Published On: Fri, May 31st, 2019

FM Nirmala Sitharaman to present Union Budget on July 5

Finance Minister Nirmala Sitharaman would be presenting the Union Budget for the current financial year on July 5.

Sitharam, 59, was defence minister in the previous Modi government and her new portfolio surprised many.

Meanwhile, in past 17 quarters data shows India’s economy grew at the slowest. In January-March period it grew at 5.8 percent and in the 2017/18 fiscal year the unemployment rate rose to a multi-year high of 6.1 percent.

The figures are challenging for Sitharaman, who was junior finance minister in the first term of Modi when Arun Jaitley was the finance minister.

Following the oath-taking ceremony Amit Shah was speculated the head the finance department. In the second term he has been made minister of home affairs.

Amit Shah replaced Rajnath Singh, who is now the new defence minister.

Sitharam is the senior most woman minister in the new cabinet and second woman finance minister after late former Prime Minister Indira Gandhi.

Defence Minister Nirmala Sitharaman. (File Photo: IANS)

However, in the first 100 days a slew of big-bang economic reforms could be seen with focus on privatization of state assets.

The government may also relax land rules for businesses in the first few months of Modi’s second term.

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About the Author

- Paul Linus is an eminent online journalist who has been writing news, features and editorials on different websites from across the world for about a decade. He can be contacted at knowledgeherald@gmail.com

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