one, she said that she has been reading suggestions made by scholars, economists and enthusiasts over print, electronic, and on social media and was thankful for their input.
In a tweet on Thursday, Sitharaman said, "Grateful for every thought/idea that's being shared by scholars, economists and enthusiasts through print, electronic, and on social media. I read many of them; also, my team carefully collates them for me. Value every bit. Thanks. Please keep them coming. #Budget2019"
Grateful for every thought/idea that’s being shared by scholars, economists and enthusiasts through print, electronic, and on social media. I read many of them; also, my team carefully collates them for me. Value every bit. Thanks. Please keep them coming. #Budget2019— Nirmala Sitharaman (@nsitharaman) 6 June 2019
Last week, addressing a press conference, Union Minister Prakash Javadekar said that the Economic Survey will be tabled on 4 July and the Union Budget FY 20 will be presented on 5 July. The 40-day Lok Sabha session from 17 June 17 to 26 July will have 30 sittings. The first two days of the session have been kept for oath taking by the newly elected members, he said.
The election for Lok Sabha Speaker will take place on 19 June, while President Ram Nath Kovind will address the joint sitting of Lok Sabha and Rajya Sabha on 20 June.
Nirmala, Sitharaman will present the Budget as the Finance Minister, the first woman after former Prime Minister Indira Gandhi to hold the position.
An interim budget for FY20 was presented by the Modi government in his previous term, on 1 February, by Piyush Goyal, who took over additional responsibilities of the Ministry of Finance, in the absence of Arun Jaitley.
The Modi government holds various economic challenges ahead of it, including job creation, delivering the promise of increasing farmer income and putting the growth of the world's fastest growing economy back on track. Data released by the National Statistics Office on 31 May showed that India's GDP (gross domestic product) expanded at 6.8 percent in FY19, slower than the 7.2 percent in FY18.