Indian Finance minister Nirmala Sitharaman will present the first Union Budget of the Modi government on July 5, 2019.
Ahead of Budget 2019, Sensex back at 40,000 for the first time since June 11.
Finance Minister Nirmala Sitharaman has handed over a copy of the Union Budget to the President.
She has arrived at the North Block which houses the Ministry of Finance. Indian stock market investors are watching out for the Union Budget on Friday
Later she will move The Finance (No.2) Bill, 2019. The Lower House is expected to be adjourned till Monday (July 8) after these proceedings conclude.
Her maiden budget speech is expected to begin at around 11:00 am. Usually the duration of the presentation ranges from 90 to 120 minutes.
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The Niti Aayog headed by the Prime Minister, last year released ‘Strategy for New India@75’ which said, “In agriculture, emphasis must shift to converting farmers to ‘agripreneurs’ by further expanding e-National Agriculture Markets (e-NAMs) and replacing the Agricultural Produce Marketing Committee (APMC) Act with the Agricultural Produce and Livestock Marketing (APLM) Act.
” The creation of a unified national market, a freer export regime, and the abolition of the Essential Commodities Act are essential for boosting agricultural growth.”
Economy slowdown:
With the slowdown in the economy, this Budget becomes all the more important.
During Lok Sabha elections, BJP made some huge promises which they have to fulfill and it is expected that the budget will focus on lowering farmers distress and creating employment for the nation.
Tax exemption
Exemption in tax for the middle is also expected to rise so that consumption is increased in the household.
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