UNION BUDGET 2021-22 : "An Atmanirbhar Budget"

It is the first budget of the decade. It is the first digital budget (paperless) also named "A Digital Bahi Khata" presented by Financial Minister Nirmala Sitharaman.

                                                                                                    Image Credit- google

This year's union budget rests on six pillars-

1. Health & well-being

2. Physical & financial capital & infrastructure

3. Inclusive development for aspirational India

4. Reinvigorating human capital

5. Innovation and R&D

6. Minimum Government & Maximum Governance

My Opinion-

The Union Budget 2021 is launched to cope with the pandemic situation and to revive the economy after a long period of slowdown even before the virus disruption. It is the extended version of five mini budgets launched by the government during the COVID-19 period, as also stated by our Finance Minister. According to my opinion, it will live up to its promises and expectations as the government launches its concrete plan, especially emphasizing Health, Education, and Infrastructure. The share markets immediately gave it thumbs up and ended with record intraday gains and the hike continues till time. The initial reaction of the industry and economists has also been encouraging.

The Atmanirbhar budget had to be one "like never before", as was promised by FM. This budget is a bold budget as the government highlights more investments in human capital as well as up-gradation in infrastructure, creating jobs, and focusing on economic revival.

 Although it may not look appealing to many at first glance due to the missing income tax relief, the finance minister's budget proposals are aimed at eliminating India’s long-term growth hurdles. The fact that Nirmala Sitharaman kept the expenditure plan for the next fiscal simple and prioritized spending in key areas made her budget stand out from past budgets presented by her. 

Spending more on India’s healthcare sector, ramping up infrastructure development, fixing India’s banking sector, and focusing on asset monetization were much-needed plans to make our economy strong.

Another transformation in this year’s budget is the focus on asset monetization and long-term spending plans for segments like railways, roadways, highways, and more.

#FYbudget #FY21-22