Modi exhorts on implementation...Â
Narendra Modi has been giving new thrusts to the Prime Minister’s Independence Day address to the nation. He has been...
Steep fall in revenue, increase in borrowings, huge step-up in expenditure to provide succour for the Covid-19 affected population and a slowdown in economic growth had resulted in a steep spurt in fiscal deficits of the Centre and states. Privatisation and monetisation, therefore, offer an ideal panacea.
2020-21 HAS BEEN one long year of budgets. The Covid-19 pandemic threw to winds the estimates, priorities and the very framework of the budget presented a year ago on 01 February 2020. We witnessed continuous attempts at fiscal corrections to cope with the enormity of the Covid-19 dislocations. Finance Minister Nirmala Sithara- man presented Atmanirbhar Bharat packages 1.0, 2.0 and 3.0 in quick succession. Reserve Bank Governor also announced a few monetary measures. These together were estimated to cost Rs 27.1 lakh crore that amounted to over 13 per cent of the GDP
