Budget 2021 news updates: Nirmala Sitharaman delivers budget speech at parliament.
Finance Minister Nirmala Sitharaman is addressing parliament with details of the Union Budget 2021. Her budget speech comes after a difficult year for the economy due to the COVID-19 pandemic, which shut down businesses for months, leading to lost earnings, curtailed consumer spending and job cuts. "The total impact of Atmanirbhar Bharat and measures by RBI was Rs 27.1 lakh crore, which amounts to 30 per cent of GDP," Ms Sitharaman said. "2021 is a year of many milestones," she said. The ninth budget - including an interim one - of the government led by Prime Minister Narendra Modi has put weightage on creating jobs and rural development - two areas hit hardest by the pandemic. Today's budget will have to go far beyond what the mini-budget in September 2019 achieved by reducing corporate tax, and the subsequent economy-booster announcements during the lockdown necessitated by the pandemic. The budget comes as an economic vaccine for the pandemic-battered economy and to steer India with the much-needed stimulus to boost demand and consumer confidence.
Here are the live updates of Union Budget 2021:
- Pradhan Mantri Ujjwala scheme to extended to one crore more beneficiaries.
- 100 more cities to get gas pipelines.
- A framework to be put in place to give power consumer option to chose discoms.
- Finance Minister says 100 pc electrification of broad gauge rail tracks by December 2023.
#BudgetWithNDTV | Capital expenditure budget to increase to Rs 5.54 lakh crore in FY 2022 from Rs 4.39 lakh crore in RE for FY 2021
#Budget2021 #NirmalaSitharaman Government to provide Rs 2 lakh crore to states and autonomous bodies to meet capital expenditure: Finance Minister
#BudgetWithNDTV Budget to provide Rs 1.1 lakh crore to Indian Railways of which Rs 1.07 lakh crore is for capital expenditure: Finance Minister
A new centrally sponsored scheme PM Atmanirbhar Swasth Bharat Yojana will be launched to strengthen health systems in the country. Atmanirbhar Swasth Bharat Yojana will have an outlay of about 64,180 crores over six years: Finance Minister Nirmala Sitharaman.
#BudgetWithNDTV | #Budget2021: Highlights
https://ndtv.com/india-news/union-budget-2021-live-updates-finance-minister-nirmala-sitharamans-vaccine-today-for-indian-economy-hurt-by-covid-19-pandemic-2360920Nirmala Sitharaman: Highways For Bengal At Rs 25,000 Crore
Finance Minister Nirmala Sitharaman said Rs 25,000 has been allocated to improve highways in West Bengal. "We will nudge states to spend more on creation of infra. We propose capital expenditure of Rs 5.54 lakh crore," she said.
"Railways to monetize dedicated fright corridor assets for operations and maintenance after commissioning": Nirmala Sitharaman
Budget proposals rest on 6 pillars, including health and well-being; physical and financial capital: FM Nirmala Sitharaman "7 'Textile Parks' to be developed in the next 3 years," says Finance Minister Nirmala Sitharaman in budget speech.
"7 'Textile Parks' to be developed in the next 3 years": FM Nirmala Sitharaman#BudgetWithNDTV#Budget2021pic.twitter.com/rbavAVngg6
- NDTV (@ndtv) February 1, 2021
#BudgetWithNDTV | "A new centrally funded scheme, #PMSwasthyaYojana, with an outlay of Rs 64,180 cr will be launched in addition to the existing schemes to develop primary, secondary and tertiary healthcare," says Finance Minister #NirmalaSitharamanNirmala Sitharaman: Rs 35,000 Crore For COVID-19 Vaccination
Finance Minister Nirmala Sitharaman said the centre has provided Rs 35,000 Crore For COVID-19 vaccination. "Only three times has the Budget followed a contraction in the economy This time, unlike before, the situation is due to a global pandemic Budget 2021 provides every opportunity for economy to capture pace and grow sustainably," she said.
