Prime Minister Narendra Modi will interact with some of the economists and sectoral experts on Friday. This meeting is scheduled to deliberate on measures that may be included in the upcoming budget. The meeting is organised by Niti Aayog, which is supposed to be held virtually and will also be attended by Niti Aayog Vice Chairman Rajiv Kumar and Niti Aayog CEO Amitabh Kant. The upcoming Union Budget is likely to be presented on February 1, 2021.
The Prime Minister will meet economists to seek their inputs for the budget. We know the economy is recovering very fast, better than expected lines. The September quarter results have given the testimony for the days to come. The numbers indicate that a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent. The country’s economic growth stood at an estimated 4.2 per cent in 2019-20. According to the Reserve Bank of India economy is projected to contract 7.5 per cent in the current fiscal ending March 31, 2021, while the International Monetary Fund and World Bank estimate the contraction at 10.3 per cent and 9.6 per cent, respectively.