Budget 2022: Govt Announces Rs3 06 Lakh Crore Scheme for Power DisComs; Urban Development Receives Rs4 29 Lakh Crores for JJM & SBM; Record Outlay of Rs1 10 Lakh Crore for Railways moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.
The total capital expenditure outlay is ₹2.15 lakh crore for coming financial year
Union Finance Minister Nirmala Sitharaman on Monday proposed a “record” budgetary allocation of ₹1.10 lakh crore for the Railways in the Budget, with total capital expenditure outlay of ₹2.15 lakh crore for the coming financial year.
With a 33% increase in total capital expenditure for 2021-22 over ₹1.61 lakh crore (revised estimates) for 2020-21, the Railways said funds would be utilised to boost ‘Atma Nirbhar Bharat Mission’ and towards completion of vital infrastructure projects, capacity building passengers amenities and safety enhancement.
According to budget documents, during the year, the Railways was provided ₹79,398 crore as ‘Special Loan for COVID related resource gap’ and towards liquidating the adverse balance occurred in Public Account in 2019-2020.
India Auto Inc responds to Budget 2021
The Finance Minister of India, Nirmala Sitharaman presented the Budget 2021, which has been looked upon wishfully by all-industries alike. For India Auto Inc, which was hoping for massive reforms that could help repair the damage witnessed in 2020, the budget has received a mixed bag of response. Here’s what India Auto Inc thinks of the Budget 2020-2021.
KENICHI AYUKAWA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURERS
“In a visionary budget, the government has adopted an expansionary stance with a thrust on infrastructure building with measures for efficiency improvement and increasing competitiveness. Good macroeconomic growth will translate to good auto sector demand. Specifically, the vehicle scrappage scheme has a good intent and the auto industry would be keen to work with the government on suggestions for maximizing benefits to environment and society.”
New Delhi, January 30
The Economic Survey tabled in the Lok Sabha on Friday by Finance Minister Nirmala Sitharaman stressed on the need for timely closure of sick and loss making Central Public Sector Enterprises (CPSEs) and disposal of their assets.
According to the pre-budget document, as of January 15, 2021, 110 CPSEs in the country are in a defunct state. In addition, there are 77 CPSEs that have been identified as loss-making.
As many as 256 CPSEs out of total 366 in the country are operational, the Economic Survey reported. 171 CPSEs booked profit during FY20. The total profit was Rs 1.38 lakh crore. On the other hand the consolidated loss of loss-making enterprises was Rs 44,816 crore.
Saturday, 30 January, 2021, 08 : 00 AM [IST]
Ashwani Maindola, New Delhi
The Government of India has presented the Economic Survey ahead of the Union Budget Scheduled for Feb 1 and expects a V-Shaped economic recovery in the fiscal 2021-22.
According to the Survey, Indiaâs real GDP expected to record a growth of 11 per cent in 2021-22 and nominal GDP by 15.4 per cent-the highest since Independence.
âThe V-shaped economic recovery is supported by the initiation of a mega vaccination drive with hopes of a robust recovery in the services sector and prospects for robust growth in consumption and investment,â reads the survey.
Nirmala Sitharaman, Union Minister for Finance & Corporate Affairs, presented the Economic Survey 2020-21 in Parliament on Friday, which states that the rebound will be led by the low base and continued normalisation in economic activities as the rollout of Covid-19 vaccines gathers traction.