#BudgetWithNDTV | Finance Minister Nirmala Sitharaman on #CovidVaccine
#Budget2021 LIVE updates: https://ndtv.com/india-news/union-budget-2021-live-updates-finance-minister-nirmala-sitharamans-vaccine-today-for-indian-economy-hurt-by-covid-19-pandemic-2360920
#BudgetWithNDTV | "The Government stretched its resources for the benefit of the poorest of the poor": FM Nirmala Sitharaman
Live here: ndtv.com/budgetNirmala Sitharaman: India Among Nations With Lowest COVID-19 Deaths
"India now has one of the lowest COVID-19 death rates of 112 per million population and one of the lowest active cases of about 130 per million. This has laid the foundation for the economic revival we see today," Finance Minister Nirmala Sitharaman said.
#BudgetWithNDTV | Finance Minister Nirmala Sitharaman quotes Rabindranath Tagore in #BudgetSpeech
LIVE updates: https://ndtv.com/india-news/union-budget-2021-live-updates-finance-minister-nirmala-sitharamans-vaccine-today-for-indian-economy-hurt-by-covid-19-pandemic-2360920#BudgetWithNDTV | Watch Finance Minister Nirmala Sitharaman present #Budget2021
- NDTV (@ndtv) February 1, 2021
LIVE coverage: https://t.co/ckvRk4CUuHhttps://t.co/Vcy3n02SxE
#BudgetWithNDTV | "This budget provides every opportunity for recovery": FM Nirmala Sitharaman
Live updates: https://www.ndtv.com/india-news/union-budget-2021-live-updates-finance-minister-nirmala-sitharamans-vaccine-today-for-indian-economy-hurt-by-covid-19-pandemic-2360920Nirmala Sitharaman: Budget Proposals Rest On These Pillars
The budget proposals rest on these pillars: health and wellbeing, physical financial capital and infra, inclusive development, innovation and R&D, and minimum government maximum governance, Finance Minister Nirmala Sitharaman said.
#BudgetWithNDTV | Finance Minister Nirmala Sitharaman presents #Budget2021
LIVE updates: https://ndtv.com/india-news/union-budget-2021-live-updates-finance-minister-nirmala-sitharamans-vaccine-today-for-indian-economy-hurt-by-covid-19-pandemic-2360920
#BudgetWithNDTV | Finance Minister Nirmala Sitharaman presents #Budget2021
Watch live: https://www.ndtv.com/video/live/channel/ndtv24x7?pfrom=home-ndtv_topscroll
Budget 2021 Live Updates: Nirmala Sitharaman Says Budget Made Under Circumstances Like Never Before
Finance Minister Nirmala Sitharaman said India could have never imagined the health crisis that was about to unfold when she presented budget for 2020. "The total impact of Atmanirbhar Bharat and measures by RBI was Rs 27.1 lakh crore, which amounts to 30 per cent of GDP," Ms Sitharaman said.
#BudgetWithNDTV | Global economy was already in throes of a slowdown in 2020. Could've never imagined the health crisis that was about to unfold when we presented budget for 2020: Finance Minister Nirmala Sitharaman
#Budget2021
Union Budget Live: Finance Minister Starts Address
Finance Minister Nirmala Sitharaman has started the budget speech with focus on women and farmers.
#BudgetWithNDTV | Sensex surges over 550 points, Nifty trades above 13,750 ahead of #Budget2021, led by gains in ICICI Bank, HDFC, HDFC Bank"Manufacturing and service sectors need support from the Union Budget": R Mukundan, MD and CEO, Tata Chemicals#BudgetWithNDTVpic.twitter.com/1lte6i7Jk5
- NDTV (@ndtv) February 1, 2021
Union Budget 2021 Live: Sensex Surges Over 500 Points
Sensex Surges Over 500 Points, Nifty Above 13,750 Ahead of BudgetThe S&P BSE Sensex surged as much as 552 points to hit intraday high of 46,837.89 and Nifty 50 index touched an intraday high of 13,775.90 ahead of Union Budget 2021 led by gains in banking and financial services heavyweights like ICICI Bank, HDFC, HDFC Bank and Reliance Industries.
