This year’s Union Budget has raised the sectoral cap in insurance. But a favourable regulatory environment is necessary for some other sectors which have huge potential for growth.
While there is an expansion in fiscal deficit in the near term, the Budget does well to outline a path to fiscal consolidation once normalcy in economic activity is restored.
As a fiscal roadmap to reinstate and revive India’s economic recovery, the spending oriented Union Budget 2021 comes across as an exercise in prudence.
The Budget has the potential to push growth with its big spending plan. All eyes will be on RBI to see how it supports the government’s efforts when it unveils its monetary policy on February 5.
The Union Budget 2021 understands that for India to become the third-largest economy in the world, scientific research and innovation requires a policy boost.
With the government providing an impetus for manufacturing in the Union Budget 2021-22, companies such as Zetwerk—a B2B manufacturing platform—are likely to reap the benefits.
