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Business EYE February 12, 2021 | The Indian Eye 36

modi govt pitches $ 5 trillion

dream after budget

Union budget 2021-22 shows hope to build a new India and will lead the nation on the

path of becoming an economic and manufacturing powerhouse: Anurag Thakur

Our Bureau ic and manufacturing power-

New Delhi house. “This Budget shows
a hope to build a new India,
he reform measures an- a stronger India and to build
nounced in budget 2021- a self-reliant India. It will set
T22 will play a big role in us on the path of becoming an
India becoming a $5 trillion economic and manufacturing
economy and beyond, chief eco- powerhouse,” Thakur said in
nomic adviser K V Subramani- Rajya Sabha. Taking a jibe at
an said on Friday. He also said RJD leader Manoj Jha’s re-
the country’s economy is ex- mark “Aam budget ya khass
pected to grow at 15.5 per cent budget’ (Whether the bud-
in nominal terms in 2021-22 and get is for common people or
contract 1-2 per cent depend- for important people), Thak-
ing on what the inflation actu- ur said that the allocation for
ally might be for the year end- the benefit for the person with
ing March 2021. “The budget Union Finance Minister Nirmala Sitharaman speaks physical disabilities has been
2021-22 has laid the foundation in Rajya Sabha during a Budget session of Parliament, in New Delhi increased by 3 percent in the
for the $5-trillion economy... It on Friday. (ANI Photo/RSTV) current budget, whereas allo-
(reform measures announced in cation for the ‘Mission Sakti’
the budget) will play a big role inflation, then 15.5 per cent cent. According to Subramani- has increased by 16 percent.
in India achieving the $5 trillion GDP growth can be expected an, India has faced three crises In a veiled attack on Rahul
economy target and beyond,” in the nominal term for the after 1991 -- the Asian crisis Gandhi, Anurag Thakur on
he said at a virtual event. coming year (2021-22). (1997), the global financial cri- Thursday said the Congress
“This year, I think it (GDP sis (2007-08) and the Covid-19 leader was “not prepared” to
in 2019, Prime minis- growth) might be around (-) pandemic (2020). speak on the union budget. “
During the global financial
A senior MP was speak-
1 to 2 per cent depending on
ter narendra modi envi- what the inflation actually crisis, the then Manmohan ing before me, so I thought he
sioned making india a $5 might be for the year ending Singh government increased must be knowing the rules of
March of this year,” he said.
revenue expenditure and de- this House and that if one issue
trillion economy and a Subramanian pointed creased capital expenditure has already been discussed, it is
global economic power- out that every country in the which gave a push to the de- not discussed again. Secondly, I
world is facing lower eco-
mand side only and not the can understand that he was not
house by 2024-25. noting nomic growth because of the supply side, which resulted in prepared for Budget,” Thakur

that india’s potential rate Covid-19 pandemic. “But from high inflation, he said. said while participating in the
India’s perspective, in the Subramanian said Prime debate on the budget in the Lok
of growth is 6.5-7.5 per coming year, whatever growth Minister Narendra Modi’s Sabha. Gandhi, who also par-
cent, subramanian said momentum we have lost, we statement in the Lok Sabha is ticipated in the debate, spoke
would recoup that momen- a seminal moment in India’s only on the new farm laws.
the country must continue tum,” he asserted. Replying to economic history as the PM Thakur rejected Gandhi’s
to focus on growth. a question, the CEA said one talked about wealth creation allegations and said there is
and the salutary role of the no provision of closing mandis
public sector insurance com-
pany is going to be divested private sector. in farm laws. “This indicates
The CEA said the IMF has and this company will compete Also on Friday, Union the depth of their (Congress)
projected the country’s eco- with private sector insurance Minister of State for Finance knowledge and reading. They
nomic growth even higher than companies. Anurag Thakur said that the do not have the basic informa-
the Economic Survey’s growth He also expressed confi- Union budget 2021-22 shows tion,” he said.
projection at 11.5 per cent and dence that the government hope to build a new India and “Some people remain ab-
this is all on real terms. “So, will achieve next financial’s will lead the nation on the sent from the House as well as
if we include about 4 per cent fiscal deficit target of 6.8 per path of becoming an econom- the country,” he said.

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