The Narendra Modi government will present perhaps its most important budget, a make-or-break budget so to speak, as the Indian economy recovers from an unprecedented global pandemic. For the full year 2020-21, GDP is likely to witness the first contraction in four decades.
It is in this backdrop that the budget will be presented, Finance Minister Nirmala Sitharaman has been the face of the government’s economic response to the pandemic and the economic slowdown, announcing the ‘Gareeb Kalyan’ and ‘Aatmanirbhar Bharat’ programmes. Sitharaman has promised that the upcoming budget will be of a kind never seen before, one where fiscal concern will be kept aside and there could be record public spending, with an objective of boosting demand and creating jobs. Tax specialists will share analysis on Direct and Indirect tax proposals and its impact on the Food processing sector.