On Thursday, ahead of the Union Budget 2020, Prime Minister Narendra Modi met the country’s top economists and experts to discuss the state of economy and steps to be taken to revive growth which is estimated to drop to 5 per cent during the current fiscal which is the slowest in 11 years.
The meeting, which took place at Niti Aayog, is an annual exercise by the government think tank ahead of the budget. In June, Prime Minister Modi had met 40 top economists of the country.
Home Minister Amit Shah, Railway Minister Piyush Goyal and Union Minister of Road Transport and Highways Nitin Gadkari, Niti Aayog Vice Chairman Rajiv Kumar, CEO Amitabh Kant and other senior officials of the government think tank, as well as sector experts, were also present in the meeting.
— NITI Aayog (@NITIAayog) January 9, 2020
Gross domestic product is estimated to grow 5 per cent in 2019/20 — slower than the 6.8 per cent growth of 2018/19, the Ministry of Statistics said in a statement. In 2008/09, after the global financial crisis, growth had slowed to 3.1 per cent.
The Prime Minister had earlier invited ideas and suggestions for the Union Budget 2020 on MyGov.
“The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India’s development. I invite you all to share your ideas and suggestions for this year’s Budget on MyGov,” he tweeted.
The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India’s development.
I invite you all to share your ideas and suggestions for this year’s Budget on MyGov. https://t.co/zVCL06TdLn
— Narendra Modi (@narendramodi) January 8, 2020
The Budget session of Parliament will commence on January 31 and conclude on April 3, sources said earlier today.
Finance Minister Nirmala Sitharaman will present her second Union Budget on February 1.
The first phase of the session will be from January 31 to February 11 and the second one from March 2 to April 3, sources added.