Budget 2021 speech highlights: Full list of FM Sitharaman s key announcements
Union Budget 2021 highights: A new centrally sponsored scheme, PM Atma Nirbhar Swasth Bharat Yojana, will be launched with an outlay of about Rs 64,180 crore over six years
BusinessToday.In | February 1, 2021 | Updated 17:23 IST
FM Sitharaman s Budget 2021 speech highlights
Finance Minister Nirmala Sitharaman on Monday delivered her third Budget speech in the Parliament. She stated that her Budget 2021 rests on six key pillars: Health and Wellbeing; Physical and Financial Capital, and Infrastructure; Inclusive Development for Aspirational India; Reinvigorating Human Capital; Innovation and R&D; and Minimum Government and Maximum Governance.
After that, she went on to announce key reforms that sought to address the path to revive the COVID-19 battered economy.
Budget stresses on six pillars of Indian economy
By IANS |
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Mon, Feb 1 2021 18:21 IST |
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Post Covid: FY22 Budget to give ample opportunity for economic reset, growth. Image Source: IANS News
New Delhi, Feb 1 : After a Covid hit year, six pillars of health, physical and financial capital and infrastructure, inclusive development, human capital, innovation and minimum government and maximum governance have been identified as the cornerstones to build a new economy in a New India.
Presenting the Union Budget 2021-22 on Monday, Finance Minister Nirmala Sitharaman said that the Budget rests on these six pillars.
There is substantial increase in investment in health infrastructure and the Budget outlay for health and wellbeing is Rs 2.23 lakh crore, as against this year s budget estimates of Rs 94,452 crore, an increase of 137 per cent.
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Budget 2021: Who got what
India s ambitious Budget 2021 had something for everyone. But, infrastructure and healthcare turned out to be the biggest winners. The allocation for the defence sector too wasn t any lesser. In a host of announcements, Union Finance Minister Nirmala Sitharaman sought to pull out the country s economy from a creaking financial system, generate more employment opportunities, and ramp up healthcare by prioritizing vaccination for all. There were quite a few firsts during the presentation of the 2021-22 Union Budget in the Lok Sabha. For the first time, the budget went paperless and members were provided soft copies of the speech and documents. The 110-minute speech was her shortest.
Achieving both growth and equity
February 01, 2021
Quoting Thirukkural, the Finance Minister said in her Budget speech: “A king/ruler is the one who creates and acquires wealth, protects and distributes it for common good.” Achieving both growth and equity is more critical for agriculture compared to any other sector of the economy, because farmers constitute the single largest segment of the poor in the country. On the other hand, agriculture has an enormous upside potential, too, given the headroom available in the sector’s resource productivity metrics to deliver required growth.
Three-fold objectives
The overarching objectives for the sector are three-fold. Creating more wealth by improving competitiveness of agricultural production, and adding further value to the primary produce through processing being the first objective. Expanding production in an ecologically sensitive manner is the next objective, given our rapidly depleting water tables and the accelerating clim
Budget 2021 | Reviving ailing economy through infrastructure sector?
Nirmala Sitharaman’s investment push for the sector will yield results only with timely and effective implementation. The efficiency and effectiveness of these investments will be closely watched February 01, 2021 / 07:13 PM IST
Finance Minister Nirmala Sitharaman presented the first paperless Budget a few hours ago. The coronavirus pandemic disrupted the country s economic well-being and all eyes were on the Union Budget 2021-22, eagerly looking forward to the government s strategy to revive the economy. There were high expectations from the infrastructure sector as the multiplier effect will facilitate growth and employment, thereby accelerating a sustainable recovery.