Hon’ble Speaker,
I present the Budget for the year 2021-2022.
1. Honourable Speaker, the preparation of this Budget was undertaken in circumstances like never before. We knew of calamities that have affected a country or a region within a country, but what we have endured with COVID-19 through 2020 is sui generis.
2. When I presented the Budget 2020-21, we could not have imagined that the global economy, already in throes of a slowdown, would be pushed into an unprecedented contraction.
3. We could not have also imagined then that our people as those in other countries would have to endure the loss of near and dear ones and suffer hardships brought about due to a health crisis.
Union Budget 2021: Here is Full Text of Nirmala Sitharaman s Address at the Parliament
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Introduction
Honourable Speaker, the preparation of this Budget was undertaken in circumstances like never before. We knew of calamities that have affected a country or a region within a country, but what we have endured with COVID-19 through 2020 is sui generis. RELATED NEWS
When I presented the Budget 2020-21, we could not have imagined that the global economy, already in throes of a slowdown, would be pushed into an unprecedented contraction.
We could not have also imagined then that our people as those in other countries would have to endure the loss of near and dear ones and suffer hardships brought about due to a health crisis.
DFC assets set to be monetised
Union Finance Minister Nirmala Sitharaman on Monday proposed a ‘record’ allocation of ₹1.10 lakh crore for the Indian Railways in the Budget, with a total capital expenditure outlay of ₹2.15 lakh crore for the upcoming 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 ‘Atmanirbhar Bharat Mission’ and towards completion of vital infrastructure projects, capacity building, passenger amenities and safety enhancement.
Special loan
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 that occurred in Public Account in 2019-2020.
Railways: Execution is key
February 02, 2021
Capital expenditure has been picking up slowly
Budget 2021 has pegged Railways’ capex for FY22 at a record ₹2.15 lakh crore, up by 34 per cent compared to the capex announced for FY21. This is, however, much lower than the projections of ₹3.08-lakh crore, as per the National Infrastructure Pipeline (NIP) report, for the said fiscal. The budgeted capex for FY21 – ₹1.61 lakh crore – too was lower than as fixed by NIP at ₹2.62 lakh crore.
The companies in the sector were severely impacted in the first half of FY21 as the capital expenditure by the Railways languished during the period due to the outbreak of Covid-19. The Railways’ capex has been slowly picking up in the latter part of current fiscal and with higher budgetary allocation for FY22, all eyes will be on the execution aspect.
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.