Budget 2022 Expectations: Measures to ensure 7-7.5% growth must be announced; employment, healthcare need special attention: Alankit MD Ankit Agarwal

Union Budget 2022: Government should remain focused on devising a robust growth map in order to recover from all the collateral damages caused by COVID-19, Ankit Agarwal, Managing Director, Alankit opines. Budget 2022 must emphasise on measures to ensure a minimum 7-7.5 per cent growth for the country with realistic and achievable revenue targets, he said.

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“This will further help us utilise extra revenue to build more assets," he further said.

Union Minister of Finance Nirmala Sitharaman will be presenting the Union Budget on February 1, 2022.

Government’s focus in previous budget announcement  was on health and rural infrastructure development. The Omicron variant of COVID-19 has raised concerns amid the economic recovery in the economy.

Agarwal said that certain sectors could see a special focus in the upcoming budget speech:

He further points out that a majority of the nation's consumers and small independent companies and businesses are anticipated to take on advanced digital means to access financial services and payments. As a result, a requirement for a more engaged methodology towards supporting the development and ensuring client confidence is estimated.

Employment

Employment is one area that the upcoming budget should focus on, feels Agarwal. He said, "Budget 2022 needs to focus on job creation, both by private and government participation in sectors that have higher backward and forward economic integration."

Healthcare

With the COVID-19 pandemic still going on, the Government must allocate a significant amount of resources towards healthcare since the major chunk of the populace is yet to be vaccinated. Moreover, as the new variant of Coronavirus ‘Omicron’ has made its presence felt in India as well at a much higher rate than expected, it is imperative for the Government to see a roadmap to be laid ensuring 100 per cent healthcare coverage to all the citizens.