Budget 2021: 5 Key Numbers To Watch In Nirmala Sitharaman’s BudgetBudget 2021 Live: Need Of Incentives To Create More Jobs In Private Sector
Corporate lawyer Sachit Jolly says the private sector is expecting some incentives from the government to create more jobs in this budget. "In this budget, some emphasis will have to be laid on encouraging employment because that's one of the key downturns from Covid as there has been a lot of loss of jobs. This time, infact, suggestions were sought from even lawyers and we have recommended that if a lawfirm engages more than 5-7 people in the Covid period, some incentive toward that should be provided," said Mr Jolly.
Union Budget 2021 Live: Expectations For Tax Relief
There are also expectations that Finance Minister Nirmala Sitharaman will unveil some tax relief measures for pandemic-hit sectors such as real estate, aviation, tourism and automakers. "We are expecting equity markets to fall after the budget, based on precedent, especially due to the huge expectations the government has built up this time," said Yogesh Nagaonkar, founder and chief executive officer of Rowan Capital Advisors in Mumbai.
Live Budget 2021: Rupee Rises 8 Paise To 72.88 Against US Dollar In Early Trade
The rupee appreciated by 8 paise to 72.88 against the US dollar in opening trade ahead of the Union Budget 2021-22 presentation in parliament. At the interbank forex market, the domestic unit opened at 72.89 against the US dollar, then inched higher to 72.88, registering a rise of 8 paise over its previous close.
"We expect a good increase in the total outlay for healthcare in this year's Union Budget": Dr Sangita Reddy, Joint MD, Apollo Hospitals #BudgetWithNDTVpic.twitter.com/vSeUPlOVNg
- NDTV (@ndtv) February 1, 2021
Budget 2021 Live: Union Budget 2021 To Be Presented Shortly
The Union budget 2021 will be presented in a short while from now. The Budget speech will begin at around 11 am today with Nirmala Sitharaman beginning it with an address to the speaker of Lok Sabha. Usually, the duration of the presentation ranges from 90 to 120 minutes.
#BudgetWithNDTV | Lok Sabha Speaker Om Birla arrives at the Parliament (ANI)Budget 2020-2021: Nirmala Sitharaman tabled the Economic Survey in Parliament on Friday
Nirmala Sitharaman on Friday tabled the pre-budget Economic Survey for 2020-21, which projected a ''V''-shaped recovery for the economy in the next financial year. The economy is projected to contract by 7.7 per cent in the current fiscal ending March 31, 2021 and expanding by 11 per cent in the next.
Union Budget 2021 Live: BJP MP Hema Malini Reaches Parliament
BJP MP Hema Malini has reached parliament ahead of Union Budget presentation by Finance Minister Nirmala Sitharaman.
Budget 2021: Union Cabinet Meet Begins
Union Cabinet's meeting begins ahead of the presentation of Union Budget by Finance Minister Nirmala Sitharaman.
Live Union Budget: PM Narendra Modi Arrives At Parliament
Prime Minister Narendra Modi has reached parliament ahead of the Union Budget presentation by Finance Minister Nirmala Sitharaman. PM Modi has said the budget will be in continuation of government efforts to revive sectors impacted by pandemic, which has hit all economic activities and led to millions of job losses mainly in small businesses.
Live Budget 2021: Finance Minister Reaches Parliament
Finance Minister Nirmala Sitharaman and Minister of State for Finance and Corporate Affairs Anurag Thakur have arrived at parliament for a brief cabinet meeting before she presents the budget amid the pandemic.
"It is likely to be a conservative Budget, not an expansionary one": Madan Sabnavis, Chief Economist, CARE Ratings#BudgetWithNDTVpic.twitter.com/Qia9W67ZJO
- NDTV (@ndtv) February 1, 2021
Budget 2021: What International Monetary Fund Said
The International Monetary Fund (IMF) recently pegged the contraction in India's economy at 8 per cent in 2020-21. It expects a growth rate of 11.5 per cent in 2021-22 before a decline to 6.8 per cent in 2022-23 and that India will regain the tag of the fastest-growing large economy in the world in both years.
