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NATION                                                                February 05, 2021  |        The Indian Eye                          8

             govt claims the budget has put india on a

                                new path of V-shaped recovery

                   India would become a USD 5 trillion economy, says Anurag Thakur;

                           S Jaishankar talks about a 11 % growth in the current year

        Our Bureau                                                                                                    here, Thakur said India and
                                                                                                                      other countries faced economic
        New Delhi                                                                                                     slowdown due to lockdown and

               inance  Minister  Nirmala                                                                              other measures taken to contain
               Sitharaman said on Thurs-                                                                              the spread of the pandemic. “But
        Fday that the union budget                                                                                    India stood strong. The econo-
        presented earlier this month                                                                                  my is witnessing a V-shaped re-
        marks a clear directional change                                                                              covery,” he said.
        for the Indian economy and                                                                                        He said the union budget
        seeks to raise non-tax resources                                                                              presented earlier this month will
        at a time when the country needs                                                                              give  a  boost  to  various  sectors.
        a lot of money to spend.                                                                                      “The recent budget has no new
            Addressing FICCI’s national                                                                               taxes on the people of this coun-
        executive committee meeting via                                                                               try,” he said, adding that Modi
        video conferencing here today                         finance Minister Nirmala sitharaman                     Government “is development-
        she said infrastructure, health                                                                               driven”.
        and agriculture were three large                                                                                  He said all sections of people
        areas where big-ticket expendi-                                                                               have appreciated the budget ex-
        ture will happen. “This budget                                                                                cept the opposition parties. The
        marks a clear directional change                                                                              minister  said  that  the  revised
        for the Indian economy and that                                                                               estimates (RE) 2020-21 for ex-
        directional change is not what                                                                                penditure is 34.50 lakh crore
        the government has offered as                                                                                 as against budgetary estimates
        a sudden response, but it was                                                                                 (BE) 2020-21 of 30.42 lakh crore.
        something that was preoccupy-                                                                                     External Affairs S Jaishan-
        ing the Indian minds for over 30                                                                              kar said on Saturday that the
        years,” she said.                                                                                             country is expected to see 11 per
            “It’s a budget which raises                                                                               GDP cent growth in the coming
        resources but  not  on  the back                                                                              year. Addressing a press confer-
        of increased taxation. There is a                                                                             ence here, he also said Andhra
        directional change in the budget             Anurag Thakur with Nirmala sitharamanon the budget day           Pradesh will get the kind of sup-
        which is so distinct that it will fuel                                                                        port it needs to open up possi-
        the entrepreneurial spirit which  participate in this inevitable ex- market-driven  way.  “That  itself  bilities in sectors such as manu-
        the Indians show given the right  ercise. Industry, having cleared  will bring in efficiency.”                facturing, food processing and
        opportunities,” she added.           all its debts and finances, should      The  government,  she said,  agriculture. “Our expectation is
            The Finance Minister said  now be in a position to invest  has  taken  a  confident,  trust- that we’ll get double-digit 11 per
        the government has not bur- money to expand and grow and  worthy and transparent account- cent plus growth in the coming
        dened any section of Indian soci- clearly show signs that it is now  ing statement in the budget.             year. The issue for us is between
        ety “with any additional demand  ready  to  receive  any  joint  ven-        According  to  an  official  re- corona recovery and economic
        for even an additional rupee”.       tures for the sake of technology  lease,  FICCI  President  Uday  recovery, what is the future di-
            The minister said the gov- that it prefers to have,” she said.       Shankar said the most satisfying  rection we should be going. This
        ernment is confident that it will       The minister said the govern- aspect of this budget is that they  time, it was clearly indicated by
        be bringing in non-tax revenue  ment alone, even if it brings bags  “did not see much tinkering of  the budget,” he said.
        other than just disinvestments  full of money, cannot just meet  taxes” and this adds to policy cer-              He said that development
        through various other monetiza- the demand of the growing and  tainty and investor confidence.                of Andhra Pradesh will also be
        tion of assets. She urged the in- aspirational India,”                       Meanwhile, Minister of State  boosted by multiple corridors
        dustry to come forward to make          Referring to Development  for Finance Anurag Thakur said  passing through it.
        investments.                         Financial Institutions (DFI),  on Saturday that the Indian econ-             “Andhra Pradesh will get the
            “I hope the industry will un- Sitharaman said the government  omy is witnessing a V-shaped re- kind of support it needs to open
        derstand the spirit with which the  will enable one DFI and the en- covery after challenges posed by  up its possibilities, whether in the
        budget is placed before you and  tire financing of long-term infra- COVID-19 pandemic.                        field of manufacturing, food pro-
        therefore also come forward to  structure will  happen  in  a  very          Interacting  with  the  media  cessing, or agriculture,” he said.

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