Finance Minister excited to present upcoming Budget

With less than two months to go for the presentation of the Budget for the next fiscal year, Finance Minister Nirmala Sitharaman has said that the upcoming Budget would be a ‘Budget like never before’.

Enlisting healthcare, infrastructure and livelihood as focus areas, the Finance minister said that support needs to be given to sectors that have been disrupted and sectors that could be newer engines of growth.

Speaking at the Confederation of Indian Industry (CII) Partnership Summit via video conferencing she asked industry leaders to send their ideas and suggestions for the Budget. “Send me your inputs so that we can see a Budget which is a Budget like never before, in a way. 100 years of India wouldn’t have seen a Budget being made post pandemic like this. And that is not going to be possible unless I get your inputs and wish list, clear observation of what has put you through the challenge…without that, it is impossible for me to draft something which is going to be that Budget like never before, a Budget which is being made after a pandemic,” she said.

The Finance Minister said that investment in health and infrastructure is going to be absolutely critical, while livelihood challenges would have to be seen in a newer canvas. “Capacity to build hospitals, building capacities, skills to handle telemedicine and soft capacities will be required. We in India are fortunate to have vaccine capacities to produce as much as we need and for exports for humanity’s sake,” the finance minister said, adding that health expenditure needs to be predictable.

She further said that workforce participation of women needs to be looked at adding that since in the coming years, nearly 60 per cent of the country’s population will be below 30 years, it is important to provide the right kind of vocational skills and skills to them.

Asked about the significance of Aatmanirbhar Bharat, The FM stated that it does not mean that India is shutting itself, but instead for some areas where the country has capacities, there can be linking with the global value chain while imports are going to continue unabated.

She said an example of Aatmanirbhar Bharat is being seen in the country’s capacity to produce vaccines for the Covid-19 pandemic. Tele-medicines will also need a greater level of understanding and greater skills to handle, she said.”