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Nirmala Sitharaman promises support for business sectors affected during pandemic


LAST UPDATED: Dec. 19, 2020, 3:50 p.m.

NEW DELHI (DIVYA SAINI): Finance minister Nirmala Sitharaman has promised on friday to invest more to strengthen India’s health infrastructure and support the industries in the Union budget for the year starting April 1 which were affected during the COVID- 19 pandemic.

Sitharaman’s emphasised on spending on healthcare and industries such as hospitality and aviation indicate. She said “Investment in health is going to be absolutely critical, not just to make lives safer but also to make health and health-related expenditure more predictable for people and not to do it out of pocket.”

“Support has to be extended to sectors that got disrupted badly and support to which are now going to be centres of newer demand and newer engines of growth. We need to fuel that engine and run that engine as fast as possible,” the minister added.

The Centre Government has so far announced three stimulus packages amounting to Rs 25 lakh crore. Finance Minister Sitharaman said “We will be a country where 60% of population is going to be under 30 years of age, which is a blessing, and we have to provide them with the right kind of skills. Vocational training has to be given with a new perspective,” she said.

Economic affairs secretary Tarun Bajaj on Friday said that he is hopeful of the Indian economy getting back on track soon.

Bajaj said “From May when covid had hit us to December seems like a long journey. In May, we didn’t know where we were heading. The revenues were absolutely down. We didn’t know how the virus will hit the country with a population of 1.3 billion people. For the third and fourth quarters, I would not like to quote anybody else but my own central bank. They have recently come out with the projection of slight positive growth both in the third and fourth quarters.”

Image credits: Google

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