Budget 2021 Expectations: Rebound in sight?
All eyes are on the upcoming budget for the next financial year as India looks to recover from the disaster caused by the coronavirus pandemic 2020-21. The government has already started consulting stakeholders and industry experts ahead of all important annual budget announcements for 2021-22. The budget for the next fiscal year will be announced by the Finance Minister Nirmala Sitharaman on February 1, 2021.
A few days ago, finance minister Nirmala Sitharaman promised a budget like ‘Never before’ indicating that the government is set to take difficult steps required to boost the damaged economy.
Focus on Agriculture Reforms
As the Farmer protest continues, with no sign of end to that impasse between incensed farmer and a determined centre one thing is clear. Unlike in the past, when agriculture got not much, this time round, Finance Minister, Nirmala Sitharaman will take care to ensure the Budget sends the right message: that this is a government that cares for farmers and farmer welfare.
About time, too. Though the government has stuck to its declared goal of doubling farmers’ income by 2022, a promise repeated by Finance Minister, Nirmala Sitharaman in her budget speech last year, it was apparent, well before Covid-19 hit us, that the government would not be able to deliver. The problems of the agriculture sector go much deeper. The pandemic has only made the promise more distant.
Health Care expenditure boost
The coronavirus pandemic exposed gaps in India's health care system, which was overcome as cases of covid rose quickly in Country. Over 1.5 lakh people died in the country due to the COVID-19 pandemic and many of them died as they did not receive treatment on time.
Shortage of beds and ventilators made headlines often during pandemic hit 2020. Therefore this year's budget is widely expected to focus on improving the country's health system, especially in the rural areas.
Many experts have sought an increase in public health expenditure towards pharma research and disease surveillance is also expected in the work of the pandemic.
