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Union Budget 2021: What to expect from the finance minister on GDP, fiscal deficit, income tax rates

File photo of Union Finance Minister Nirmala Sitharaman at Parliament.
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PTI
Finance Minister Nirmala Sitharaman on Monday will present the Union Budget for 2021-’22. While speaking at a virtual event of the Confederation of Indian Industry last month, Sitharaman had asked for inputs to formulate a Budget “like never before”. This was significant as it came in the year of the coronavirus pandemic and an unprecedented lockdown, as well as when the economy plunged to brand-new lows.
The pandemic added to existing woes as India’s economy was already slowing down before it struck. The year has left Sitharaman with the task of having to increase government spending in order to boost the economy, but with little scope for higher revenue collection or borrowing from the market.

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Income Tax Slab 2021-22 LIVE Updates: Focus on Putting More Money in Taxpayers' Hands, Govt Promises to Meet Expectations

»No Change in Tax Structure a Sign of Swift Fiscal Consolidation: Budget 2021 gets a Thumbs Up From Industry Experts
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No Change in Tax Structure a Sign of Swift Fiscal Consolidation: Budget 2021 gets a Thumbs Up From Industry Experts
Union Budget 2021-22 was presented today by finance minister Nirmala Sitharaman.
Surprising everyone, especially the markets which closed with the biggest Budget-day gains of 5 per cent, the Union Budget 2021 left all taxes unchanged barring for some cess to fund the farm sector or increase any direct taxes.
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Surprising everyone, especially the markets which closed with the biggest Budget-day gains of 5 per cent, the Union Budget 2021 left all taxes unchanged barring for some cess to fund the farm sector or increase any direct taxes. All it did was tweak the customs and excise duties on certain products to rationalise them.

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