India's Finance Minister Nirmala Sitharaman is going to present the country's general budget today at 11:00 am. There is an economic slowdown globally despite this Indian citizens are expecting the good budget this time. This budget may have several major announcements such as personal income tax cuts, concessions for rural and agricultural sectors, the allocation for infrastructure sector projects. This general budget presented today is the second budget of Nirmala Sitharaman. It is also the second budget of the second term of the Modi government.
Government sources and economists say that amid the biggest economic slowdown for more than a decade, the finance minister can take all possible steps to increase consumer demand and investment. Several big steps can be taken in this budget to achieve the goal of making the country a $ 5 trillion economy by 2025. To achieve this goal, it is necessary to increase economic growth.
At present, the economy of the country is going through a slowdown. The GDP is estimated to be 5 percent in the current financial year. This will be the lowest economic growth in 11 years. Talking at the global level, there is tension in the geopolitical field. There was a trade war between the world's first and second-largest economy for a long time. However, it has reduced tension now. In such domestic and global circumstances, it is a big challenge for the Finance Minister to present a budget that achieves better economic growth.
In this budget, a clear roadmap can also be presented to make the country an economy of $ 5 trillion by 2025. If you look at the Economic Survey laid in Parliament on Friday, then in this, the government has given many measures to speed up the economy. These included measures to boost industry confidence and make business easier.
