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Economic Survey to be tabled today
Parliament’s Budget session kicks off on Friday, beginning with the tabling of the Economic Survey for this year. The Union Budget, which Finance Minister Nirmala Sitharaman has said will be ‘one like never before’ in the midst of the COVID-19 pandemic, will be presented on Monday.
Rating agencies expect the government to factor in a wider deficit for the coming year in order to give the economy a fiscal stimulus to emerge faster from the pandemic’s effects. A key factor in the fiscal calculations for 2021-22, will also be the government’s stance on the recommendations of the Fifteenth Finance Commission.
The Commission’s report on devolution of finances between the Centre and States for the coming five years is expected to be tabled along with the Centre’s Action Taken Report on its recommendations. The Commission, led by N.K. Singh, had submitted its report to the President on November 9.