As the Budget Session of the Parliament began on the 31st of January, all eyes are on the Economic Survey, which would be presented by Nirmala Sitharaman, the Finance Minister of India.
Prime Minister Narendra Modi, while entering the Parliament, addressed the media and said, “I want wide ranging, qualitative discussion on the economy in both houses. Our session should be focused on economic matters and how India can take advantage of the current global economic situation,”
The Budget Session started with the remarks of PM Modi, followed by a speech by Ram Nath Kovind, the President of India.
President Kovind addressed the Parliament and spoke about the ongoing issues and decisions taken by the Central Government in the past, including the abrogation of Article 370. Mr. Kovind said, “The abrogation of Article 370 and Article 35A of the Constitution through two-thirds majority by both the Houses of Parliament is not only historic but it has also paved the way for equal development of Jammu and Kashmir and Ladakh.”
Later, he shared his view about the Citizenship (Amendment) Act, 2019. The Act created chaos in India, including continuous protests and violence. President Ram Nath Kovin said, “Support CAA if you believe in the idea of India.”
Mr. Kovind said the CAA fulfills the dream of Mahatma Gandhi, the Father of the Nation. Justifying the implementation of the Act, President Kovind said the Act would help those minorities which are being persecuted in countries like Bangladesh, Pakistan and Afghanistan. He also condemned the attack on these minorities in the aforementioned countries.
Speaking about the current scenario, President Kovind praised the Central Government and informed how on the 2019 Travel and Tourism Competitiveness Index list, India stood 34th, an improvement from the previous rank of 52nd. He also spoke about the Resolving Insolvency Insex, in which India stood 52nd, moving up from its previous rank of 108th.
After the President’s speech, Nirmala Sitharman started her speech, following which she would discuss the Economic Survey in the Parliament.
Ms. Sitharaman would present this decade’s first Union Budget on the 1st of February.
Later in the afternoon, around 1:45 P.M., Dr Krishnamurthy V. Subramanian, the Chief Economic Advisor (CEA) of India, would address a press conference and brief the media about the Economic Survey 2020.
The Union Budget Session is underway. Stay tuned for further updates.
