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goi: Invest, GoI, to boost momentum - The Economic Times

goi: Invest, GoI, to boost momentum - The Economic Times
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View: Reviving growth should be the main focus of Budget 2021


The primary objective that Finance Minister Nirmala Sitharaman will have in mind when she drafts her budget this year would be reviving growth, after a GDP decline of some 7.5% forecast for 2020-21. A secondary objective would be to provide relief to those still suffering from the ill-effects of the downturn in the wake of the Covid-19 pandemic and the lockdown that followed. While doing this, she would also have to begin the process of fiscal correction, to rein in the fiscal deficit that went out of control as the economy tanked, dragging tax collections along.
The challenge of organising nationwide vaccination against the novel coronavirus, as also fortifying the nation’s healthcare infrastructure, is an opportunity for growth-boosting investment. Strengthening rural health centres with cold storage facilities, even if that is just an ordinary refrigerator, which is adequate for the Oxford-AstraZeneca vaccine that will be mass produced and supplied by Pune-based Serum Ins ....

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