Union Budget 2021 Highlights: FM presents #IndiaNextBudget; Health & Infrastructure top priority

1 February, 2021 | newsx bureau

As India charts map to post-Covid recovery, Union Finance Minister Nirmala Sitharaman is currently presenting Union Budget 2021-22. The budget rests on 6 core pillars- Health and well-being, Physic...

Union Finance Minister Nirmala Sitharaman is currently presenting her third Budget in the Lok Sabha. Finance Minister is presenting the first paperless budget after a pandemic recently hit the world paralyzing businesses and the lives of people. The focus of the Union budget is on rebooting the economy, bringing relief to sectors across the spectrum from health care to hospitality, and many more. Budget 2021-22 rests on 6 pillars: Health and well-being, Physical and financial capital and infrastructure, Inclusive development for aspirational India, Reinvigorating human capital, Innovation and R&D and Minimum Government-maximum Governance.

FM Nirmala Sitharaman said that the Budget outlay for health and welfare is Rs 2,23,846 crore in the 2021-22 Budget. On the Health front, FM announced the New Central Sponsored Scheme with 64,180 crore investment over 6 yrs. Investment on health infra in Budget 2021 has increased substantially and FM assured that the three areas – Preventive health, curative health and well-being to be strengthened.

While discussing the expectations of the upcoming budget session in an exclusive conversation with NewsX, Sharad Kholi, Economist said that he would abolish Income Tax if given the chance to do so. Kapil Mittal, Tax & GST Expert On India Next Budget said to our channel that “Govt must bring a simpler tax reform”. Meanwhile, Shormishtha Ghosh, Economist asserted that why should we not have a socialist economy. On the other hand, Arun Malhotra, Auto Sector Expert expressed his concerns about the focus still not on Research & Development in the country

This will be the first time since the presentation of independent India’s first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union Government along with the Finance bill, detailing new taxes and other measures for the new financial year, will not be physically printed. The Congress Party targetted FM Sitharaman and questioned the govt that will the ‘Maximum Slogan, Minimum Work’ Govt live up to India’s expectations in Budget 2021?