-Livemint.com * The Union minister said that industries in village and Khadi generate as much as Rs.88,000 crore on an annual basis * So that the rural poor are benefited, he said the government's aim is to increase the contribution of the MSME sector to 40% from 30%, stating that there are 6.5 crore units Nitin Gadkari, Union Minister for Micro,Small & Medium Enterprises (MSME) and Road Transport & Highways, has suggested to...
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Expenditure secy: Chose capex over handouts, will trigger growth -Aanchal Magazine
-The Indian Express Somanathan said the government is trying to reach the target group of unskilled and semi-skilled workers through increased government expenditure in the construction sector. Working with a “constrained resource envelope” in the aftermath of the Covid-19 pandemic ahead of Budget 2021-22, the government essentially had to make a choice between two policy options: handouts and capital expenditure. “We chose capex,” TV Somanathan, Expenditure Secretary, Ministry of Finance, told The...
More »Is the Budget’s infrastructure push green? -S Gopikrishna Warrier
-MongabayIndia.com * The main focus of the Union Budget for 2021-22 is on infrastructure development-led growth. * This is expected to create a demand in the economy and thereby help it recover after the pandemic crisis. * This commentary explores whether the thrust on infrastructure development will lead to adverse environmental consequences. * The views expressed in this commentary are that of the author. Investment in infrastructure is the most important focus area in the...
More »Budget 2021-22: Over-reliance on infrastructure investment to spur growth? -Sarmistha Pal
-IdeasforIndia.in Commenting on the strong infrastructure push in the 2021-22 Budget, Sarmistha Pal argues that an emphasis on investment in infrastructure may not necessarily bring India out of the current economic recession – with the Budget’s negligence of the education sector and insufficient health expenditure, making matters worse. The 2021-22 Union Budget, announced on 1 February 2021, made a definitive turn to the right as it turned its back on providing any...
More »Fiscal transparency jacks up ‘expenditure’ numbers in the Union Budget 2021-22
In order to understand why the Union Budget 2021-22 is being termed as ‘transparent’, it has to be read simultaneously with the 15th Finance Commission Main Report for 2021-26. But first, let us discuss 'fertilizer subsidy'. The budget documents for Union Budget 2021-22 show that the spending on ‘fertilizer subsidy’ was slashed from Rs. 1,33,947 crore in 2020-21 (revised estimate) to Rs. 79,530 crore in 2021-22 (budget estimate). However, the budgetary...
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