‘Budget qualitative than quantitative’

The approach was more qualitative rather than quantitative, focusing on agri, infra and road connectivity into villages such as introducing refrigerated coaches for perishables.  “The primary aim is not to double the farm output but to double the farmer’s income”, he explained, in his keynote address on, “Is the market view in divergence with the real economy?” the 9th edition of United Way Chennai’s Markets and Economy 2020 event.

He also said the revised expenditure in the current fiscal year is 16 pc plus higher than the previous year, which, in itself, is a stimulus for the economy and expected increase growth. Somanathan highlighted that concentrating on domestic investment and consumption would be the key to reviving the domestic economy in the coming years, especially considering the international events such as trade war between US and China, uncertainty due to Brexit and the slowdown in the auto sector.

As part of the event, a discussion was led by R Seshasayee, former Chairman, Ashok Leyland along with Anantha Nageswaran, non-permanent member of the EAC to the PM.