All eyes are on the Union Finance Minister Nirmala Sitharaman, who is scheduled to present the Budget 2021-2022 of India.
On the 1st of February, Ms. Sitharaman is set to present the Union Budget for the financial year 2021-2022.
Nirmala Sitharman’s first Union budget was presented on the 5th of July 2019. It was also the first budget in the second term of the National Democratic Alliance (NDA) Government
Considering the ongoing situation due to the pandemic Novel Coronavirus illness, the budget for India would be dedicated to the growth and development of the Nation keeping the newly launched the Aatmanirbhar Bharat in mind.
On the 30th of January, Ms. Sitharaman presented the economic survey of 2020-2021 in the Parliament. The Economic Survey 2021-2022 projected a growth of 11% for the economy.
The Parliament session for Budget started on the 29th of February, with the speech of the President of India Ram Nath Kovind.
According to the experts, the Union Budget would help to bring the economic situation back on track, especially after the year of pandemic.
India is keen to know what will unfold for them when Finance Minister Nirmala Sitharaman will table the Union Budget for the fiscal year 2021-2022.
As India is still fighting the COVID-19 pandemic, conducting the vaccination drive and introduced several welfare schemes, citizens of India await for the relief in the Union Budget, which would be a major help for people.
Anurag Thakur, the Minister of State for Finance, said, “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 and bringing economy back on track swiftly.”
According to experts, the Budget would also focus on creating more employment, to develop rural areas, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments to bring back.
In addition, the presentation of this year’s budget would be unique, as it would be paperless.
Following the guidelines of the Novel Coronavirus, first time in the History, budget papers would not be printed to minimize the possibility of social interaction and maintain social distancing norms.
This year,FM Nirmala Sitharaman also launched a mobile app by the name ‘Union Budget Mobile App.’ The launch of the application aims for hassle-free access to Budget documents.
Since this year, there would be no printed budget, all the Members of Parliament (MPs) present during the session would access the budget through the app.
The general public would also be able to see the Union Budget of 2021-2022 through the launched mobile app.
Ms. Sitaraman said, “The mobile app facilitates complete access to 14 Union Budget documents, including the Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill, etc., as prescribed by the Constitution.”
Ahead of the Union Budget Session, Ms. Sitharaman and Mr. Thakur is going to meet the President of India Ram Nath Kovind.
The Budget Session 2021-2022 would begin at 11:00 A.M., on the 1st of February.
