Full Transcript Of Part-1 Of Prannoy Roy s Townhall On Post-Pandemic World Full Transcript Of Part-1 Of Prannoy Roy s Townhall On Post-Pandemic World
Updated: March 03, 2021 10:54 pm IST
NDTV: Hello and a very, very warm welcome to this, the first of a four-part series of Town Halls on the Post-Pandemic world. This is actually a very special discussion for me, it s the first time I have interacted with six absolutely exceptional people, four of whom are Nobel Prize winners, Paul Milgrom, Abhijit Banerjee, Michael Kremer, and I also thank Raghuram Rajan and Kaushik Basu, two people who many say could soon be Nobel Prize winners too, and I believe that. And in a final exclusive programme, we have a very special interaction with the one and only Amartya Sen. Our overriding focus for this series of Town Halls is to ask, after this pandemic Budget, what comes next? Where is India heading? What lies ahead for all of us in the next few months and a year or two. To get the most in-d
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https://mybs.in/2ZbNwwH Finance Minister Nirmala Sitharaman has promised an extraordinary Budget to deal with the extraordinary fallout from the pandemic. Let’s look at some of the challenges she faces. The economy was shattered by the pandemic and lockdown. It has seen once-in-a-lifetime contraction, and millions have suddenly been rendered unemployed. The highest priority for the finance minister will be to ramp up growth as much as possible, and to do this while providing maximum employment opportunities. Weak government finances present another challenge. The Fiscal Deficit has expanded in 2020-21, due to low tax collections and missed disinvestment targets. This means the government has little room to expand expenditure further because the fiscal deficit could go out of control. It also means the government will have a massive market borrowing programme through 2021-22. That could crowd out private borrowing.
Rising Capex towards urban projects slowed in FY21 till now The government’s spending on urban development is majorly on metro projects (capital expenditure), housing for the underprivileged, and the urban renewal projects. Nearly half of the ministry spending is productive capex. But in the current financial year, the flow towards capex has slowed down a bit, due to the need to spend financial resources elsewhere.
Big Hindi heartland states have spent most efficiently on Smart Cities projects The Smart Cities mission was instituted to bring in investments in cities, which are undoubtedly the engines of growth. But against the work orders of over Rs 1 trillion issued to date, project to the tune of Rs 29,000 crore (27%) are complete (Sep 2020). But urbanisation varies across states. MP and UP lead in per capita spending under the initiative
Read more about What FM Sitharaman may and may not do in her promised never-before Budget on Business Standard. Wish lists are routine as the govt prepares its annual Budget. But its finances are stretched and the pandemic isn t over. Akash Podishetty lists what the FM could announce in the Budget on Feb 1