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Covid-19: why budget must be starting point for picking up pieces

Jan 31, 2021 22:38 IST

This budget, economists and experts say, will be the starting point for picking up the pieces after the economic destruction caused by the Covid-19 pandemic. Most economist say it has to be a vision statement, a roadmap to get the world's fastest-growing major economy back on track. And it must go beyond being just a 'bahi khata' or a ledger of accounts, as well as canning old schemes in a new bottle. There is a larger consensus among economists that the annual GDP for FY21 will decline by 7-8 per cent, one of the weakest performances among the developing nations. There are two primary objectives before the government at this stage – reignite the growth engine in the economy while committing itself to a medium-term fiscal consolidation path.

National