New Delhi, 31 January: On the first day of the budget session of Parliament, on Friday, at 11 am, President Ram Nath Kovind will address both the Houses in the Central Hall. Finance Minister Nirmala Sitharaman will present the Economic Survey Report for the financial year 2019-2020 in both the houses. Its copy has reached Parliament House.
Economic survey report provides correct information about the financial condition of the country. The Ministry of Finance prepares this report with the help of economic experts. The theme of the economic survey this year is ‘Wealth Creation’. The government has projected a growth rate of 5 percent in this financial year (2020-21). This is the lowest level in the last 11 years, while the growth rate fell to 4.5 percent in the second quarter.
The General Budget for the financial year 2020-21 will be presented on 1 February. The Economic Survey is presented in Parliament just one day before the budget. This officially shows the condition of the country on the economic front last year. The survey report of the previous year had stated that the growth rate of GDP was 6.8 per cent in FY 2018-19 instead of 7.2 per cent in FY 2017-18.
Budget session in two parts: This time the budget session is divided into two parts. In the first it will run from January 31 to February 11 and in the second from March 2 to April 3. The BJP Executive Committee will meet in Parliament Library and meeting of NDA at around 3:30 pm on Friday.