Budget 2021 news updates: Nirmala Sitharaman delivers budget speech at parliament.
New Delhi:
Finance Minister Nirmala Sitharaman addressed parliament today with details of the Union Budget 2021, the first after a difficult year for the economy due to the COVID-19 pandemic. She announced foreign direct investment (FDI) hike in insurance to 74 per cent from 49 per cent with foreign control under safeguards. The Finance Minister has set a target of Rs 16.5 lakh crore as agricultural credit. Her budget speech comes after a difficult year for the economy due to the COVID-19 pandemic, which shut down businesses for months, leading to lost earnings, curtailed consumer spending and job cuts. The total impact of Atmanirbhar Bharat and measures by RBI was Rs 27.1 lakh crore, which amounts to 30 per cent of GDP, Ms Sitharaman said. 2021 is a year of many milestones, she said.
Read more about Union Budget 2021: Nirmala Sitharaman reaches Ministry of Finance on Business Standard. MoS Finance and Corporate Affairs Anurag Thakur has also arrived at the Ministry of Finance
All eyes are fixed on Finance Minister Nirmala Sitharaman as she is set to present Union Budget 2021-22 in Parliament on Monday, at a time when India is recovering from the COVID-19 crisis. The Budget presentation will begin with a speech from Finance Minister scheduled to take place at around 11 am. Ahead of her third Budget presentation, the Finance Minister and her team will meet President Ram Nath Kovind, and will likely be accompanied by her deputy Anurag Thakur and other officials of the Finance Ministry. The Union Cabinet will hold a meeting at 10:15 am before the presentation. Usually, the duration of the presentation ranges from 90 to 120 minutes.
Budget will be in accordance with people s expectations. Govt which functions on mantra of Sabka Saath, Sabka Vikas, Sabka Vishwas gave new direction to India by announcing Aatmanirbhar package, protecting it from pandemic & bringing economy back on track swiftly: MoS Finance https://t.co/w6GKYLfQsupic.twitter.com/dQ7U3NW40Z ANI (@ANI) February 1, 2021 Thakur also offered prayers at his residence, ahead of the presentation of the Union Budget 2021-22 in the Parliament. All eyes are fixed on Finance Minister Nirmala Sitharaman as she is set to present Union Budget 2021-22 in Parliament on Monday, at a time when India is recovering from the Covid-19 crisis.