Budget 2020 Failed to Admit the Gravity of the Economic Distress: Naushad Forbes I Karan Thapar

One of India’s most highly regarded industrialists and a former President of CII and Co-Chairman of Forbes Marshall has said “This was not the budget we needed”. Naushad Forbes says the first problem with the budget is that it does not publicly admit the seriousness of the problem facing the economy. Had the budget done so it would have laid the foundation for radical steps. However, its’ failure to accept and admit the seriousness of the slowdown means that this is “a business-as-usual budget” and “not what the country needs”. It lacks bold steps.



In a 50-minute interview to Karan Thapar for The Wire, Naushad Forbes says that the surprising thing is that in private meetings with industrialists both the Prime Minister and the Finance Minister have fully accepted the seriousness of the problem the economy faces, sought advice, listened attentively and taken notes. This attitude, however, was not reflected in the budget.

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