Union Budget 2020-21

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.