There are no signs of improvement in the economy at the moment. Meanwhile, preparations for Budget 2020 have started from today. Finance Minister Nirmala Sitharaman will hold a meeting with all the stakeholders.
Nirmala Sitharaman said all efforts made by the government to accelerate the demand
In an economic conclave, she said that all efforts made by the government to accelerate the demand. Steps taken to give more money in the hands of the consumer so that he can spend more.
Speed in payment of schemes
Nirmala Sitharaman said that we are accelerating MNREGA (MGNREGA) and Pradhan Mantri Kisan Yojana to get more money in the hands of consumers. Payments of the beneficiaries of government schemes accelerated. He said that the government fully committed to achieving the target of a 5 trillion dollar economy. Also, fast work done to make it a reality.
GST rates cuts are just a rumor
Terming the media report of a change in GST rates as a rumor. Also, she said that it discussed everywhere except for my office. The GST Council scheduled to meet on 18 December. Whether there is any change in rates will have to wait for the outcome of the meeting.
Behind target in GST collection
Regarding the reduction in GST collection, he definitely said that we are far behind the target. Regarding the reasons for this, he said that the deadline for filing returns was extended in some flood-affected states. Apart from this, the impact of sluggishness in some sectors is also visible. She said that the Central and State Governments are jointly negotiating the serious issue of GST collection.
Finance Minister Nirmala Sitharaman will present the general budget of 2020-21 on February 1 next year. On July 5 this year, she presented the budget for the first time. To accelerate the economy, many announcements made even after the budget. It was very important to reduce the corporate tax from 30% to 22%. However, Sitharaman announced this on 20 September.
