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Budget 2020: New reforms announced in budget will accelerate economy, says PM Modi

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Budget 2020: New reforms announced in budget 2020 will accelerate economy, PM Modi said on Saturday. The PM said agriculture, infrastructure, textiles and technology are the main areas of employment. "In order to increase the employment generation, these four have been given a lot of emphasis in this budget," he said. Earlier Finance Minister Nirmala Sitharaman said the government had estimated nominal growth of GDP for the year 2020-21 on the trends available, at 10 per cent. Sitharaman, while presenting Budget in Parliament, also announced to sell a part of its holding in LIC by initial public offer. She said the Centre has decided to increase deposit insurance coverage to Rs 5 lakh per depositor from the current Rs 1 lakh.

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