2020 was a year full of challenges for livelihoods and the overall economy of the country, sparked by the COVID-19 pandemic. According to the National Statistical Office (NSO), India’s GDP is estimated to contract by a record 7.7 percent during the 2020-21 fiscal as the pandemic severely hit key manufacturing and services segments. The upcoming Budget is also expected to boost domestic manufacturing across sectors, in line with the Indian government’s focus on a self-reliant economy.
This year, for the first time in the history of independent India, the Union Budget will be paperless. It is expected that the Budget papers, including the Union Budget and Economic Survey, will not be printed, and the government will provide soft copies for these documents.