All eyes are fixed on Finance Minister Nirmala Sitharaman as she is set to present Union Budget 2021-22 in Parliament on Monday, at a time when India is recovering from the COVID-19 crisis. The Budget presentation will begin with a speech from Finance Minister scheduled to take place at around 11 am. Ahead of her third Budget presentation, the Finance Minister and her team will meet President Ram Nath Kovind, and will likely be accompanied by her deputy Anurag Thakur and other officials of the Finance Ministry. The Union Cabinet will hold a meeting at 10:15 am before the presentation. Usually, the duration of the presentation ranges from 90 to 120 minutes.
Budget will be in accordance with people s expectations. Govt which functions on mantra of Sabka Saath, Sabka Vikas, Sabka Vishwas gave new direction to India by announcing Aatmanirbhar package, protecting it from pandemic & bringing economy back on track swiftly: MoS Finance https://t.co/w6GKYLfQsupic.twitter.com/dQ7U3NW40Z ANI (@ANI) February 1, 2021 Thakur also offered prayers at his residence, ahead of the presentation of the Union Budget 2021-22 in the Parliament. All eyes are fixed on Finance Minister Nirmala Sitharaman as she is set to present Union Budget 2021-22 in Parliament on Monday, at a time when India is recovering from the Covid-19 crisis.
Read more about Budget 2021 aims to reset economy with honesty in numbers, without doles on Business Standard. Budget aims for minimum government interference while ensuring there is certainty in the tax rates and other rules
Read more about Budget 2021: Nirmala Sitharaman replaces Swadeshi bahi khata with tablet on Business Standard. With the Union Budget 2021 set to be delivered in paperless form for the first time, Finance Minister Nirmala Sitharaman replaced the Swadeshi bahi khata and switched to a tablet
The government on Monday allocated a higher share of the budget to capital expenditure than it has for over a decade, aiming to help push investments amid a pandemic slowdown. Around 15.91 per cent of the budget is for capital expenditure: it was 13.55 per cent last year. The calculations are based on budget estimates. Capital expenditure refers to money spent on the creation of assets for future use like roads and buildings for health facilities. Revenue expenditure includes things like interest payments and salaries that the government pays on an ongoing basis. The share of the budget devoted to the creation of long-term assets or capital expenditure has been on the decline in recent years. It had touched 19.3 per cent in the budget estimates for the financial year 2004-05 (FY05). This declined to 12.15 per cent in FY20. This was the lowest in ten years. It was 12.11 per cent in FY10. The previous high before this year s number was 18.02 per cent in FY08.