The second-term NDA government is slated to present its maiden Budget on Friday and all eyes are on finance minister Nirmala Sitharaman who will present the Union Budget 2019 for the financial year 2019-20. This is the first budget to be presented under the Narendra Modi government 2.0 after it got re-elected in recent Lok Sabha elections. The interim Budget 2019 was presented by Piyush Goyal who was given the charge of finance ministry temporarily following the illness of Arun Jaitley. However, this time the Union Budget 2019 will be presented by Sitharaman, the first full-time woman finance minister to present the Union Budget in Parliament. Earlier, Indira Gandhi has also presented the Union Budget but she wasn't a full-time finance minister.
When will the Union Budget 2019 be presented?
The Union Budget 2019, which will show estimated receipts and expenditure of the government for this particular year, is all set to be presented on July 5. The Budget will be presented in the Parliament by Sitharaman at 11 am.
Catch Nirmala Sitharaman’s Union Budget 2019 Speech Live on CNBC Bajar
Till 1999, Finance Ministers began their speech at 5 pm on the day of the Budget. However, when Yashwant Sinha got appointed as the Finance Minister, he changed this practice by announcing the Budget at 11 in the morning.
What is an Economic Survey?
Economic Survey is something that reviews the development in the Indian economy over the previous 12 months and is usually presented a day before the Union Budget. This year it was prepared by Chief Economic Advisor, Krishnamurthy Subramanian. The Economic Survey 2019 was presented by Finance Minister Nirmala Sitharaman around 12 noon in Parliament.
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