New Delhi: Finance Minister Nirmala Sitharaman is all set to deliver her budget speech shortly that is expected to provide relief to the pandemic-hit common man as well as focus more on driving the economic recovery.
Dressed in a red silk saree with off-white detailing and golden border, Sitharaman continued with the tradition she set in 2019 carrying the Union Budget speech in a bahi-khata, though this time it will be a red coloured ‘Made in India’ Tab.
On the first day of the budget session of Parliament, FM Sitharaman on Friday tabled the pre-budget Economic Survey for 2020-21, which projected a ‘V’-shaped recovery for the economy in the next financial year. The economy is projected to contract by 7.7 per cent in the current fiscal ending March 31, 2021 and expanding by 11 per cent in the next.
Sitharaman, who had in her first budget in 2019 replaced leather briefcase that had been for decades used for carrying budget documents with a traditional red cloth ‘bahi-khata’, had earlier this month stated that the budget for the fiscal year beginning April will be “like never before”.
Ahead of her third Budget presentation, Finance Minister Nirmala Sitharaman and her team will meet President Ram Nath Kovind, and will likely be accompanied by her deputy Anurag Thakur and other officials of the Finance Ministry.
Finance Minister had launched the ‘Union Budget Mobile App’ for hassle-free access of Budget documents by Members of Parliament (MPs) and the general public using the simplest form of digital convenience, according to the Finance Ministry.
The App facilitates complete access to 14 Union Budget documents, including the Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), and Finance Bill as prescribed by the Constitution. Ahead of the Budget, Sitharaman tabled the Economic Survey tabled in Parliament on Friday. The Indian economy can contract by 7.7 per cent in the current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the survey.