Tribune Web Desk
Chandigarh, February 1
Finance Minister Nirmala Sitharaman on Monday commenced presentation of the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to 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.–with PTI
Also read: Budget 2021-22: Key numbers to be watched
FDI limit in insurance to be upped from 49 per cent to 74 per cent with safeguards on foreign investments
Highway boost in poll-bound states
8,500 kms of road, highway projects to be awarded by March 2022 to further augment road infrastructure: FM
Two new technologies in Metro railways
New technologies called ‘light metro’ and ‘metro neo’ which are less costlier will be used for tier 2 cities and peripheral areas of tier 1 cities.
FM says national monetisation pipeline for potential brownfield infrastructure assets will be launched.
FM announces voluntary vehicle scrapping policy to phase out old vehicles; fitness tests after 20 yrs for personal vehicles.
Railway to monetise dedicated freight corridors, says FM Sitharaman in her Budget speech on monetisation of assets.
Pipelines of GAIL (India) Ltd, Indian Oil Corp (IOC) and HPCL will be monetised, says FM in Budget for 2021-22.
Capital expenditure budget to increase to Rs 5.54 lakh cr in FY’22 from Rs 4.39 lakh cr in RE for FY’21.
100 per cent broad gauge electrification to be completed by 2023.
High-density routes will provide the anti-collision system. 1.55 lakh crore for railways
Govt to provide Rs 35,000 cr for Covid-19 vaccination in 2021-22; committed to providing more funds, says FM
Swachh Bharat 2.0 will be implemented with outlay of Rs 1,41,678 cr over 5 years: FM
Govt to introduce bill to set up development financial institution with an outlay of Rs 20,000 cr: FM
Our manufacturing companies have to become part of global supply chains: FM
We have committed 1.79 lakh crores over five years.
Seven textile parks to be established over three years: FM
Scheme of mega investment textiles park in addition to PLI scheme will be launched: FM
We have an ambition to lend 5 lakh crore within three years for new projects: FM
Govt fully prepared to support economy for sustainable growth: FM.
4 new national institutes of virology to be set up
New Scheme for drinking water and sanitation
4,378 urban local bodies will see a massive investment of Rs 2,87,000 crore over five years. 2.68 crore households will benefit from the scheme.
42 urban centres, with a million or more population, will get money to take measures to curb pollution.
Aatmanirbhar packages after Covid-19 cost Rs 27.1 lakh crore. It is 13 per cent of our GDP. The packages were like 5 mini budgets: FM
Aatmanirbhar package accelerated pace of structural reforms.
Atmanirbhar Health Yojana with outlay of 64,180 Crore
We have two Covid-19 vaccines, and two or more vaccines are expected soon.
Only 3 times Budget followed contraction in economy: FM
Unprecedented contraction in the global economy as well, says FM
FM Sitharaman begins budget speech amid slogans from opposition parties
Union Cabinet approves Budget 2021-2022
-Support MSMEs, farmers and workers to generate employment.
-Increase Healthcare expenditure to save lives.
-Increase Defence expenditure to safeguard borders.
— Rahul Gandhi (@RahulGandhi) February 1, 2021
Sensex surges 400 points
Sensex surges 443 pts to 46,728.83 in opening trade ahead of Budget presentation; Nifty up 114.85 pts at 13,749.45.
Union Cabinet meet at 10.15 am to clear the Budget.
Also before the actual presentation, the Cabinet headed by Prime Minister Narendra Modi approved the Budget for the fiscal year 2021-22.–PTI
Finance Minister Nirmala Sitharaman has now arrived at Parliament.
Sitharaman meets President Ram Nath Kovind before presenting the budget
Finance Minister Nirmala Sitharaman on Monday called on President Ram Nath Kovind before presenting the Union Budget 2021-22.
As per established tradition, the Finance Minister met the President at the Rashtrapati Bhawan before heading to Parliament.–PTI
Finance Minister @nsitharaman, MoS Finance & Corporate Affairs @ianuragthakur, and senior officials of the Ministry of Finance, called on President Kovind at Rashtrapati Bhavan before presenting the Union Budget 2021-22. pic.twitter.com/FUNptDXnHB
— President of India (@rashtrapatibhvn) February 1, 2021
With the Union Budget 2021 set to be delivered in paperless form for the first time as Finance Minister Nirmala Sitharaman switched to a tablet.
The Finance Minister was seen carrying a tablet kept inside a red coloured cover with a golden coloured national emblem embossed on it.–ANI
Finance Minister Nirmala Sitharaman left the Finance Ministry for Parliament to announce the 2021-22 Union Budget.