Budget 2020 Live: India now 5th largest Economy Globally- Sitharaman
Finance Minister Nirmala Sitharaman reached Parliament House. She started addressing the fellow parliamentarians.India is now the fifth largest economy in the world.
New Delhi: Finance Minister Nirmala Sitharaman reached Parliament House. She started addressing the fellow parliamentarians. In this Budget Nirmana focuses on the economical growth of the nation. India is now the fifth largest economy in the world and the Central government debt has reduced to 48.7 per cent of GDP from 52.2 per cent in March 2014, Finance Minister Nirmma Sitharaman said on Saturday.
Presenting the Union Budget for 2020-21, she said growth of 7.4 per cent was surpassed in 2014-19 with average inflation of 4.5 per cent.
Sitharaman also listed out various welfare schemes like affordable housing, direct benefit transfer (DBT) and Ayushman Bharat.
Singapore continued to be the largest source of FDI in India during the first half of the financial year with USD 8 billion investments. It was followed by Mauritius, the US, the Netherlands, and Japan.
FDI is important as the country requires major investments to overhaul its infrastructure sector to boost growth. The government last year relaxed foreign investment norms in sectors such as brand retail trading, coal mining and contract manufacturing.
Allocation of Rs 12,300 crores for Swachh Bharat Mission for year 2020-21.
For Education sector Finance minister allocated budget of 99,300 crore .
Budget of 3000 Crore for Kaushal Vikas.
Modi government to announce new and updated education system.
Proposal of National Forensic University.