New Delhi, FEB 1: Finance Minister Nirmala Sitharaman is presenting the Union Budget for 2021-22 in Parliament today. This year's Budget is unique as finance minister is using a tablet to deliver a paperless Budget address, instead of a bahi khata, that she used last year and gone are the days of brief cases used by ex-finance ministers. It is a 'Made in India' tablet computer. This is the ninth budget under the BJP’s Modi government and Sitharaman's third so far with first being delivered in 2019 after the BJP retained to power. Sitharaman is expected to announce measures to revive the pandemic-hit economy with focus on higher spending on healthcare, infrastructure to create more employment opportunities and defence. Sitharaman in her speech is also expected to widely focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments. At this time when India is recovering from the Covid-19 crisis, union budget 2021 is going to effect the Indian economy the most. PM Narendra Modi has shown confidence that the Budget will be seen as part of the packages announced by Sitharaman over the past 10 months to offset the impact of lockdowns.
Some Big announcements by Finance Minister Sitharaman in the Union Budget till now :
- For 2022, I propose a sharp increase in capital expenditure at 5.54 lakh crore, from Rs 4.39 lakh crore in 2021.
- Aims to complete 11,000km of national highway infrastructure this year.
- More economic corridors being planned to boost road infrastructure.
- Government aims to complete 11,000km of national highway infrastructure this year.
- FM announces highways projects in Tamil Nadu, Kerala, West Bengal and Assam.
- 675 km of highway works announced in West Bengal at a cost of Rs 25,000 crore.
- Meanwhile, markets are reacting positively to Union Budget 2021. Sensex up over 700 points
- A record Rs 1.10 lakh crore outlay for railways, of which Rs 1.7 lakh crore is for capital expenditure.
- Union Budget 2021: Centre to provide Rs 18,000 crore for public buses and Rs 3.05 lakh crore outlay for power sector
- Hydrogen energy mission for generating hydrogen out of green-powered sources.
- 100 more cities to be added in the next 3 years to the gas distribution network.
- Gas pipeline project to be taken up in Jammu &Kashmir.
- Boost to non-conventional energy sector
- Social security benefits to be extended to gig and platform workers for the first time.
- Over 15,000 schools to be qualitatively strengthened under National Education Policy.
- One Nation One Ration Card Schem to be introduced.