Page 12 - NIS English 01-15,April 2023

Cover Story Budget Webinar

After the first general budget of the Amrit Kaal, before the onset of the monsoon. The post-budget
the Prime Minister addressed budget webinars webinar was a novel idea as another step toward
on a dozen subjects, so that the provisions of the better-implementing budget provisions.
budget could be fully implemented. The beginning It has generally been a convention that after
of this tradition may have started in 2021 during the the Budget, there is a discussion in the Parliament
Covid, but the importance of this year's webinar also regarding the Budget. But the central government
increases because India is now moving ahead with led by Prime Minister Modi has taken it a step
the resolution of becoming a developed nation in further and started a new tradition of intensive
2047. brainstorming with all the stakeholders before and
India's development journey can be understood after the budget. Its objective is to implement the
from the fact that despite the global crisis caused by budget announcements in a time-bound manner.
the Covid pandemic and the Russia-Ukraine war, the Prime Minister Modi is a seasoned politician
increase in the size of the country's budget to Rs 45 who has experience of more than two decades of
lakh crore reflects the fast-growing economy of India working as a head of government and that is the
even in the Covid period. This general budget lays a reason new traditions have emerged in the last 9
strong foundation for developed India in Amritkaal. years to take good governance to the last mile. The
This budget has holistically laid out the blueprint for unique tradition of budget webinars was started in
the next 25 years of development for the country 2021 in the spirit of public participation. Its aim
with an emphasis on various dimensions. was to encourage participation and ownership of
Prime Minister Narendra Modi addressed 12 all concerned stakeholders in an effective, speedy,
webinars between February 23 and March 11, 2023, and seamless way for the implementation of budget
to make the first general budget of the Amrit Kaal announcements.
a reality with 'public participation', like in the last It was attended by concerned Union Ministers,
few years. It was based on the mantra of 'Saptarishi' key stakeholders from government departments,
outlined in the General Budget. Under the visionary regulators, academia, representatives of trade and
leadership of the Prime Minister, the Government industry associations, etc. In this new tradition,
has undertaken several budgetary reforms over the representatives from all associations, trade, and
years. The budget presentation date was brought industry leaders participated in it. This time, in the
forward to February 1 so that various ministries and budget webinar, all the stakeholders discussed
departments get enough time to utilize the funds precisely how to make the budget the most beneficial,

10 New India Samachar April 1-15, 2023