ranjan

The preparation of Budget for 2021-22 in a crisis of Covid -19 will be a challenging one. This pandemic has erupted when most countries had just begun to implement their 2020 budget. The short term priority, since then, has been designing and implementing immediate responses to the crisis through supplementary budgets, contingency reserve funds and emergency decrees.  The preparation of Budget for 2021-22 will be a challenging task given the unprecedented uncertainty about the post lock-down economic outlook and the massive fiscal shock from the pandemic, compounded in resource - risk countries with decline in commodity prices. Therefore, preparation of Budget for 2020-21 will need to :  1) Evaluate the fiscal space for continued priority crisis spending and recovery             measures. 2) Take stock of the impact of the COVID crisis on the economy and the Govt.'s          fiscal position. 3)  Assess the Govt.'s financing needs. 4) Increase transparency along with accountabil