Union Budget 2021: President Tweets
President Ram Nath Kovind tweeted: "Finance Minister @nsitharaman, MoS Finance & Corporate Affairs @ianuragthakur and senior officials of the Ministry of Finance, called on President Kovind at Rashtrapati Bhavan before presenting the Union Budget 2021-22."
Finance Minister @nsitharaman, MoS Finance & Corporate Affairs @ianuragthakur, and senior officials of the Ministry of Finance, called on President Kovind at Rashtrapati Bhavan before presenting the Union Budget 2021-22. pic.twitter.com/FUNptDXnHB
- President of India (@rashtrapatibhvn) February 1, 2021
What Farmers Expect From Union Budget 2021
Swaraj India's Yogendra Yadav, who has been supporting the farmers' protest, told NDTV today that the government should focus on the price for crop produce. "Allocations are more important than gestures," he said. Farmers will never close for government negotiations, he said.
What's In Focus For Government's High Stakes Union Budget
Finance Minister Nirmala Sitharaman will present the budget at 11 am.
Healthcare, bad loans are some of the areas likely to be covered in the Union Budget 2021. (Read full story here)
Budget Will Be In Accordance With People's Expectations: Anurag Thakur
Union Minister of State Anurag Thakur said, "The budget will be in accordance with people's expectations. The government which functions on the mantra of 'Sabka Saath, Sabka Vikas, Sabka Vishwas' gave new direction to India by announcing the Aatmanirbhar package, protecting it from the pandemic and bringing economy back on track swiftly."
Union Budget 2021: Investors Look For Reduction In Withholding Tax Rates
Markets are expecting the Finance Ministry to fill the gap between expenses and income. The expense is around Rs 34 lakh crore, income is around Rs 24 lakh crore is income, while the deficit is around Rs 10 lakh crore. COVID-19 this year is going to cost Rs 2 lakh crore. Additionally, domestic and foreign investors are looking for a reduction in withholding tax rates.
Union Budget 2021: Markets Rise
Shares rose today ahead of the Union Budget where Finance Minister Nirmala Sitharaman is expected to unveil several measures to bolster the economy following the impact of the COVID-19 pandemic. There are also expectations that India will unveil some tax relief measures for pandemic-hit sectors such as real estate, aviation, tourism and automakers. The NSE Nifty 50 index rose 0.78 per cent to 13,741, while the benchmark S&P BSE Sensex was up 0.84 per cent at 46,673.82.
Union Budget 2021: Increase In Spending By 15%
Finance Minister Nirmala Sitharaman is likely to increase spending by more than 15 per cent year-on-year in 2021-22 with an emphasis on infrastructure and healthcare, say senior officials and advisers involved in budget preparation. The economy is projected to contract 7.7 per cent in the current fiscal year.
"If the Finance Minister can bring provisions to attract investors from abroad, then India will have edge over China": Naveen Wadhwa, Taxmann#BudgetWithNDTVpic.twitter.com/FABUL8YIG9
- NDTV (@ndtv) February 1, 2021
Nirmala Sitharaman To Read Out Union Budget 2021 Through A Tab
Finance Minister Nirmala Sitharaman will present the Union Budget 2021 at 11 am. She will read out the Budget 2021 at the Parliament through a tab, instead of the traditional 'bahi khata'.
#BudgetWithNDTV | Markets Reaction
#Nifty #Sensex
Union Budget 2021 Expectations: Experts say Nirmala Sitharaman could unveil plans to shift the economy from survival mode to revival to meet projections of 11 per cent growth rate in the next financial year that starts April, following a forecasted 7.7 per cent contraction in the current fiscal.
