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Budget Debate

Now debating: Tax cut a must to beat Covid consumption slump. Agree?

There are two ways to do a stimulus. Either GoI spends more, or it earns/spends less leaving more money to households and firms to spend/invest. It could also include cash transfers to the poor. Which of these ways should Nirmala Sitharaman's budget focus on more?

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Details on Budget

Faced with the surreal choice between saving lives and the economy, Budget 2021 has its task cut out. Finance minister Nirmala Sitharaman has promised a once-in-a-century kind of Budget, one that puts the Indian economy back on track. The coronavirus has brought in new concerns and a need for solutions, especially in healthcare. While the outbreak jolted the stock market in the first quarter of the year, a stimulus boost under Atmanirbhar Bharat made sure the indices did not disappoint. The biggest swing will now depend on how effectively a vaccine is rolled out for 1.3 billion people. Self-reliance is expected to be Sitharaman's catch cry for February 1. Prime minister Narendra Modi plans to make it the enabler of India's Big Reset for sectors hit hard by the virus such as tourism, transport, startups and reboot consumption. Experts feel one way to lift consumption is by leaving more money in the hands of the taxpayer. But this year is going to be different for those tracking income tax slabs. India, in all probability, is expected to come out of the woods when it unveils its growth numbers for the October-December quarter on February 26. Budget 2021 is expected to be the enabler of this comeback story.

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