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The Union Budget 2021 is intended to give a directional change to the country by empowering the private sector, said Finance Minister Nirmala Sitharaman.
In a post-budget interaction with the Bangalore Chamber of Industry and Commerce (BCIC) on Sunday, she said, “Vaccine is a classic example. Here the private sector in India stood up to strengthen the soft image of the country as a Global Friend. Today, we have sent vaccines to more than 100 countries.”
“The country has also sent a clear message in vaccine development, research, scaling up of production depending on the demand which is now expanding by the minute, this shows inherently what India can contribute, when private sector with support from government come together to address life saving approach and intervention,” the Finance Minister said.
“India’s growing and aspiring needs and demands across various sectors cannot be served just by a government or even by both the central and State governments put together,” she added.
Sitharaman further said, “The most important component or input which is required here is the participation of the private sector, unless the private sector is energised and facilitated enough, India is losing a big opportunity.”
Sitharaman said, “India’s vaccine development has led us to be a world leader. That specific India touch, which is more humane and which is bringing everyone together, which is peaceful and which actually wishes that the world progresses for everybody’s good. That is the way India approaches its responsibility.”
The Finance Minister referring to the budget said, “It will be incomplete unless the government plays the role, it is expected to play as a facilitator and unless the private sector plays its role of a key driver.”
That is the message this Budget has brought about, this budget is not only for this year but a Budget for setting the path for the decade, a budget of course for both this year and next year because the stimulus package which is largely dependant on government’s borrowing is aiming at sectors, which provide the multiplier effect, such as infrastructure, project funding, public expenditure going to be undertaken so that co-sectors can also be the trigger through which benefit the economy.”
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