Budget 2020 India: Bombay Stock Exchange (BSE) will remain open for trading on February 1, Saturday like any other trading day on account of union budget 2020, according to a BSE notice. The trading will be done in the normal hours of 9 AM to 330 PM. The stock markets generally remain closed on Saturdays and Sundays besides other holidays accounted for in the trading calendar. Financial Express Online had earlier reported citing a BSE spokesperson that BSE Sensex would remain open for trading on the budget day this time. Last it was on February 28, 2015 that the union budget was presented on a Saturday. Former Finance Minister Arun Jaitley had then presented the budget. Finance Minister Nirmala Sitharaman is slated to present the budget 2020-21 on February 1, 2020.
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The budget is expected to be keenly watched as it comes amid the ongoing slowdown. The Indian economy is seeing sluggish growth for some time now on account of both domestic and global factors. The budget 2020 is likely to announce further measures to boost economic growth. In the past few months, Nirmala Sitharaman has announced various measures ranging from bank recapitalisation to increasing liquidity in the market to prop up growth.
The International Monetary Fund (IMF) recently slashed growth rate forecasts for both the Indian and the global economy. The global growth is expected to reach 3.3 per cent in 2020, compared to 2.9 per cent in 2019, the slowest pace since the financial crisis a decade ago. The Washington-based international crisis lender revised downward India's GDP growth projection to 4.8 percent for FY20 and to 5.8 percent for FY21. "(India's) domestic demand has slowed more sharply than expected amid stress in the non-bank financial sector and a decline in credit growth," the IMF report said.