2020 Union budget of India
The 2020 Union Budget of India (ISO: 2020 kē liē Bhārat kā Kēndrīya Bajaṭ) was presented by the Finance Minister, Nirmala Sitharaman on 1 February 2020, as her second budget. This is the second budget of Narendra Modi-led NDA government's second term. The Economic Survey for 2019–2020 was released on 31 January 2020, a day before the budget. Before the budget speech the report of the 15th Finance Commission was tabled by the Finance Minister.
| Annual Financial Statement of the Central Government for the year 2020–21 The Finance Bill, 2020 | |
|---|---|
Emblem of India | |
| Submitted | 1 February 2020 |
| Submitted by | Nirmala Sitharaman (Minister of Finance) |
| Submitted to | Parliament of India |
| Presented | 1 Feb 2020 |
| Passed | 23 March 2020 |
| Parliament | 17th (Lok Sabha) |
| Party | Bharatiya Janata Party |
| Finance minister | Nirmala Sitharaman |
| Total revenue | ₹30.83 trillion (US$390 billion) (8.5%) |
| Total expenditures | ₹35.09 trillion (US$440 billion) (28.4%) |
| Tax cuts | Numerous |
| Deficit | 9.5% |
| Website | www |
‹ 2019 2021 › | |
The central ideas of the Budget are "Aspirational India, Economic development, A Caring Society". These three broad themes are connected by governance that is corruption free and a financial sector that is clean and sound.
Notably, Nirmala Sitharaman read out a Kashmiri poem during the budget speech in the Parliament, a Tamil couplet written by Thiruvalluvar and a verse from the Sanskrit work Raghuvamsam as well as a French phrase. Some of the aims announced were "improving digital governance, physical quality of life, disaster resilience and social security reach".
At 2 hours and 41 minutes, the budget speech was the longest ever delivered by a Finance Minister of India. Nirmala Sitharaman is also only the second woman to present the budget for a second time after Indira Gandhi.