Given the credibility of the numbers projected in the Budget, he hoped that the global rating agencies would retain India s sovereign rating at the existing levels.
Read more about Higher deficit shouldn t put pressure on India s sovereign rating: DEA Secy on Business Standard. India s sovereign rating should not come under pressure due to surge in fiscal deficit which was mainly on account of higher expenditure to deal with the C-19 pandemic, said Economic Affairs Secretary
India's sovereign rating should not come under pressure due to surge in fiscal deficit which was mainly on account of higher expenditure to deal with the COVID-19 pandemic, said Economic Affairs Secretary Tarun Bajaj.
The team behind Union Budget 2021-22
We profile Finance Minister Nirmala Sitharaman and her budget-making team January 06, 2021 / 06:09 PM IST
In less than a month, the Narendra Modi government will present perhaps its most important budget, a make-or-break budget so to speak, as the Indian economy recovers from an unprecedented global pandemic. Like the rest of the world, Covid-19 flatlined the economy, with the first quarter witnessing the steepest contraction in independent India’s history. For the full year 2020-21, GDP is likely to witness the first contraction in four decades.
It is in this backdrop that the budget will be presented, Finance Minister Nirmala Sitharaman and her team will navigate often competing, multiple demands from various sectors, citizens, and stakeholders to provide a balm or a boost in these Covid times.
Looking at various options, bad bank still in works: DEA Secy
DEA Secretary Tarun Bajaj said the government would continue with momentum on reforms which began right after the pandemic and the upcoming Budget will reflect that emphasis on economic reforms. December 19, 2020 2:30:04 am
Department of Economic Affairs Secretary Tarun Bajaj. (Photo source: Twitter/@FinMinIndia)
The government is examining various options including that of setting up a bad bank to help in improving the asset profile of public sector banks and enable credit growth in the economy. Other measures including recapitalisation of the state-owned banks is likely in the medium term, Department of Economic Affairs (DEA) Secretary Tarun Bajaj said Friday.