Union Budget 2020: Finance minister Nirmala Sitharaman is back with ‘bahi-khata’ ( a kind of a ledger wrapped in a red coloured cloth) to present first Budget of Modi 2.0 government. Notably, Sitharaman had used bahi-khata (ledger) for her maiden budget presentation. On the day of the Union Budget presentation in 2019, Sitharaman had ditched the briefcase and opted for traditional bahi khata. Also Read - Union Budget 2020: Railway Budget's Merger With General Budget | How, Why And When

The Union Budget comes at a time when the GDP rate has slowed to 4.5 per cent — the weakest pace since 2013.  So, in her Budget speech scheduled at 11 AM, Sitharaman is expected to announce bold reforms (Union Budget 2020 Full Coverage) that could curb the slowdown. The duration of budget speech usually ranges from 90 to 120 minutes. Also Read - Union Budget 2020: Anurag Thakur Shares Cover of a Rare Book | See Post

Meanwhile, speculations are rife that the Narendra Modi-led government may revamp income tax slabs in the Budget 2020. Besides, various sectors such as e-commerce, health, agriculture, education, Information Technology (IT), and manufacturing among others expect major policy initiatives which will drive growth and support development and expansion. Also Read - Union Budget 2020: All Eyes on Nirmala Sitharaman's Second Budget Amid Slowdown | 5 Things to Expect

In the interim Budget in February 2019, there was some relief given to taxpayers but it primarily benefited only those whose income was below Rs 5 lakh. It was announced that there will be no tax liability if the net taxable income does not exceed Rs 5 lakh.

Live Updates

  • 7:01 PM IST

    Union Budget 2020: From 5 years Modi Ji is presenting the budget and in 5 years they have taken economy at a level where GDP is decreasing and unemployment is increasing. Every year they praise themselves and through media. There was a need to make incentive better and increase consumption, hits out Madhya Pradesh Chief Minister Kamal Nath.

  • 6:36 PM IST

    Union Budget 2020: Soon after Union Finance Minister Nirmala Sitharaman finished presenting her Union Budget 2020 with 2.5-hour-long speech, former Prime Minister Manmohan Singh on Saturday said that the Budget 2020 was ‘too long’ for him to understand anything clearly… Read full story

  • 5:38 PM IST

    Union Budget 2020: Union Minister defends the Budget and slams Congress leader Rahul Gandhi. He says, “A person who is hollow himself, will find everything hollow. I request Rahul Gandhi to educate himself, stay in the country, learn about it and have a positive mindset. Then he will be able to contribute to the country as opposition.”

  • 5:37 PM IST

    Union Budget 2020: I believe this budget will increase income & investment, it will increase demand & consumption, it will bring new energy into the financial system & credit flow. This budget will fulfill the country’s current needs & also the expectations from this decade, PM Modi said.

  • 5:17 PM IST

    Union Budget 2020: PM Modi asserts that this year’s budget has “further strengthened govt’s commitment of minimum government, maximum governance.”

  • 5:13 PM IST

    Union Budget 2020: The goal to develop 100 airports in the country is very important for the tourism sector of the country. In tourism, there is more possibility of employment/income generation with lesser investment, the Prime Minister says.

  • 5:10 PM IST

    Union Budget 2020: The main areas of employment are agriculture, infrastructure, textiles and technology. In order to increase employment generation, these four have been given a lot of emphasis in this budget, says PM Modi.

  • 5:10 PM IST

    Union Budget 2020: PM Modi congratulates Finance Minister Nirmala Sitharaman and her team for presenting the first Budget of the decade, says it has “has vision as well as action”.

  • 4:48 PM IST

    Union Budget 2020: Piyush Goyal Speaks on Stock Market’s Response

    There are some specific sectors in the stock market that carry a lot of weightage, for example, we have increased tax on cigarettes, so ITC’s stocks have weakened a bit. Maybe because there isn’t yet clarity on exemptions, (stocks of) some banks & insurance companies have weakened. I think the market will become fine after getting through the fine prints of budget & seeing how it’s encouraging domestic industry.
  • 4:37 PM IST

    Union Budget 2020: The government has given up on reviving the economy or accelerating growth rate or creating jobs. The budget is a laundry list of old programmes; even most loyal BJP supporter cannot latch on to any idea in the Budget speech, says Chidambaram.