Bhubaneswar (Odisha) [India], February 1 (ANI): Biju Janata Dal (BJD) leader Amar Patnaik shared his insights on the Union Budget 2025, and emphasised the tough circumstances under which it is being prepared.
Speaking to ANI, Patnaik expressed concerns over the upcoming Union Budget 2025, noting the difficult economic climate in which it is being prepared.
“The Budget this time is getting prepared under different circumstances, compared to the previous year. I think the economy is slowing down. The global geopolitical situation has resulted in several economic stresses for countries like India and they will probably persist for some time,” Patnaik said.
He warned that rising protectionist policies globally could further hinder India’s economic performance. “Protectionist policies may also keep on increasing which means exports will go down, imports will increase and therefore, there will be an impact on GDP,” he stated.
Patnaik highlighted the key issues affecting the daily lives of citizens, stressing that these problems need urgent attention in the Budget. “The three critical issues which are really plaguing our citizens – price rise, unemployment, consumption expenditure are coming down,” he noted.
“So these needs will be addressed in the Budget by appropriate policy measures and allocations,” he continued.
Despite the challenges, Patnaik said that the government’s response would need to strike a balance between growth and addressing urgent social issues. “Under these circumstances, the FM would be having a tough time in giving a Budget which is growth-oriented,” he said.
Finally, Patnaik pointed to the importance of attracting private investment to help stabilise the economy. “The way forward is to attract private investment,” he concluded, signalling the need for long-term structural reforms to foster growth in a tough global environment.
Customarily, President Droupadi Murmu on Saturday offered ‘dahi-cheeni’ (curd and sugar), as it is considered auspicious, to Union Finance Minister Nirmala Sitharaman ahead of presenting her eighth Union Budget.
This gesture for good luck was done during the Finance Minister’s visit to President Murmu at Rashtrapti Bhavan.
Minister of State for Finance Pankaj Chaudhary was also present on the occasion. The Finance Minister was seen discussing the contours of the Budget proposals with the President.
Nirmala Sitharaman will present her record eighth consecutive Budget on Saturday at 11 am in Lok Sabha. The Budget speech will outline the government’s fiscal policies, revenue and expenditure proposals, taxation reforms, and other significant announcements.
Meanwhile, the Economic Survey tabled in Parliament on Friday, projected India’s economy to grow between 6.3 per cent and 6.8 per cent in the next financial year 2025-26. (ANI)
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