New Delhi: Prime Minister Narendra Modi on Friday said that this budget session is key to India's future. He also added that this decade is very important for the bright future of India. A golden opportunity has come before the nation to fulfil the dreams seen by the freedom fighters.
"This is the Budget Session. For the first time in India's history, in a way, the Finance Minister had to present 4-5 mini budgets in 2020 in the form of different packages. So this Budget will be seen as a part of those 4-5 mini budgets, I believe this," he added.
In a special address at the World Economic Forum's online Davos Agenda Summit, yesterday, Prime Minister Narendra Modi said he wants to assure the global business community that situation will now change rapidly on the economic front also and invited businesses from all over to participate in the country's growth journey.
Bankers and economists expect finance minister Nirmala Sitharaman to announce a Rs 35,000 to Rs 40,000 bank recapitalisation plan in the Union budget as the non-performing assets or bad loans are set to rise due to the economic slowdown caused by the COVID-19 global pandemic.
Indian economy is likely to shrink by nearly 8 per cent in the current fiscal according to the first advance estimate of GDP growth released by the government.
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