Union Budget 2019 likely to be presented in first week of July
30 May 2019
With a new minister assuming the finance portfolio the new Narendra Modi government is likely to present the full Union Budget 2019-20 by the first week of July, as the 1 February interim budget presentation was a mere formality in an election year.
And, in tune with the shift in focus of the new government, Budget 2019 will also be to set the tone of the economy and work towards sectors like real estate, infrastructure and construction sectors, which can speed up employment generation.
In the interim budget presented on 1 February also, the Narendra Modi-led government had offered some sops to farmers in the wake of wider distress among the farming community. That budget was also presented by interim finance minister Piyush Goyal.
The idea is to focus on sectors like real estate, infrastructure and construction that can speed up job creation and set the stage for economic growth to pick up momentum.
Other major sectors in focus will be SMEs, taxation and ‘Make in India’. The government is also expected to take several reform steps in FDI to kick-start growth.
Capping a landslide General election victory, Modi will take oath along with his new council of ministers at 7 pm today.
Meanwhile, reports said BJP president Amit Shah will assume charge of the finance portfolio since Arun jaitley has opted out citing ill-health.
It is also not known if Jaitley will return as finance minister and Amit Shah’s appointment is a stop-gap arrangement till July or such time his health is back to normal.
Earlier speculation was that railway minister Piyush Goyal, who acted in place of Jaitley and presented the pre-election interim budget for nearly six months, will be a key contender for the finance portfolio.