And all set for budget 2020.Budget will be announce on 1st February,2020 on Saturday and this is the first time after 2015-16 when budget will be announce on off-day that is on Saturday.All the economic survey will be out on 31st January,2020.
This budget is something different than all previous budgets Because this time all the things are against government and that would be the challenge for our FM Nirmala Sitharaman.People don’t have cash in their hand to buy goods that is again the main problem.It is very diificult to satisfy each and every sector from this budget. There are many reasons:
-Currently India is facing economical crisis and severe loss of business.private sector investment(The mainstay of suistanable economy) is at 15 year low.
-Other than that the Automative component Manufacturers Association of india(ACMA) warned in july that 10 lakh jobs at risk and urgent action needed to bring industry on back normal state.
-Household survey finds the unemployment rate is the lowest since 1969.
-GDP growth rate is fall from 8 to 5 percent in the second quarter(April-june) and it further fall seen in july-sept quarter that is 4.5.
Expectations from Budget:
-There may be relaxation in tax for middle class to increase cash on the ground level so that common people can buy goods.
-This budget may be focus on automobile sector as it is falling dranstically and will more focus on electrical vehicle as per the proposal the deadline for three wheeler is 2023 and for two wheelers is 2025.
-Government may ease rules to help companies to boost.
-This budget may be employment friendly that would may be more focused on startups and MSMES.
-There may be a new schemes for rural area development.
