New Budget 2019: The Budget will draw the roadmap for what policies the government adopts, say analystsIndia's first full-time woman Finance Minister Nirmala Sitharaman will deliver her maiden Budget speech for financial year 2019-20 on July 5.
The Budget speech will be closely watched by individuals, corporates, economist, taxpayers and others for announcement of government policies and schemes at a time when country's economic growth has slowed down to 5.8 per cent and the country has lost its position as fastest growing major economy to China.
The first Budget of Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government after returning to power in May this year will also draw the roadmap for what policies and schemes the government adopts, analysts said.Till 2016, the Union Budget was presented on the last working day of February.
Finance Minister Arun Jaitley changed that tradition in 2017 when the Union Budget was presented on February 1.The Budget speech will begin around 11:00 am on July 5 and Finance Minister Nirmala Sitharaman will start the speech by addressing it to the speaker of Lok Sabha.Individuals can live stream the Budget speech on TheIndianSubcontinent website by clicking on this link:Budget 2019: Economic Survey Presentation DateA day ahead of the Budget presentation, the Economic Survey report for the previous financial year will be tabled in the Parliament.
The Economic Survey summarises the annual economic development in the country.
The Economic Survey report is compiled by the Chief Economic Advisor to the government of India.
This will be the first Economic Survey which to be compiled by Krishnamurthy Subramanian, the present Chief Economic Advisor.