Union Budget 2020: Kiran Mazumdar Shaw draws cancer analogy, appeals 'treat the causality'

Ahe of Union Budget, Biocon chairperson Kiran Mazumdar Shah on Saturday urged government to increase expenditure in infrastructure, healthcare, and education. Giving analogy of cancer treatment, she opined that structural causes of ecomic slowdown must be dressed. Mazumdar Shaw reaffirmed wealth creation, me of this year’s Ecomic Survey as a key element of ecomic immune system. 

She ted that fiscal incentives were similar to CART-cells that are engineered immune cells to treat cancer. According to her, y would t alone solve problem. leing entrepreneur reckoned that an increase in government investments would help tackle ecomic crisis in a much better manner.  

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PM urges focus on ecomy

In all-party meeting called by Parliamentary Affairs Minister before start of session, Prime Minister Narendra Modi urged MPs to keep focus on ecomic issues. He said, "We should focus on how we can turn global scenario in favour of India and in this budget session, and at beginning of New Year if we can give a proper direction to country’s ecomy, it would be in best interest of country."

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Growth projected at 6-6.5%

This year's Budget assumes tremendous significance as Indian ecomy is facing multiple challenges such as a rise in inflation, unemployment, farmer distress and a dip in GDP growth. government has taken inputs from multiple stakeholders. Sitharaman has also anunced a series of reform measures in last few months to give a boost to ecomy.

In Ecomic Survey 2019-20 tabled on floor of Parliament on Friday, GDP growth for next fiscal year has been pegged at 6-6.5%. This is much more than IMF estimate. Union Finance Minister Nirmala Sitharaman will present Union Budget at 11 am on Saturday. 

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