Finance Minister Nirmala Sitharaman on Friday said transparency and tax stability were the key guiding principle of Budget 2021-22. Contrary to the expectations of a COVID-19 tax, the government has chosen to fund the budget stimulus through higher borrowing rather than increased taxes, she said while addressing members of industry chamber CII. While the Union Budget 2021-22 provides for enhanced capital expenditure by the government, it also envisages private sector participation in a big way, the finance ministry said in a statement quoting the minister. On the Budget announcement of setting up a Development Finance Institution (DFI), Sitharaman said the government will provide some capital and will also raise funds from the market.
Transparency, tax stability key guiding principles of Budget 2021-22: FM Sitharaman
While the Union Budget 2021-22 provides for enhanced capital expenditure by the government, it also envisages private sector participation in a big way, the finance ministry said in a statement quoting the minister. PTI February 05, 2021 / 08:08 PM IST
Finance Minister Nirmala Sitharaman on Friday said transparency and tax stability were the key guiding principle of Budget 2021-22. Contrary to the expectations of a COVID-19 tax, the government has chosen to fund the budget stimulus through higher borrowing rather than increased taxes, she said while addressing members of industry chamber CII.
Synopsis
Nirmala Sitharaman said healthcare and agriculture have been the other priorities for the budget. While the Budget provided for enhanced capital expenditure by the government, it also envisaged private sector participation in a big way.
ANI
New Delhi: Finance minister Nirmala Sitharaman has said the budget stresses on areas with high multiplier effect such as infrastructure that would facilitate the private investments with thrust being on transparency and tax stability.
Healthcare and Agriculture have been the other priorities for the budget, she said.
She said while the Budget provided for enhanced capital expenditure by the government, it also envisaged private sector participation in a big way.
Transparency, Tax Stability Key Guiding Principles of Budget 2021-22, Says Nirmala Sitharaman
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Finance Minister Nirmala Sitharaman on Friday said transparency and tax stability were the key guiding principle of Budget 2021-22. Contrary to the expectations of a COVID-19 tax, the government has chosen to fund the budget stimulus through higher borrowing rather than increased taxes, she said while addressing members of industry chamber CII. While the Union Budget 2021-22 provides for enhanced capital expenditure by the government, it also envisages private sector participation in a big way, the finance ministry said in a statement quoting the minister. On the Budget announcement of setting up a Development Finance Institution (DFI), Sitharaman said the government will provide some capital and will also raise funds from the market.
‘Budget relies on private participation’
The legislation for setting up a development finance institution to fund infrastructure projects will allow for such institutions to be formed by the private sector as well, Finance Minister Nirmala Sitharaman told India Inc on Friday, promising an ‘honest leakage-free implementation’ of the Budget proposals for 2021-22.
While the Budget has provided a fiscal push for capital expenditure in infrastructure sectors with a multiplier effect, it relies on private sector participation in a big way, Ms. Sitharaman said, addressing more than 180 CEOs in a closed-door interaction with the Confederation of Indian Industry (CII), urging them to step up investments. Infrastructure outlays in areas such as power, roads, ports and airports would facilitate the private sector, she said, while outlining healthcare and agriculture as the other priorities of the Budget.