Union finance minister Nirmala Sitharaman presented at Parliament Monday the Union Budget 2021-22, which came at a time when India's economy is reeling under the aftereffects of the Covid-19 triggered lockdown. Sitharaman declared a total expenditure of approximately Rs 2 lakh crore on healthcare, Rs 35,000 crore for the Covid-19 vaccine, Rs 1.10 lakh crore for railways during her speech, and said the government intends to complete 11,000 km of national highway infrastructure this year. In the 2021-22 budget, meanwhile, Rs 2.5 was levied on petrol and Rs 4 on diesel per liter of Agri infra cess.
Sitharaman said during her budget speech that the government is committed to the welfare of farmers, adding that the MSP regime has undergone a "sea change" to ensure prices are at least 1.5 times the cost of production, with a sharp rise in food grain procurement and farmers' payments. She also said that in the last six years, the procurement of crops such as paddy, wheat, pulses, and cotton has jumped manifold.
1. Doubling farmers' income
2. Strong Infrastructure
3. Healthy India
4. Good Governance
5. Opportunities for Youth
6. Education for All
7. Women Empowerment, and
8. Inclusive Development
FY’21 fiscal deficit (Revised Estimate) pegged at 9.5% of GDP; fiscal deficit is seen at 6.8% for FY22 Divestment target for FY22 at Rs 1.75 lakh cr. The government is asking Niti Aayog to work on the next list of PSU cos that could be taken up for divestment. Other than IDBI Bank, two other PSBs and one general insurance company to be divested in FY22.
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