Ahead of the Union Budget 2021, which will be presented by Finance Minister Nirmala Sitharaman on February, Federation of Automobile Dealers Associations (FADA), President, Vinkesh Gulati said the Indian automobile industry is a barometer of the Indian economy and its revival will in turn pull up the economy.
As it is going to be the first budget during the pandemic, various sectors in the industry are hoping the forthcoming budget will considerate the impact the coronavirus pandemic had on different businesses. Let's take a look at some voices from the industry and their expectations from the upcoming budget.
Inker Robotics, a leading robotics company in India, has made an indigenously developed humanoid robot named Alton, which has forwarded a request to Finance Minister Nirmala Sitharaman ahead of the Union Budget.
As the country's fight against Coronavirus reaches the next level with the launch of the world's largest vaccination programme, the government proposes to launch new Covid bonds to finance the rising pandemic relief expenses.
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman.
The new bill has been titled as ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’. The Centre is looking towards the introduction, consideration, and passing of this bill.
Electric Vehicle Industry in India: Experts feel that the time has come for the Modi government to push for the adoption of EVs as, according to an estimate, India will become the fourth largest market for EVs by 2040.
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it.
Amid raging protests over new farm laws, the government's pre-Budget state of economy document on Friday went the extra mile to list benefits of the three contentious laws, saying that besides giving market freedom, they will help raise incomes of small and marginal farmers.
India has emerged as one of the largest countries for flexi-staffing or gig and platform workers, as e-commerce platforms created massive opportunities amid the pandemic, according to the Economic Survey 2020-21.
As per earlier schedule, the session was to go on a recess after meeting on February 15, a Monday. Now, at least Lok Sabha would meet on February 13, a Saturday, before being adjourned to meet again on March 8.
The Economic Survey reaffirms that the worst is behind us and the economy would bounce back with a V-shaped recovery after being hit hard by the COVID-19 pandemic, India Inc said on Friday.
Onion prices had skyrocketed to as high as Rs 100 per kg in the retail markets few months back, forcing the government to ban exports, allow imports and impose stock limits. The exports curbs have been lifted now with softening of prices.
The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it.
The document which was tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha in its debt simulations for worst-case debt analysis assumed the contraction at (-) 7.7 per cent.
Its house economists expect these spends to be funded by debt and partly by imposing a cess on high income groups and also by some non-fiscal measures like tapping the central bank's revaluation reserves and bank recapitalisation and infra bonds.
Finance Minister Nirmala Sitharaman will table the Union Budget 2021-22 in the parliament on February 1 i.e, on Monday.
President Ram Nath Kovind highlighted the government's plan and policy vision for the next financial year in his speech. He also highlighted the work carried out by the government in the past years.
The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
Nirmala Sitharaman is all set to present the Budget 2021 on February 1. This year, February 2 (Friday) will mark the beginning of the Budget Session of the Parliament.
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