Prime Minister Budget 2021 Narendra Modi will discuss with leading economists and experts from various fields today.
Will discuss the meeting ways to resolve them amidst the uncertainty in the economy caused by the Covid-19 epidemic. The meeting will be virtual and organized by NITI Aayog.
The meeting will also be attended by Finance Minister Nirmala Sitharaman
Minister of State for Finance Anurag Thakur, NITI Aayog Vice Chairman Rajiv Kumar and NITI Aayog Chief Executive Officer (CEO) Amitabh Kant.
Apart from these, the meeting will also feature top economists and experts Arvind Panagariya, KV Kamat, Rakesh Mohan, Shankar Acharya, Shekhar Shah, Arvind Virmani and Ashok Lahiri
According to an official
“The Prime Minister will hold a meeting with economists on Friday and will take suggestions from them on the upcoming budget.”
It is known that the general budget will be presented on February 1, 2021. Meanwhile, the National Statistics Office (CSO) has projected a 7.7 per cent decline in the Indian economy
in the current financial year in the first advance estimate of national income released on Thursday.
In this estimate, the Covid-19 epidemic has been attributed to the main reason for the contraction in the Indian economy.
According to NSO data, in the current financial year, almost every sector except agriculture sector saw contraction.
The manufacturing sector is projected to contract 9.4 per cent in the current financial year,
almost flat with a growth of 0.03 per cent in the year-ago period.
The agriculture sector is projected to grow at 3.4 percent in FY 2020-21. However,
it is estimated to be lower than the four percent of FY 2019-20.
According to the NSO estimates, a significant contraction in services related to mining, trade,
hotels, transport, communication and broadcasting is projected in the current financial year.
The country’s economy saw a contraction of 23.9 per cent in the first quarter of the current financial year and 7.5 per cent in the second quarter.
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