Reportedly Finance Minister nirmala sitharaman on friday said that if required, the government would take more steps beyond the announcements made in the Union Budget 2020-21. Furthermore at an interactive session on 'Budget and Beyond' with professionals from asset management, wealth advisory, tax consultancy and other related industries, the minister also said the Budget 2020-21 was a budget where the impact on equity, bond and currency markets was positive.
Reportedly "If more has to be done beyond the Budget 2020, we are willing to do that," Sitharaman said at the session, where the participants made several suggestions to boost economic activities in the country. Apparently the government announced a host of steps in the Union Budget, presented on february 1 in parliament, to expand the economic activities at a time when the country is faced with demand slowdown due to several reasons.
Moreover the country's GDP growth is estimated to slow to an 11-year low of 5 per cent in the current financial year. Hence during the interactive session, participants made suggestions for increasing consumption, giving more money into the hands of consumers, measures required to boost liquidity and hosts of suggestions for the capital markets. Perhaps she said the finance ministry will provide details of the scheme soon. However, parliament approval will be required before the scheme is implemented.