A professor at Delhi University said on Tuesday that the country's economy is fully capable of mobilizing resources to meet economic challenges, but the Center must take "strong and creative" steps to increase demand in the upcoming budget. Apart from this, he underlined the challenges related to the economy of the country and said that due to the "weak demand environment in all sectors", the financial health of various businesses is being affected. Alok Puranik, professor of economy at the University of Delhi, said, "Only a reduction in interest rates will not increase demand."
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He said that the Reserve Bank has cut interest rates but the demand has not increased in different sectors. Puranik has said that the Center should take some steps in the budget to increase the purchasing power of the middle class, lower middle class and farmers of the country. He said that better implementation of Kisan Samman Yojana, which provides Rs 6,000 per year to every farmer, can help in increasing demand in many sectors. Finance Minister Nirmala Sitharaman may present the budget for the next financial year on February 1. Sitharaman's budget is very important in many ways. Also worth mentioning is that the country's economic growth is projected to reach a decade low.
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Apart from this, Kazim Rizvi, founder-director of policy thinktank The Dialogue, advocated strengthening the digital sector, saying, "The upcoming budget is really important for the digital sector in India." With the notification of the Private Data Protection Bill, 2019 and the Intermediate Guidelines this year, the general budget may prove to be the only link that can increase the potential for technology investment in India and encourage local startups. ” Said, "This budget is focused on supporting the debt-ridden telecom sector and focusing on investing in local research and development." Yogiki needs to be oriented. Apart from tax reforms to attract investment, the budget should be included in the budget to encourage local manufacturers and promote already existing schemes. ''
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