Even though the Union Budget is to be presented only on Friday, July 5, and there’s a lot of confidentiality maintained as far as Indian budgets go, some clues are available from answers the Finance Minister has given in the Rajya Sabha. Furthermore members of Parliament asked questions and Nirmala Sitaraman has submitted a written response to one such question on the economy by an MP in the Rajya Sabha.

Image result for Union budget have something special for sectors like textiles and real estate Nirmala seetharaman

Reportedly one of the key takeaways from the Finance Minister’s reply to the question is the seriousness being attached at the top levels of the Indian government to the issues of encouraging investments, particularly in sectors that can create more employment. Meanwhile the budget therefore may have something special for sectors like textiles and real estate, considered largest employers in the country. Currently the government has been holding discussions with experts from diverse fields to gather their opinions on what all can be done to kick-start the economy and the minister has also referred to the five-member cabinet committee on investment and growth chaired by the Prime Minister that has been constituted to address the issues.



Moreover on the issue of willful defaults, the reply placed in the Rajya Sabha by Finance Minister Nirmala Sitaraman says Rs 1.5 trillion worth of loans have been classified as “willful defaults" in FY19 by the state run banks, with the SBI accounting for as much as Rs 46,158 crore of this amount. PNB and Bank of india stand second and third in terms of loans defaulted from their books.


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