Budget 2021 – EXCLUSIVE! PM Modi likely to meet FM Sitharaman, top economists on Friday; V-shape economic recovery high on agenda

Budget 2021: Prime Minister Narendra Modi will be having a meeting with top economists, Finance Minister Nirmala Sitharaman and top officials of NITI Aayog on Friday to brainstorm on the upcoming Budget 2021, Zee Business’ Chetan Bhutani reveals, citing top government officials in this exclusive report. 

The meeting will likely have deliberations on measures to be taken in the upcoming Budget 2021 to ensure a V-shape recovery in the economy, Bhutani said. Budget 2021 will be presented by the Finance Minister Sitharaman on 1 February. 

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The steps that should be taken to boost the recovery will also likely be the part of the discussion, he further said. The discussion will also be on the infrastructure investments for this financial year where the government will be discussing on how to raise funds, be it through asset monetisation or other sources. The third agenda will be on employment and growth improvement. 

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The time of the meeting has still not been disclosed by the sources, he said. 

Expert Ajay Bagga’s Budget 2021 expectations      

Bagga said that there is a big role of infrastructure in the growth and he added that the money multiplier which is four times in the economy is almost 8 times because of infrastructure. As an example he said that if Re 1 is spent on building roads than the benefits through the road account for Rs 8 in the economy. 

He said that sectors like construction which require low skill sets and are mass employers and are big contributors in economic growth. He cited textile as another major sector.  

He said that his expectations are that the budget will be populist and there could be some takeaways for the middle class.