CURRENT AFFAIRS

Detailed explanation-1: -Union Budget 2019 was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on July 5. The Budget session would begin from June 17 and is scheduled to end on July 26. This was the first Budget for both Sitharaman and the Narendra Modi government in its second term.

Detailed explanation-2: -The 2020 Union Budget of India (ISO: 2020 kē liē Bhārat kā Kēndrīya Bajaṭ) was presented by the Finance Minister, Nirmala Sitharaman on 1 February 2020, as her second budget. This is the second budget of Narendra Modi-led NDA government’s second term.

Detailed explanation-3: -Sitharaman’s budget for the fiscal year starting April 2023 is her fifth straight since 2019. Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.

Detailed explanation-4: -In her Budget 2019-20 speech, Finance Minister Nirmala Sitharaman had proposed a study for setting up DFIs for promoting infrastructure funding. About 7,000 projects have been identified under the National Infrastructure Pipeline (NIP) with projected investment of a whopping Rs 111 lakh crore during 2020-25.