Finance Minister Nirmala Sitharaman to present Union Budget 2022 today at 11 am

All eyes are on Finance Minister Nirmala Sitharaman who will present the Union Budget 2022 at 11 am.

This is Sitharaman’s fourth budget presentation after her appointment in as Finance Minister in 2019. Budget 2022 will decide whether India will be able to keep up its growth momentum in 2022.

The budget comes at a time when India’s economy is remarkably recovering after two devastating waves of the coronavirus pandemic. But there are still a host of challenges that could upset growth.

Inflation, growing unemployment and economic slowdown due to the third wave of the coronavirus pandemic are some key challenges that experts expect the government to address in Budget 2022.

India’s economy faced a fresh hurdle when theOmicron variant of coronavirus led to a request of restrictions across many states, crippling small businesses and contact intensive sectors in what seemed to be a repeat of the second wave last year.

But most economists believe that the economic impact of the third wave will wane soon and is not as concerning as an issue such as inflation and rising unemployment.

Even though India’s growth has been the best in the world in 2021, experts are worried about the combined impact of inflation and growing unemployment on the economy. They believe the government should announce measures to tackle the issue in the budget.