#BudgetWithNDTV | What's In Focus For Government's High Stakes #Budget2021 https://www.ndtv.com/business/budget-2021-whats-in-focus-for-governments-high-stakes-union-budget-2360391Budget 2021 Will Be Paperless
Finance Minister Nirmala Sitharaman was seen carrying a tablet in a red sleeve with the national emblem embossed on it. Nirmala Sitharaman had famously replaced the usual Budget briefcase with the traditional red "Bahi-Khata" or cloth ledger in 2019 and had stayed with it last year. She has said it was "high time" to shed the "British hangover". Besides, it was easier to carry, she had confessed. This year, the Finance Minister has launched the "Union Budget Mobile App" to enable MPs and people to access Budget documents easily.
Finance Minister Nirmala Sitharaman was seen carrying a tablet in a red sleeve with the national emblem embossed on it. Nirmala Sitharaman had famously replaced the usual Budget briefcase with the traditional red "Bahi-Khata" or cloth ledger in 2019 and had stayed with it last year. She has said it was "high time" to shed the "British hangover". Besides, it was easier to carry, she had confessed. This year, the Finance Minister has launched the "Union Budget Mobile App" to enable MPs and people to access Budget documents easily.
#BudgetWithNDTV | What are the expectations of Dalal Street from the Union Budget? NDTV's Purva Chitnis reports pic.twitter.com/2rJNx0SkTH
- NDTV (@ndtv) February 1, 2021
Union Budget 2021: Tax Cut Hopes
Corporations and industry chambers expect Finance Minister Nirmala Sitharaman to unveil some tax relief measures for pandemic-hit sectors such as real estate, aviation, tourism and autos. And analysts say the government would also have to consider providing tax relief to small businesses and consumers. But, with India's fiscal deficit for the current financial year ending in March likely rising to more than 7 per cent of gross domestic product (GDP) - double the government's initial estimate of 3.5 per cent - analysts believe this may be quite challenging.
Finance Minister Nirmala Sitharaman, MoS Finance Anurag Thakur pose with the team ahead of the Budget.
Union Budget 2021: Centre May Hike Import Duties On High-End Goods
The government is likely to hike import duties on a number of high-end goods in a bid to raise more than Rs 210 billion in revenue, news agency Reuters reported. India is also likely to rely heavily on privatisation of state-run firms and sales of minority stakes in large companies such as Life Insurance Corp to fund its expenditure programme.
"My expectation is that it will be a transformational Budget": PKD Nambiar, Political Analyst#BudgetWithNDTVpic.twitter.com/8JLp5RALt1
- NDTV (@ndtv) February 1, 2021
Union budget 2021 news - What Junior Minister Anurag Thakur Said Ahead Of Budget
MoS Finance Anurag Thakur offered prayers at his residence ahead of the presentation of the Union Budget 2021. Mr Thakur said that the budget will be in accordance with people's expectations. He also added that the government is working towards a self-reliant India and making its economy grow.
"Government which functions on mantra of 'Sabka Saath, Sabka Vikas, Sabka Vishwas' gave new direction to India by announcing Aatmanirbhar package, protecting it from pandemic and bringing economy back on track swiftly," Mr Thakur, MoS Finance, was quoted as saying by news agency ANI.
Nirmala Sitharaman Arrives At Finance Ministry Office
Finance Minister Nirmala Sitharaman has arrived at the Finance Ministry office ahead of her Union Budget presentation at 11 am.
Union Budget 20201: Pre-Budget Speech Procedure
Finance Minister Nirmala Sitharaman will leave for Rashtrapati Bhavan at 9 am. She will as part of the formal process explain the budget and its features to the President and his officials. After he signs the money bill or finance bill, Ms Sitharaman will come to parliament where the cabinet is explained about the budget. She will then seek approval for introduction of the budget. After the cabinet meeting, the Finance Minister will present the budget in Lok Sabha at 11 am.
Finance Minister Nirmala Sitharaman will leave for Rashtrapati Bhavan at 9 am. She will as part of the formal process explain the budget and its features to the President and his officials. After he signs the money bill or finance bill, Ms Sitharaman will come to parliament where the cabinet is explained about the budget. She will then seek approval for introduction of the budget. After the cabinet meeting, the Finance Minister will present the budget in Lok Sabha at 11 am.
