Budget: ‘Govt is facilitator, pvt sector driver of growth’


Team Udayavani, Feb 21, 2021, 3:51 PM IST

Bengaluru: Finance Minister Nirmala Sitharaman on Sunday said the Union Budget 2021-22 is about the role of government as a facilitator and the private sector as a key driver of economic growth, without which the country would be losing a big opportunity.

The most important component or input required here is the participation of the private sector. Unless the private sector is energised enough, unless the private sector is facilitated enough, India is just losing a very big opportunity, she said here during an interactive session organised by the Bangalore Chamber of Industry and Commerce.

Sitharaman underlined that the nation’s growing and aspiring needs and demands across the various sectors cannot be served just by the state government and central governments put together.

According to the Finance Minister, the coronavirus vaccine was a big example of government-private partnership.

To be a world leader with that specific India touch, which is more humane, which is more about bringing everybody together, which is peaceful, which actually wishes that the world progresses for everybody’s good,” she told the gathering.

”If that is the way India approaches its responsibility, that will be incomplete unless the government plays the role, it is expected to play the facilitator and unless the private sector plays the role of a key driver. So thats the message this budget has talked about, the Finance Minister said.

Sitharam said the Budget was about setting the path for the decade.

She pointed out that the stimulus package, which largely depended on the government’s borrowing, was aimed at sectors which provided the multiplying effect such as infrastructure, the budget funding, where public expenditure was going to be undertaken.

She said the government has clearly funded stimulus with the borrowed money, and was aware of fiscal management.

Debt to GDP, another indicator which is important for a healthy economy, has to be carefully managed in such a way that sooner in a sense, in a reasonable timeframe, the fiscal deficit will also be kept under the healthy level and not let unattended for decades together, Sitharaman said.

The Finance Minister said the government wanted uninterrupted yet sustainable growth.

The event saw a galaxy of tycoons and industry leaders such as Wipro founder Azim Premji, former director of Infosys T V Mohandas Pai, noted cardiac surgeon Dr Devi Prasad Shetty and president and chairman of Volvo Group India Kamal Bali Premji, in his speech, emphasised on taking along the private sector in the COVID-19 vaccination drive to speed up the inoculation process whereas Pai said the nation wants the companies to set up their industries within the country instead of becoming a digital colony.

He also suggested giving away tablets to the children from weaker sections so that they were not left out in the ‘Digital India’ mission.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

23-yo stabs friend for not buying beer for him in B’luru

Three women killed in stampede outside Khatu Shyam temple in Rajasthan’s Sikar

“Orange Alert” for coastal areas; Fishermen warned not to venture into sea

Puttur: Teenager’s death due to fall – Father of the boy requests comprehensive probe

Money laundering case: ED to produce Sanjay Raut before special court in Mumbai

PM Modi lauds CWG winners, says first medal in cricket will always be special

Srikanth, Gayatri-Treesa win bronze medals; Sindhu, Sen one step away from maiden gold


Related Articles More

“Orange Alert” for coastal areas; Fishermen warned not to venture into sea

Puttur: Teenager’s death due to fall – Father of the boy requests comprehensive probe

Belagavi: Holiday declared for schools on Monday after leopard sighting in city

Karnataka reports 1,837 new COVID-19 cases, four deaths

Praveen Nettaru case: Police arrest two more persons

MUST WATCH

NEWS BULLETIN 08-08-2022

Commonwealth Games medal winner Gururaj Poojari Grand welcome in Udupi

Mysuru Dasara 2022: Gajapayana flagged off from Nagarahole National Park

Road Covers Flood water at teerthahalli

Health, Earth, & We Can All Be Well With Natural Fertilizer |


Latest Additions

23-yo stabs friend for not buying beer for him in B’luru

Three women killed in stampede outside Khatu Shyam temple in Rajasthan’s Sikar

Shah arrives in Odisha on two-day visit

“Orange Alert” for coastal areas; Fishermen warned not to venture into sea

‘Harry Potter’ actor Chris Rankin engaged to longtime girlfriend

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.