Even as there remain high hopes of an income tax slab rejig and further exemption, the second budget shall be highly challenging for Finance Minister Nirmala Sitharaman who needs to create fine balance between maintaining fiscal prudence while also leaving more funds in the hands of masses who could invest and spend and spur consumption.
The stock markets have already discounted in favourable measures such as LTCG tax withdrawal as well as overhaul in the holding period to up to 2 years.
Budget 2020: Date and time
The budget session will begin with the speech of President Kovind at 11 am who will be addressing the joint session of both the houses. Thereafter the CEA Subramanian will present the Economic Survey in the Rajya Sabha on the same day.
Then on February 1, which happens to be a Saturday this time, FM Nirmala Sitharaman will be tabling the Union Budget at 11 am. Since 2017, the budget has been advanced by a month's time which earlier used to be presented on the last working day of February. This was such that all the budgetary work is completed by the end of the financial year.
Further, stock exchanges that usually are closed on both the days of the weekend shall continue to operate. Nonetheless, on the banking services shall be hit as unions have threatened to go on a two-day strike from January 31.