Union Budget 2021 news: "Most Crucial Budget After 1991," Tweets Congress's Manish Tewari
"This is the most crucial budget after 1991," tweeted Congress leader Manish Tewari, adding that the GDP is in the 37th straight month of decline.
This is the most crucial budget after 1991. GDP is in the 37 th straight month of Decline.
- Manish Tewari (@ManishTewari) February 1, 2021
I do hope @nsitharaman acknowledges the seriousness of the situation.
However if economic Survey was anything to go by then all you may get is a Talkathon of fluff sans any substance.
Union Budget 2021: Spurt In Tax Collection
A spurt in tax collection in recent months, aided by the lower base of the current year and an expected economic turnaround that saw January goods and services tax (GST) revenues touch a record high, and hiking import duties on several high-end goods will offer some respite for Finance Minister Nirmala Sitharaman.
A spurt in tax collection in recent months, aided by the lower base of the current year and an expected economic turnaround that saw January goods and services tax (GST) revenues touch a record high, and hiking import duties on several high-end goods will offer some respite for Finance Minister Nirmala Sitharaman.
Nirmala Sitharaman will present the ninth budget of Prime Minister Narendra Modi's government in the Lok Sabha at 11 am. (File photo)
Government Likely To Double Healthcare Spending
The government is likely to double healthcare spending with the aim of raising expenditure in the sector to 4 per cent of gross domestic output in the coming four years, as the country looks to fix shortcomings exposed by the pandemic, news agency Reuters reported. The government could also increase a health tax from the current 1 per cent of income and corporate tax to fund the new programme.
Health sector expenditure must increase by 8 to 10 per cent in Union Budget, say experts. NDTV's Uma Sudhir reports#BudgetWithNDTVpic.twitter.com/JrUfB9pEgc
- NDTV (@ndtv) February 1, 2021
Union Budget 2021 Will Be India's First-Ever Paperless Union Budget
This year's Budget will be unique as it will be paperless, in a significant break from tradition, due to the Covid pandemic.
This is the first time in the history of independent India that budget papers will not be printed, so as to minimize the possibility of social interaction and maintain social distancing norms.
"Budget like never before": What to expect from finance minister
Nirmala Sitharaman had earlier this month announced that the budget will be "like never before". Union Budget 2021 - the ninth budget under the Narendra Modi government, including an interim one - is likely to focus more on driving the economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with China.
Economic Survey's Forecast
The Economic Survey has forecast a "V-shaped" recovery for the Indian economy and real gross domestic product (GDP) growth of 11 per cent in fiscal 2022, on the back of the rollout of a massive vaccination drive against the coronavirus. "The (Economic) Survey has been written against the backdrop of a very trying time for Indian economy and its people. In that context, no doubt the lockdown was swift and effective as there was a complete freeze on most of the economy but the consequences of that when you close an economy for saving lives where most of the people are employed in the informal sector, we need to ask what saving lives mean," Centre for Policy Research chief Yamini Aiyar told NDTV.
Expenditure On COVID-19 Vaccination
One of the closely watched aspects of the budget, apart from corporate and income taxes, will be the expenditure on COVID-19 vaccination in fiscal 2022. The expenditure could be shared among the centre, states and households. India is running the largest vaccination programme after clearing two vaccines - Covishield, made by the Serum Institute of India, and Covaxin, manufactured by Bharat Biotech.
First Part Of Budget Session To End 2 Days Early
The first part of the budget session of parliament will end on February 13, two days early, as the Rajya Sabha has decided to change its sitting. Rajya Sabha Chairman M Venkaiah Naidu has asked leaders of all parties to ensure the budget session goes smoothly.
Highest GST Revenues In January 2021
The goods and services tax (GST) revenues in January 2021 are the highest since the national tax was introduced in July 2017. The revenues almost touched the Rs 1.2 lakh crore mark, exceeding the last month's record collection of Rs 1.15 lakh crore. GST revenues above the Rs 1 lakh crore for a four months at a stretch indicates rapid economic recovery amid the pandemic.
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