New Delhi: As the Union Ministry of Finance is getting ready to present the much-awaited Union Budget 2020 on February 1, Union Minister Prakash Javadekar o Wednesday said the Union Budget will have an action plan for the economic slowdown in the country Also Read - Union Budget 2020: Govt Likely to Restrict Purchase of Duty-free Liquor, Cigarettes

The statement from the Union Minister comes at a time when the IMF has slashed India’s growth forecast to 4.8 per cent for 2019. Also Read - Union Budget 2020: More Than 300 Items Likely to See Customs Duty Hike

As per updates, the Budget session of the Parliament will commence on January 31 and conclude on April 3. Finance Minister Nirmala Sitharaman will present her second Union Budget on February 1. Also Read - Union Budget 2020: Countries With Highest Income Tax Rate | Read List Here

Holding a press conference, Javadekar stated nobody should have a pessimistic view about the Indian economy. He said the country’s fundamentals are very strong.

Ahead of the budget session, Prime Minister Narendra Modi had last week met top economists of the country at NITI Aayog.

The ministers who attended the meeting with the PM include Home Minister Amit Shah, Railway Minister Piyush Goyal and Union Minister of Road Transport and Highways Nitin Gadkari.

Prior to this meeting, the PM had invited suggestions from the general public for the Union Budget 2020 on MyGov.

“The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India’s development. I invite you all to share your ideas and suggestions for this year’s Budget on MyGov,” he had said in a tweet.

As per updates, the first phase of the session will start from January 31 to February 11 and the second one will be held from March 2 to April 3.