Nirmala Sitharaman Budget Speech: Key highlights of Budget 2021 | India Business News


2021-02-01 06:13:40

NEW DELHI: Union finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday.
On Friday, the finance minister tabled the Economic Survey in Parliament. The Survey said that the economy can contract by 7.7% in the current financial year ending on March 31 and the growth could be 11% in the next financial year.
Here is a look at the highlights of the budget.

  • The finance minister said Rs 35,000 crores have been sanctioned for Covid-19 vaccine this year 2021-22. I am committed to provide further funds if required, the minister added.
  • To tackle the problem of air pollution in urban areas, the government sanctioned Rs 2,217 crore for 42 urban centres with million plus population.
  • Over 13,000 km length of roads at a cost of Rs 3.3 lakh crore has already been awarded under Rs 5.35 lakh crore Bharatmala project of which 3,800 kms have been constructed. By March 2022, the government would be awarding another 8,500 and complete an additional 11,000 kms of National Highway Corridor.
  • Jal Jeevan Mission Urban to be launched, outlay Rs 2.87 lakh crore over 5 years.
    Aimed at universal water supply in all 4,378 urban local bodies, with 2.86 crore household tap connections and liquid waste management in 500 AMRUT cities.
  • New centrally sponsored scheme PM Aatmanirbhar Swasth Bharat Yojana to be launched with an outlay of Rs 64,180 crore over 6 years.
  • Main interventions under PM Aatmanirbhar Swasth Bharat Yojana would include:
    – Support for Health and Wellness Centres
    – Setting up Integrated Public Health labs in all districts
    – Critical care hospital blocks
    – Strengthening of NCDC
  • For 2021-22, the minister proposed a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores, which is 34.5% more than the budget estimate 2020-21.
  • The finance minister announced voluntary vehicle scrapping policy to phase out old vehicles. The vehicles would be required to undergo fitness test in automated fitness centres after 20 years (personal vehicles) and 15 years (commercial vehicles).
  • The minister laid out a vision for Aatmanirbhar Bharat in Part A of Budget 2021. This would include steps to strengthen the vision of Nation First by — doubling farmers’ income, strong infra, women’s empowerment, healthy India, good governance, education for all, inclusive development.
  • Aatmanirbhar Bharat package accelerated pace of structural reforms.
  • The Covid-19 recovery has helped laid the foundation for the economic revival we see today.
  • “Faith is the bird that feels the light and sings when the dawn is still dark,” the fiannce minister quoted Rabindranath Tagore, adding that this moment in history is the dawn of a new era, where India is well-poised to be the land of promise and hope”.
  • Today, India has two vaccines, we have begun to safeguard both our citizens as well as 100 or more countries. Two or more more vaccines also expected soon.
  • This year for the first time ever the budget will be paperless. It will be made public online.
  • Sitharaman will present and read out the budget through a tab, instead of the traditional ‘bahi khata’.
  • The finance minister was seen carrying a tablet kept inside a red coloured cover with a golden coloured national emblem embossed on it.
  • In 2019, Sitharaman ditched the long-standing tradition of carrying budget documents in a leather briefcase and went swadeshi with a ‘bahi-khata’.
  • Finance minister had launched the “Union Budget Mobile App” for hassle-free access of Budget documents by MPs and the general public using the simplest form of digital convenience.
  • “Budget 2021 must support MSMEs, farmers and workers to generate employment. Increase healthcare expenditure to save lives. Increase defence expenditure to safeguard borders,” Congress leader Rahul Gandhi tweeted.



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