Union Budget 2019 Date and Time: Here is when Nirmala Sitharaman speech will start

Union Budget 2019 Date and Time: The first budget of the second tenure of Modi government is less than three weeks away. This year's Union Budget will be presented by Finance Minister Nirmala Sitharaman who is also the first full time finance minister of the country. The Union Budget is the most comprehensive report of government's finances, which consolidates revenues from all sources and outlays for all activities. The Budget is prepared by the Ministry of Finance after consulting with other ministries. Just one day before the presentation of Budget, economic survey is tabled. 

Union Budget 2019 Date

Usually, the Union Budget is tabled on February 1. However, due to the Lok Sabha elections that were scheduled for April and May, only an interim budget was presented in Feb this year. Now, the newly elected government will table the full-year budget for the year ending March 2020 on July 5. The interim budget for the year 2019-20 was presented by then Finance Minister Piyush Goyal on February 1. Goyal was appointed as the interim finance minister as Arun Jaitley was not well. 

Union Budget 2019 Time

Till 1999, the Union Budget was announced at 5 pm on the last working day of February. But, that was changed by former finance minister Yashwant Sinha who announced the 1999 Union Budget at 11 am. Also, the Railway budget was presented few days before the Union budget till 2016. The government had scrapped the 92-year-old practice of presenting rail budgets and general budgets separately. 

The Union Budget 2019 is yet to be announced by the government. However, the interim budget was presented at around 9:30 am by Piyush Goyal and Sitharaman's presentation could start at the same time. 

What you should know?

This year's budget would be closely watched by individuals, corporates, economists, taxpayers and others. The Modi government is expected to make changes in the income tax slabs which would come as a major relief for taxpayers. Also, it comes at a time when country's economic growth has slowed down to 5.8 per cent and India has lost its position as fastest growing major economy to China. 

Since this is the first budget of the newly elected Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government, it may also draw the roadmap for what policies and schemes the government adopts.