Budget 2020: MCX future markets to remain open for trading on Feb 1

Budget 2020: The Multi Commodity Exchange's (MCX) future markets will remain open for trading on February 1, 2020. The Narendra Modi government will be presenting its annual budget on 1st February which is a Saturday.  The MCX future markets will remain open between 9 am and 5 pm to allow trading on the same day. Usually, Markets remain close on Saturdays. Also, the Parliament doesn't work on the day.

Finance Minister Nirmala Sitharaman will be presenting her second full Budget 2020 on 1 February. On 31 January, there could likely be a joint session of parliament to kickstart the Budget Session. 

President Ram Nath Kovind will be addressing a joint sitting of both the Lok Sabha and the Rajya Sabha in the central hall of Parliament at 11 am on January 31. "The President has summoned the Rajya Sabha to meet on Friday, January 31, 2020, at New Delhi. Subject to exigencies of business, the Session is scheduled to conclude on Friday, April 3, 2020," according to a communication released by Rajya Sabha secretariat.

While all eyes are on the union budget, there is also a lot of enthusiasm about the Economic Survey which is released on the eve of the budget presentation. The survey will be presented by Chief Economic Adviser Krishnamurthy Subramanian.

The Economic Survey of India is the flagship document prepared by the advisors to the finance minister which comprises of the current trend in the country's economy and a comprehensive report card of the economy in that fiscal year.

The document was first presented in the year 1950-51 and was submitted in the Lok Sabha along with the Union Budget until 1964. In the year 1964, the survey began to be released a day before the Budget.

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The survey holds a lot of importance as it presents a picture of the existing economic situation of the country. The Economic Survey 2018-19 was covered in a pink cloth by then Chief Economic Advisor Arvind Subramanian.