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FM Nirmala Sitharaman will present dressed-up revised estimates for 2020-21 in budget: Congress

At a press conference, former finance minister P Chidambaram also demanded that the government should make direct cash transfers to 20-30 per cent of the families at the bottom of the economy at least for a period of six months.

January 28, 2021 / 04:06 PM IST
P Chidambaram

P Chidambaram

Alleging that seven years of the Narendra Modi government have "wrecked" the economy and high growth prospects, the Congress on Thursday said it is afraid that Finance Minister Nirmala Sitharaman will present "dressed-up" revised estimates for 2020-21 in the upcoming Budget session of Parliament and attempt to build an attractive narrative for the coming fiscal year.

The opposition party demanded a large fiscal stimulus to the economy, asserting that such a step alone will put money in the hands of people and stimulate demand.

At a press conference, former finance minister P Chidambaram also demanded that the government should make direct cash transfers to 20-30 per cent of the families at the bottom of the economy at least for a period of six months.

He said the Congress believes that the reality is that the economy is in a recession, the recovery will be slow and painful, and the "rate of GDP growth in 2021-22 (in constant prices) will be modest -- no more than five per cent".