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‘Will accelerate recovery, give direction': NITI Aayog CEO lauds 'superb' budget
Terming the Budget "very practical, rational and progressive", he said it was most important to note that the taxes were not tampered with and no new were imposed.
NITI Aayog CEO Amitabh Kant hailed the Union Budget 2021-22 on Monday and said it would not only heal India of the brunt of Covid-19 but also provide a direction to the country for the next three to four years. Focus on infrastructure and asset monetisation in the budget was proof that the government was planning to include the private sector in the process of development in the long run, Kant said.
"Superb Budget. It'll not only accelerate us in pre-Covid period recovery stage but also provide a direction for 3-4 yrs. The government focussed on infrastructure and asset monetisation this time. Shows the government's thinking that it's essential to involve the private sector in the long run," he said.
Terming the Budget "very practical, rational and progressive", he said it was most important to note that the taxes were not tampered with and no new were imposed.
Also Read: 'We have spent and we have spent', says Nirmala Sitharaman
Amid the coronavirus pandemic, finance minister Nirmala Sitharaman on Monday presented her third Union Budget. In the first-ever digital presentation of the budget, another departure from the norm was the mention of the word 'privatisation' in Sitharaman's speech several times.
The government has decided to privatise most central public sector enterprises (CPSEs), Sitharaman said. Firms will be privatised in sectors other than atomic energy, space and defence; transport and telecommunications; power, petroleum, coal and other minerals; and banking, insurance and financial services, she said.
The finance minister said that a Development Finance Institution (DFI) would be set up, allowing large-scale asset monetisation, and allocated ₹1.08 lakh crore for building highways. "We chose to spend big on infrastructure which spans across roads, power generation, bridges, ports and so on," she said.
Along with the expansion of National Infrastructure Pipeline (NIP) to include 7,400 projects, the setting up of ‘National Monetisation Pipeline’ was announced to raise finances for upcoming projects.
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Congress leader Rahul Gandhi, however, slammed the privatisation proposals. "Forget putting cash in the hands of people, Modi Govt plans to handover India's assets to his crony capitalist friends," he said.
Congress leader Adhir Ranjan Chowdhury also expressed concern over the lack of unprecedented measures for the unprecedented times in the Budget and criticised the government for having taken the "route of privatisation".
"But this is an ordinary Budget in unprecedented times through which the government wants to save itself by taking the route of privatisation. There are elections in some states so they made a road for the vote. They spoke of spending money but we received no grant. We had expected they would transfer cash to help the poor but nothing happened. Disinvestment, privatisation-Govt thinks that country should be put on sale," he said.
