Union Budget 2021 Live Updates, Budget 2021 Live News: The current year is expected to end with a net GDP contraction of approximately 7 percent.
FM Nirmala Sitharaman Live from Parliament, Union Budget 2021 Live Announcements: Finance Minister Nirmala Sitharaman has secured a budget “like never before.” The budget is expected to be transformative in its measures for health care, job creation, and Micro Small and Medium Enterprises (MIPYMES). India Inc., which was already dealing with a slowdown in the economy even before the pandemic upset plans and projects, is hoping to budget for its measures to drive growth, bring in industry-specific investment enablers and streamlined regulatory compliance. mechanism. Some of the questions that most experts will look for answers in the budget include: What new ideas will emerge from the budget to help the economy recover and make up lost ground? How good will the budget be for being innovative in tackling challenges without being adventurous? What will be the direction of capital spending? What can the infrastructure budget do and through that generate the ripple effect in job creation and attracting new investment? How much of this will go to building the agricultural supply chain? Will the budget take a break from the past for businesses and the common man and present a predictable, consistent and stable tax regime, avoid sudden changes and present a budget that will not need multiple stimulus packages or off-budget exercises this year? crucial in which the economy faces its first decline and is technically in recession with the last two consecutive quarters showing a contraction of the Gross Domestic Product (GDP).
The current year is expected to end with a net GDP contraction of around 7 percent. Finally, despite the anticipated increase in spending, will the Minister of Finance be able to draw up a concrete plan for fiscal consolidation and reduce the fiscal deficit by at least 2%, given the measures that indicate that growth in aid will also lead to higher income than expected? resources from the government divestment program.
The 2020 Economic Survey, presented by FM Nirmala Sitharaman on Friday pegged GDP growth at 11% in fiscal year 22. Watch for LIVE updates on Budget 2021 with Financial Express Online:
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