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MUMBAI: The new decade has begun in the shadow of the sub-prime crises and economic recession that derailed most economies of the world. Even though the epicenter of all these crises was in the US, India too felt the tremors. Now as the global economy limps back to recovery, our Finance Minister Pranab Mukherjee will present the first Budget for this new decade.
A bad monsoon has had a telling effect and the result is that the food inflation is touching an all-time highs. The other big issue the FM has to grapple with is how to roll back the three Stimulus Packages the government gave in 2009 to spur economic growth in the light of the global meltdown. The fiscal deficit has touched an alarming level of 6.8% of GDP. So what will the FM do? He must find ways and means to keep the economic engine chugging faster so that it hits double-digit growth in the next two years. At the same time he will have to fine-tune his tax system through various reforms to increase the government‘s revenue. Will the FM further open sectors like the Insurance, Banking, Media or Retail? The real challenge before the finance minister this time around is to act, and act fast, no more long speeches and lofty promises, India needs some decisive steps to ensure that its economy grows at a faster clip and it becomes the most favoured investment destination.
Commenting on the budget programming, Ajay Chacko, Director, TV18 Business Media said, "CNBC-TV18 & CNBC AWAAZ have always set the tone and established new benchmarks in budget coverage over the last decade. This year as well, the channels will deliver a comprehensive mix of special programming and initiatives focusing on budget expectations, analysis and impact across communities and through multiple approaches and formats. This year‘s budget is clearly critical, as the govt must adopt an aggressive action oriented policy stance, which goes beyond announcements and paves the way for sustained implementation. Moreover, the govt faces the dilemma of withdrawing its economic stimulus and reining in the fiscal deficit without compromising the growth recovery. This forms the crux of our programming theme and focus in Budget 2010"
Throughout the month of February, CNBC-TV18 & CNBC AWAAZ will launch a special line-up of initiatives that would predict and analyze steps that the FM could take in the budget and also air views and expectations of stakeholders across the country. These initiatives will include editorial shows, ground events, on air segments, vignettes & specials.
