Union Cabinet approves Budget 2020-21, Nirmala Sitharaman presents Budget in Parliament

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Facing the worst economic slowdown in more than a decade, Sitharaman is expected to pull out all stops to spur consumer demand and investment, government sources and economists said.

 

The Union Cabinet headed by Prime Minister Narendra Modi on Saturday approved the Budget for the financial year beginning April 1.

Before coming to Parliament for presenting her second budget, Finance Minister Nirmala Sitharaman and her team met President Ram Nath Kovind.

She was accompanied by Minister of State for Finance Anurag Thakur and top officials of her ministry including Finance Secretary Rajiv Kumar.

Like last year, Sitharaman opted for a traditional red-coloured 'bahi-khata' to carry budget documents.

Dressed in a crisp yellow silk saree, she posed for cameramen at the Parliament House gate with the budget documents wrapped in a red silk cloth, adorned with a golden Indian emblem.

Facing the worst economic slowdown in more than a decade, Sitharaman is expected to pull out all stops to spur consumer demand and investment, government sources and economists said.

Union Finance Minister Nirmala Sitharaman has started her speech.

Sitharaman today has a twin task to deliver -- reviving the economy that was already shaking when Covid-19 hit the country in early 2020 and tackle challenges thrown by the pandemic swiftly.

Further details are awaited.

 

With inputs from Agency

Image credit: Mint

 

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