Budget: 'Govt is facilitator, pvt sector driver of growth'

Bengaluru, Feb 21 PTI Finance Minister NirmalaSitharaman on Sunday said the Union Budget 2021-22 is aboutthe role of government as a facilitator and the privatesector as a key driver of economic growth, without which thecountry would be losing a big opportunity.The most important component or input required here isthe participation of the private sector.

Bengaluru, Feb 21 (PTI): Finance Minister NirmalaSitharaman on Sunday said the Union Budget 2021-22 is aboutthe role of government as a facilitator and the privatesector as a key driver of economic growth, without which thecountry would be losing a big opportunity.

The most important component or input required here isthe participation of the private sector. Unless the privatesector is energised enough, unless the private sector isfacilitated enough, India is just losing a very bigopportunity, she said here during an interactive sessionorganised by the Bangalore Chamber of Industry and Commerce.

Sitharaman underlined that trhe nation's growing andaspiring needs and demands across the various sectors cannotbe served just by the state government and centralgovernments put together.

According to the Finance Minister, the coronavirus vaccinewas a big example of government-private partnership.

To be a world leader with that specific India touch,which is more humane, which is more about bringing everybodytogether, which is peaceful, which actually wishes that theworld progresses for everybodys good,'' she told thegathering.

''If that is the way India approaches its responsibility,that will be incomplete unless the government plays the role,it is expected to play the facilitator and unless the privatesector plays the role of a key driver. So thats the messagethis budget has talked about, the Finance Minister said.

Sitharam said the Budget was about setting the path forthe decade.

She pointed out that the stimulus package, which largelydepended on the governments borrowing, was aimed at sectorswhich provided the multiplying effect such as infrastructure,the budget funding, where public expenditure was going to beundertaken.

She said the government has clearly funded stimulus withthe borrowed money, and was aware of fiscal management.

Debt to GDP, another indicator which is important for ahealthy economy, has to be carefully managed in such a waythat sooner in a sense, in a reasonable timeframe, the fiscaldeficit will also be kept under the healthy level and not letunattended for decades together, Sitharaman said.

The Finance Minister said the government wanteduninterrupted yet sustainable growth.

The event saw a galaxy of tycoons and industry leaderssuch as Wipro founder Azim Premji, former director of InfosysT V Mohandas Pai, noted cardiac surgeon Dr Devi Prasad Shettyand president and chairman of Volvo Group India Kamal Bali Premji, in his speech, emphasised on taking along theprivate sector in the COVID-19 vaccination drive to speed upthe inoculation process whereas Pai said the nation wants thecompanies to set up their industries within the countryinstead of becoming a digital colony.

He also suggested giving away tablets to the children fromweaker sections so that they were not left out in the'Digital India' mission.