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After FM, Madhya Pradesh CM Invites Suggestions For State Budget Promising 'inclusions'

Ahead of the state budget session, Madhya Pradesh CM Shivraj Singh Chouhan, on Thursday, announced that the new Budget will comprise suggestions from citizens

Madhya Pradesh

Ahead of the state budget session, Madhya Pradesh CM Shivraj Singh Chouhan, on Thursday, announced that the new Budget will comprise suggestions from the citizens. Chouhan urged citizens to send suggestions to the MP govt portal, promising to include them in the budget. The Madhya Pradesh budget session will commence soon in February-March.

Finance Minister Nirmala Sitharaman promises 'never before' like Union Budget

Shivraj Chouhan: "Budget suggestions for MP"

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Union Budget seeks suggestions

In December, Union Finance Minister Nirmala Sitharaman promised a "never before" like Union Budget as the government looks to steer the pandemic-battered economy and push growth. "Send me your inputs so that we can see a Budget which is a Budget like never before, in a way. 100 years of India wouldn't have seen a Budget being made post-pandemic like this," said Sitharaman while addressing the CII Partnership Summit 2020. The Union Budget for 2021-22 is scheduled to be presented in Parliament on February 1, 2021 in the 2-part Budget session on February 1-15 and March 8- April 8, following COVID-19 protocols.

India's GDP to contract by 7.7% for FY 20-21 estimates Centre; hit by year-long pandemic

India's GDP to contract by 7.7% in FY 20-21

Earlier in the day, the Ministry of Statistics & Programme Implementation, estimated that India's GDP will be -7.7% for FY 20-21 - lowest till date. In comparison, India's overall FY 19-20 GDP stood at 4.2% - an 11-year low. As per the National Council for Applied Economic Research (NCAER), India is set to see a marginally positive 0.1% growth in the third quarter. Previously in December, India's GDP contracted at -7.5% - plunging the nation into recession with two successive quarters of contraction.

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NCAER adjusted its forecast as per the ongoing fiscal to -7.3% compared to -12.6% in September to account for the sharp moderation in contraction in the second quarter at -7.5%, as per reports. Indicators across industry and services like the goods and services tax (GST) collections, GST e-way bills, Index of Industrial Production and Purchasing Managers’ Index have moderated the pace of recovery after the September-October uptick, said Bornali Bhandari, in its mid-year review of the economy. Fitch Ratings, on the other hand, has raised India's GDP forecast to -9.4 per cent in the current fiscal year to March 2021 from a previously projected contraction of 10.5 per cent.
 

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