The upcoming Union Budget is expected to be presented on February 1, 2021. Ahead of the upcoming Budget, PM Modi has decided to interact with leading economists.
Accordingly, the PM will interact with leading economists and sectoral experts on January 8 Friday to deliberate on measures that may be included in the upcoming budget for promoting growth, amid uncertainty on multiple fronts caused by COVID-19.
The meeting, being organised by the government think tank NITI Aayog will be held virtually and will also be attended by NITI Aayog Vice-Chairman Rajiv Kumar and CEO Amitabh Kant. "The Prime Minister will meet economists on Friday to seek their inputs for the next budget,” said a government official on condition of anonymity.
The meeting assumes significance as according to the RBI, India’s economy is projected to contract 7.5 pc in the current fiscal ending March 31, 2021, while the International Monetary Fund (IMF) and World Bank estimates the contraction at 10.3 percent and 9.6 percent, respectively.
India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 pc and held out hopes for further improvement on better consumer demand. India’s economic growth stood at an estimated 4.2 pc cent in 2019-20.
Centre mulls policy measures for Budget FY22
