Union Budget 2019


Union Budget of India (2019-2020)


union-budget-2019, Finance Minister Nirmala Sitharaman
 Nirmala Sitharaman
                                                  Union Finance Minister


The Union Budget 2019-20 was announced in Parliament on July 5, 2019 by Finance and Corporate Affairs Minister of the Government of India, Nirmala Sitharaman. By the end of the fiscal year, India will become a USD 3 trillion economy.
The government expects to be a $ 5 trillion economy by 2024. The budget also stated that India is ready to become a $ 3 trillion economy this year (2019-2020). There are many other provisions in the budget for different sectors of the Indian economy

Union-Budget-2019
Budget of India

Overview of Union Budget 2019-20

In 2014, India was worth US $ 1.85 trillion. It reached $ 2.7 trillion in five years. The 657 km long metro rail network is operational in the country. Indian economy grows 6.8% in 2018-19 Fourth quarter growth fell to 5.8%. This was down 17 per cent. It is estimated that freight movement in the Ganges is expected to increase fourfold over the next four years.


The government proposes to spend Rs 27,86,349 crore in 2019-20, which is 13.4% higher than the revised estimate for 2018-19. Receipts (excluding net loans) are expected to increase by 14.2% to Rs 20,82,589 crore due to higher income from corporation tax and dividend.

The revenue deficit targets 2.3% of GDP, which is 2.2% above the revised estimate for 2018-19. The fiscal deficit targets 3.3% of GDP, which is lower than the revised estimate of 3.4% for 2018-19. The government estimates that it will exceed the budget target of 3.3% in 2018-19 and the medium-term fiscal target of 3.1% in 2019-20.

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