A day after the modest 5 per cent growth estimates by the government, Prime Minister Narendra Modi on Wednesday sought to engage with the people directly on their demands, aspirations and wishes from the Union Budget in reaching towards developmental growth.

"The Union Budget represents the aspirations of 130 crore Indians and lays out the path towards India's development. I invite you all to share your ideas and suggestions for this year's Budget on MyGov", Modi tweeted. 

He also tagged the Finance Ministry -- "FinMinIndia looks forward to your suggestions for the #UnionBudget2020 which will be presented in the Parliament in the upcoming session," he said. 

Share your valuable ideas in the field of #Farmers, #Education & others on https://www.mygov.in/group-issue/inviting-ideas-and-suggestions-union-budget-2020-2021/ a @nsitharaman @nsitharamanoffc @ianuragthakur. 

Finance Minister Nirmala Sitharaman had already asked for public views on the budget earlier. 

Modi had a brainstorming session with the top 11 industry captains including Ratan Tata and Mukesh Ambani this week on economic revival and demand growth. The 5 per cent growth projection is a 11-year low. 

The Budget is likely to be presented on February 1, though a date has not been announced yet.

Gross domestic product is estimated to grow 5 per cent in 2019-20, slower than the 6.8 per cent growth of 2018-19, the Ministry of Statistics said in a statement.

Meanwhile, the markets opened in the red on Wednesday with the 30-scrip Sensitive Index (Sensex) opening on a negative note during the morning session of the trade.

The Sensex of the BSE opened at 40,574.83 and touched a high 40,634.18. and a low of 40,476.55.

The Sensex is trading at 40,633.57 down by 235.90 points or 0.58 per cent from Tuesday's close at 40,869.47.

On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 11,939.10 points after closing at 12,052.95 points.

The Nifty is trading at 11,974.60 points in the morning.