News:The General Budget 2020-21 has been presented by the Union Finance Minister in the Lok Sabha.
- The word Budget has not been used in the Constitution of India.Rather Article 112 of the Constitution of India mentions the term “Annual Financial statement”.
- The budget is a statement of the estimated receipts and expenditure of the Government of India among other things.
Theme of Budget 2020-21:The Union Budget has been structured on the overall theme of “Ease of Living.”
Aim of the Budget:Union Budget 2020-21 aims to:
- To achieve seamless delivery of services through Digital governance
- To improve physical quality of life through National Infrastructure Pipeline
- Risk mitigation through Disaster Resilience
- Social security through Pension and Insurance penetration.
Prominent Theme:The budget is woven around three prominent themes:
- Aspirational India in which all sections of the society seek better standards of living, with access to health, education and better jobs.
- Economic development for all, indicated in the Prime Minister’s exhortation of “SabkaSaath, SabkaVikas, SabkaVishwas”.
- Caring Society that is both humane and compassionate, where Antyodaya is an article of faith.