Union Budget 2020-21

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News:The General Budget 2020-21 has been presented by the Union Finance Minister in the Lok Sabha.

Facts:

About Budget:

  • 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.