As usual Union budget will be presented on Feb 1, 2020. Narendra Singh Tomar, minister of parliamentary affairs made this announcement on Wednesday. Despite of being Saturday, Stock market will remain open of 1st Feb. Generally, exchange remains closed in Saturdays and sundays but It can be opened in special circumstances. People were expecting that budget may be postponed till 3rd Feb but keeping traditions on the government agreed to present on same date inspite of saturday.
Yesterday our Prime Minister Narendra Modi asserted India people to participate and share their views and expectation with upcoming Union budget. Suggestions can be made on government website http://mygov.in.
Union Finance Ministry asked Indian people to use a number of hashtags for Budget 2020-21 suggestions as well as expectations. These hashtags are #Finance, #Agriculture, #Health, #Farmers, #IncomeTax, #Education, #WaterConservation, #GST, #Employment, #Entrepreneurship, #Infrastructure, #Environment and #Railways. The infrastructure companies sought funds from the government for affordable housing and infra sectors. They claimed that these funds would stimulate the consumption of construction materials. The central government should be focusing on making captive renewal policy in budget 2020.
It is widely expected that FM Nirmala Sitharaman may announce an Income Tax relief in the upcoming Budget 2020 on Feb 1.