New Finance Minister Nirmala Sitharaman is presenting the budget today in Lok Sabha
The finance minister of India Nirmala Sitharaman was seen with a red folder outside the Ministry of Finance on Friday Morning. The red folder contained all important budget documents. The red folder is a move away from the traditional briefcase which was used till date by previous finance ministers who came to parliament to present the budget.
“It symbolizes the departure of slavery for India from western thoughts. It is an Indian tradition and it is not a budget it’s a Bahi- Khata (Ledger)”, said the Chief Economic Advisor KV Subramanian on the Sitharaman’s choice of carrying the folder.
Sluggish consumer demand in last few months will be under consideration by Nirmala Sitharaman
The Union Minister is supposed to present the Budget today for the year 2019-20. People and experts are looking forward towards the allocation of the budget as India has experienced a dip in the economy in the first quarter of the year 2019.
While major changes are not expected in the maiden budget of Nirmala Sitharaman but surely, it would be a step to work on the sluggish consumer demand situation in the country right now.
Parents of Finance Minister Narayanan and Savitri Sitharaman are likely to be present at the Parliament when the budget will be announced.
Earlier today, Anurag Thakur and Nirmala Sitharaman took time to give photographers some time to have some photos.
The new finance minister is the successor of Arun Jaitley
The new Finance Minister has been appointed in the Modi 2.0 government which was held by Arun Jaitley in the first term of NDA government. Due to health reasons, Arun Jaitley had to move out and Nirmala became the Finance minister. She will be the first women finance minister to present the budget in 49 years.
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