FM Nirmala Sitharaman announces

Budget 2020 Live Updates: FM Nirmala Sitharaman announces big relief for taxpayers; new tax rates made optional

The Budget Session of Parliament will commence today with an address by President Ram Nath Kovind to the joint sitting of two Houses of Parliament. President Kovind will deliver a speech in the Central Hall of Parliament at 11 am. Vice President Venkaiah Naidu will also chair a meeting of floor leaders of Rajya Sabha at his residence today. The government on January 31 will release the Economic Survey for 2019-2020 just a day before Finance Minister Nirmala Sitharaman presents Union Budget 2020-21 on February 1.

FM Nirmala Sitharaman announces

Budget 2020 Live Updates

Meanwhile, An all-party meeting called by Parliamentary Affairs Minister Pralhad Joshi was held on Thursday in Parliament ahead of the Budget Session. Prime Minister Narendra Modi also attended the meeting along with other Union Ministers, namely, Rajnath Singh, Thawar Chand Gehlot, Arjun Meghwal, V Muraleedharan, and others. Samajwadi Party MP Ram Gopal Yadav was also present in the meet. BJD’s Prasanna Acharya, NCP MP Supriya Sule, Congress MP Adhir Ranjan Chowdhury, RJD leader Manoj Jha, and many other MPs were present in the meeting.

The Prime Minister said that the government was open for discussion on all issues during the Budget Session of Parliament and agreed with the demand of MPs that there should be a discussion on economic issues. In his remarks at the all-party meeting on the eve of the Budget Session, he welcomed suggestions of most members that the session should focus on the prevailing economic situation in the country. He said, “Most of the members have asked for discussion on the economic situation concerning the country. I welcome this and we need to discuss the economic issues as suggested by you all.”

Copies of Economic Survey 2019-20 has reached the Parliament complex on Friday morning which will be presented by the Union Finance Minister Nirmala Sitharaman will present it later today. Ms Sitharaman will present her second Union Budget on Saturday.

Meanwhile, Congress leader Sonia Gandhi led a protest of party leaders in Parliament against the CAA, NPR, and NRC ahead of the Budget Session. Party leaders held placards of ”Save India”, ”No to CAA, NRC” and shouted slogans.

Ahead of Budget Session of Parliament, PM Modi said that all parties should make sure that both Houses see good debates. He said, “We all should make sure that in this session, we lay a strong foundation for this decade. This session will be focussed mainly on economic issues. I want that in both Houses there are good debates on these issues.”

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President Ram Nath Kovind addressed joint sitting of Parliament, starts by invoking Mahatma Gandhi and Nehru. He said, “This decade is crucial for India.”

He added, “The abrogation of Article 370 and Article 35A of the Constitution by Parliament is not only historic but it has also paved way for equal development of Jammu and Kashmir and Ladakh.” While the comment drew long thumping of desks from the treasury benches, the opposition voiced in protest. President Kovind, in his address, also urged the opposition to engage in debate and desist protests, which he said weakens the country.

He said that this Parliament has established a new record of work — triple talaq bill, consumer protection bill, chit fund amendment law, motor vehicle act, transgender right protection bill are major achievements of this government. President Kovind also said that my government is clearly of the view that mutual discussions and debates further strengthen democracy. At the same time, any kind of violence in the name of protest weakens the society and the country.

He further added that his government built the Kartarpur Sahib Corridor in record time, dedicated it to the nation on the occasion of 550th Prakash Parv of Guru Nanak Dev Ji

“The father of our nation – Mahatma Gandhi Ji – had said after partition that Hindus, Sikhs, Buddhists, Jains, and other religious minorities in Pakistan and Bangladesh (East Pakistan) should be granted citizenship of India if they came seeking refuge. We must respect and honour the wishes of the father of the nation. To that effect, I am happy that both houses of Parliament passed the Citizenship Amendment Act to ensure Bapu’s (Gandhi Ji’s) wishes come true.” He said that we condemn the prosecution of minorities in Pakistan. We are open for citizenship to all, who are ready to follow the due legal process and guidelines

As the President mentioned CAA in his speech, Opposition leaders created ruckus in the Parliament and raised slogans.

President Kovind said that the government is committed to achieving the target of $5 trillion economy. He said, “Forex reserve is at a record high and FDI has also increased.”

He further said that under Make in India, the government is focusing on the Railways also. He said, “Tejas and Vande Bharat trains are just another feathers in the cap. People should focus on buying local and made in India products.”

He said, “Our government is committed to the middle class living in small towns. Free tax slab up to Rs 5 lakh help this category a lot.”


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