Nirmala Sitharaman meets President ahead of Budget presentation
New Delhi, February 1, 2022
Finance Minister Nirmala Sitharaman and Ministers of State for Finance, Pankaj Chaudhary and Bhagwat Kishanrao Karad, and senior officials of the Ministry of Finance on Tuesday met President Ram Nath Kovind ahead of the Union Budget 2022-23 presentation.
The Cabinet is scheduled to meet at 10.10 a.m. to give its assent to the Budget Document. And all eyes are on the Finance Minister as to what she is going to give relief to the public and keep the growth engine going at the same time.
Union Finance Minister Nirmala Sitharaman tabled the economic survey, which said that India's economy is expected to grow at 8-8.5 per cent in the next fiscal.
According to the Survey 2021-22, with the building back of the economic momentum along with enhanced vaccination drive as well as the likely long-term benefits of supply-side reforms in the pipeline, the Indian economy is in a good position to witness GDP "growth of 8.0-8.5 per cent in 2022-23".
"Growth in 2022-23 will be supported by widespread vaccine coverage, gains from supply-side reforms and easing of regulations, robust export growth, and availability of fiscal space to ramp up capital spending.
"The year ahead is also well poised for a pick-up in private sector investment with the financial system in a good position to provide support to the revival of the economy."