NEW DELHI : The Government would not hesitate to increase the spend under the Mahatma Gandhi National Rural Employment Guarantee (MGNREGA) Programme if
A doctor checks the temperature of a child at a mobile clinic in Chennai. | Arun Sankar/ AFP
The Union Budget for the fiscal year 2021-’22 was supposed to be a landmark plan. The Finance Minister, Nirmala Sitharaman had said this Budget would be unprecedented, and while we know that such grandiose labels are used every year, the circumstances this year are different.
Coming on the back of an unprecedented global pandemic that has shot the wheels off the Indian economy, clearly there was an important moment. The Budget, already weary under the constraints of a stuttering economy, had much to do and a lot of people to please. The time had come to finally make a large allocation to public investment that could spur growth.
Nirmala Sitharaman s Budget Like Never Before Obliges Urban Population While Satisfying The Rural
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Finance Minister Nirmala Sitharaman s third budget in two years was one that registered unprecedented fiscal deficit, an intent that is definitely encouraging for an economy that has been beaten to the ground by a once in a century crisis . Being compared to its 30-year-old counterpart, when the then Finance Minister Manmohan Singh opened the Indian economy for liberalisation, Sitharaman s budget will be remembered for uplifting living standards of the populace in the face of a battered fiscal.
Budget 2021 s tone was clear: reviving the severely hit urban population while making sure that the rural folk is not left wanting.
Is Union Budget 2021-22 MGNREGA allocation enough to alleviate rural distress downtoearth.org.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from downtoearth.org.in Daily Mail and Mail on Sunday newspapers.
Budget 2021 | Feel-good factor that would nudge consumption is missing
The Budget does not have any big-bang announcements and the message that goes out is that one should be conservative in spending in the immediate future as well. Nissy Solomon
Representative image (PC- MoneyControl.Com)
Tabled in the backdrop of a crisis-struck economy, the Union Budget 2021-22 attempted to nurse the economy back to health. Faced with subdued consumer demand, less spending on infrastructure and a historic contraction in four decades, the Budget had massive challenges to address, many even pre-dating COVID-19.
The Economic Survey made a case for a massive fiscal push to enable counter-cyclical measures. Consistent with this, a slew of measures were announced by Finance Minister Nirmala Sitharaman. The Economic Survey advocated deficit financing as long as the growth of the economy was higher. Given the deficit growth and revenue receipts in the CO