Finance Minister Nirmala Sitharaman is all set to present the Union Budget shortly. The FM has left her residence and is on a way to North Block. FM Sitharaman will arrive in the Parliament with her tablet at 10 AM, and at 11 AM, she will present India's annual statement for the third time.
This year, the Union Budget will be delivered in paperless form for the first time in India's independent history. Therefore, Sitharaman will read out the Union Budget 2021-22 at the Parliament through a tab, instead of the traditional 'bahi khata'. All the Members of the Parliament will also get a soft copy of the budget.
After presenting the Budget 2021, Sitharaman will address a conference along with Minister of State for Finance and all other Secretaries at 3 PM at Media Centre.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, is widely expected to focus on boosting job creation and rural development, putting more money in the hands of the average taxpayer, and easing rules to attract foreign investments.
You can catch all the updates on Budget Session 2021 here.
Several experts have pointed that the Union Budget 2021 will be the starting point for picking up the pieces after the economic destruction caused by the COVID-19 pandemic. Experts suggest that the Budget has to play a critical role in pulling the economy out of the trough.
One of the most-followed announcements in the budget would be the expenditure on vaccination in FY22. Besides, the revenue that the government is projecting to receive from the privatisation of companies such as Bharat Petroleum (BPCL), Air India, and Shipping Corporation of India (SCI).
Economists suggest that the Union Budget 2021 must address issues like - health infrastructure, reviving demand, banking sector reforms, fiscal consolidation, and implementation of 15th Finance Commission report. Alongside, the key focus will also remain on the initiation of measures like corporate tax rate cut, NIP and PLI scheme.
The Budget 2021 must reflect the government's zeal to revive the COVID-19 battered economy. It's high time to change gears and focus on the demand side, lest the ongoing recovery begins to lose steam, according to India Ratings.