The Union Budget 2020-21 will be presented on 1 February. This will be the first full-year budget of the Bharatiya Janata Party led National Democratic Alliance (NDA) government after returning to power in 2019.
The Bombay Stock Exchange will remain open on the day which is a Saturday. “BSE will remain open on February 1 for trading despite it being a holiday and non-working day,” BSE MD and CEO Ashish Chauhan told a business news channel.
Departing from the colonial-era tradition of presenting the Union Budget on the last working day of February, the Narendra Modi government in 2017 announced that it would present it on 1 February.
Following this, the Union Budget for 2017-18 was presented on 1 February, and since then the tradition has continued.
According to the government, the idea behind starting the Budget early in February was to complete the budgetary process by 31 March, so that expenditure exercise for 12 months could begin on 1 April itself.
Finance Ministry sources had earlier indicated that the Economic Survey is likely to be presented on January 31 and the Union Budget on 1 February.
PM seeks suggestions on Budget
A day after the modest 5 percent growth estimates by the government, Prime Minister Narendra Modi on Wednesday (8 January) sought to engage with the people directly on their demands, aspirations and wishes from the Union Budget in reaching towards developmental growth, according to an IANS report.
He also tagged the Finance Ministry — “FinMinIndia looks forward to your suggestions for the #UnionBudget2020 which will be presented in the Parliament in the upcoming session,” he said.
Share your valuable ideas in the field of #Farmers, #Education & others on https://www.mygov.in/group-issue/inviting-ideas-and-suggestions-union-budget-2020-2021/ a @nsitharaman @nsitharamanoffc @ianuragthakur.
Finance Minister Nirmala Sitharaman had already asked for public views on the budget earlier.