The Union budget for 2021-22 is scheduled to be presented in Parliament on February 1, 2021
Finance Minister Nirmala Sitharaman promised a “never before” Union Budget on Friday as the government seeks to steer the pandemic-hit economy and boost growth. While investment in healthcare, medical research and development (R&D), and developing greater skills to handle telemedicine will be critical, livelihood challenges should be viewed on a newer canvas with a newer perspective on health. professional training and skill development.
“Please send me your input so we can see a Budget that is a Budget like never before, in a way. 100 years of India would not have seen a post-pandemic Budget like this.” And that will not be possible unless you get your input and wish list, a clear observation of what has made you overcome the challenge … Without that, it is impossible for me to write something that will be that Budget like never before, Whatever Budget is being made after a pandemic, “Sitharaman said while addressing the 2020 CII Association Summit.
The Union budget for 2021-22 is scheduled to be presented in Parliament on February 1, 2021. The minister said that to revive growth, support must be extended to those areas that have also been severely affected by the pandemic of COVID-19. as for those areas that will now be the centers of new demands and new growth engines.
“Considering the size, the population and the potential that India has for good growth and construction of the economy, I would not hesitate to say that we will be the engine of world growth together with some other countries. We will be a significant contributor to economic revival worldwide, “he said.
Additionally, Sitharaman said that while more funding is provided for infrastructure, it would be important to incorporate private partnerships not only to provide buildings and hospitals, but also to provide the capabilities to manage these hospitals.
Telemedicine will also need a higher level of understanding and greater driving skills, he noted. “… many economies wonder where to get the vaccine once it is formulated or certified, the ones that are made somewhere will have to be sourced.” While in India we are very fortunate to have those capacities to produce the formulation, then certify it and we in India have the capacity to be able to produce as much as (we need) … and more for exports … ”, he said.
Sitharaman also said that the need for time is more investment in medical R&D, biotechnology R&D and pharmaceutical R&D. India has to consider public and private partnerships and also commitment and investment in research areas for medicine, he added. “We will probably be taking all the inputs that the health sector has given us for good consideration in the budget,” said the minister.
“A good example of Aatmanirbhar Bharat is the ability we have demonstrated to produce vaccines, to manufacture formulations that vaccine developers have given and to be in a position not only to manufacture the vaccines that we are formulating in India but also to receive the rights.” to produce vaccines that are developed elsewhere, not only for Indian markets, but also for export, “he said.
According to the minister, job creation would undergo a massive change after the pandemic and thus new skills would have to be imparted.
“Livelihoods will also be a newer canvas in the post-pandemic era. Whether it’s small businesses or large industries, the way jobs are going to be created will go through massive change … So vocational training and skills have to be introduced with a newer perspective, some of the training and skills previously taught may not even be necessary now, but something totally new may be required, “he said. Livelihoods will be a series of challenges in which the industry will have to express its views, he added. a
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