Budget 2020: Sitharaman lists three themes for Union Budget 2020-21

Finance Minister Nirmala Sitharaman listed out three themes the Budget 2020 is based on.


A screengrab from the Budget 2020 presentation

, Courtesy: LSTV

As the Union Budget 2020 presentation is underway, Finance Minister Nirmala Sitharaman listed out three themes the budget is based on, namely, aspirational India, economic development for all and caring society.

"The budget 2020-21 is woven around three prominent things - aspirational India in which all sections of the society seek a better standard of living, with access to health, education, and better job; Two, economic development for all, to ensure higher productivity and greater efficiency. Three, ours shall be a caring society that is both humane and compassionate society," FM Sitharaman said.

Starting the Budget 2020 speech with a commitment of the Narendra Modi government serve the country with 'all humility and dedication', the minister said that people have reposed faith in the Centre's economic policy.

"People of India have unequivocally given their support to the policies of the Narendra Modi government. People reposed faith in our economic policies. This Budget aims to address aims, aspirations of people," she said, adding that "with renewed vigour, under PM's leadership, we commit ourselves to present the people of India with all humility and dedication."

The Union Finance Minister, who is presenting her second and the Modi government's seventh consecutive one Budget, is expected to pull out all stops to spur investment to boost the economy. She may also announce tax sops as a measure to spur consumer demands. 

As the revenue collection is also down this year, she is also facing the tough task to maintain the fiscal deficit target. 

Sitharaman is also under huge pressure as Prime Minister Narendra Modi has set an ambitious target of achieving US $5 trillion economy by 2025.