Budget 2021 news updates: Nirmala Sitharaman delivers budget speech at parliament.
Finance Minister Nirmala Sitharaman addressed parliament today with details of the Union Budget 2021, the first after a difficult year for the economy due to the COVID-19 pandemic. She announced foreign direct investment (FDI) hike in insurance to 74 per cent from 49 per cent with foreign control under safeguards. The Finance Minister has set a target of Rs 16.5 lakh crore as agricultural credit. 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:
Union Budget farmer friendly, PM Modi devoted to their welfare: Amit Shah
Union Home Minister Amit Shah on Monday lauded Union Budget 20-21 as agriculture sector friendly and lauded Prime Minister (PM) Narendra Modi for his devotion towards the welfare of farmers.
"PM has been working for the welfare of farmers from day one. Numerous efforts were made to double the farmers'' income, taking this link forward...Ensuring Minimum Support Price at one and a half times the cost shows the commitment of the Modi government," Mr Shah said in a tweet.
Budget to bring in positive change for investors, businesses and the general public: Anurag ThakurThe Union budget will bring in a positive change for investors, businesses and the general public, said Minister of State (MoS) for Finance, Anurag Thakur on Monday. "We've focused on micro, small and medium enterprises (MSME) and infrastructure. We are also going to spend big on the healthcare sector. We've allocated around Rs 1.10 lakh crores for roadways and railways each. This Budget will bring in a positive change for investors, businesses and the general public," Mr Thakur told ANI.
Budget positions India towards its target of USD 5 trillion economy: USISPF
Applauding the annual budgetary presentation by Finance Minister Nirmala Sitharaman, the US-India Strategic and Partnership Forum (USISPF) described it on Monday as bold and visionary, which would launch India's economy into a growth trajectory.
"We applaud India's budget. It is bold and visionary, launching the economy into a growth trajectory. The budget positions India towards its target of a USD 5 trillion economy," USISPF president Mukesh Aghi said.
Railway Board chairman lauds Rs 1.10 lakh cr Budget allocation, calls it "path-breaking"
Chairman and Chief Executive Officer (CEO) of the Indian Railway Board (Ministry of Railways) Suneet Sharma on Monday lauded the Centre's allocation of Rs 1,10,055 crore to Indian Railways, calling it "path-breaking" and "transformational".
Budget should be seen as extension of Atmanirbhar, RBI's package: Ravi Shankar Prasad
Union Minister Ravi Shankar Prasad on Monday said the Union Budget 2021 should be seen as an extension of the Centre's Atmanirbhar and the Reserve Bank of India's economic package of Rs 27 lakh crore, ANI reported.
Union Budget: Nirmala Sitharaman announces launch of Deep Ocean MissionUnion Finance Minister Nirmala Sitharaman in her Budget speech on Monday said a "Deep Ocean Mission" will be launched.
"Sincere gratitude to Finance Ministry of India and Union Finance Minister Niramala Sitharaman ji for marking an outlay of 4,000 crores rupees, over 5 years to support the Deep Ocean Mission. Ministry of Earth Sciences is committed to contributing to the nation's prosperity" the ministry tweeted.
Rs 4071 Crore Announced For Information And Broadcasting Ministry In BudgetUnion Finance Minister Nirmala Sitharaman on Monday announced an outlay of Rs 4071.23 crore for the Ministry of Information and Broadcasting in the 2021-2022 fiscal, a decrease of Rs 303 crore from last year.
The allocation to Prasar Bharati has been reduced to Rs 2640.11 crore from Rs 2889.36 crore allotted to it in the last fiscal.
However, the budget for other autonomous bodies like Press Council of India and Films and Television Institute of India (FTII) went up, with the PCI getting Rs 20 crore this time compared to Rs 8.9 crore in 2020-21 and FTII getting Rs 58.58 crore this time as compared to Rs 49.40 crore last fiscal.
For Indian Institute of Mass Communication, the government has earmarked Rs 65 crore, up from Rs 61.30 crore allocated for 2020-21.
Budget Lacks Direction, Fails To Stimulate Demand: Bengal Finance Minister Amit Mitra Describing the Union budget as "confusing and directionless", West Bengal Finance Minister Amit Mitra on Monday said that it has failed to stimulate demand in the economy.
Mr Mitra also criticised the budget claiming that sufficient funds have not been allocated to West Bengal for fighting the COVID-19 pandemic and mitigating the damage caused by cyclone Amphan.
Minority Affairs Ministry Allocated Over ₹ 4,810 Crore In Budget
The Minority Affairs Ministry was allocated ₹ 4,810.77 crore in the 2021-22 Union Budget on Monday which is ₹ 805.77 crore more than than the revised figures of the previous fiscal.
In the budget presented for 2021-22 by Finance Minister Nirmala Sitharaman, it is proposed to give ₹ 4,810.77 crore to the Ministry of Minority Affairs.
The budget estimate for the Ministry of Minority Affairs in the financial year 2020-21 was ₹ 5,029 crore and later the revised allocation was ₹ 4,005 crore.
Of the proposed allocation to the ministry, ₹ 1,378 crore is for the pre-matric scholarship scheme and ₹ 468 crore is for the post-matric scholarship.
Budget Is Transparent, Nothing Pushed Under Carpet: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Monday said the government has come out with open and transparent Budget and has not made any attempt to hide anything under the carpet.
She said that the focus of the Budget 2021-22 has been on spending big on infrastructure and attending to the needs of healthcare sector for reviving Indian economy which is expected to contract by 7.7 per cent in the current fiscal ending March.
Briefing media after the presentation of Budget in Parliament, Ms Sitharaman said the government has not lost opportunity to clean up its own book.
"Speed Booster", "Aatma Barbaad": How Karnataka Leaders Reacted To BudgetThe 2021-22 union budget evoked responses on expected lines in Karnataka on Monday with Chief Minister BS Yediyurappa saying it has come as a catalyst that can revive the sluggish economy and opposition leaders slamming it as "Aatma Barbad" "Aatma Vanchane".
BS Yeddiyurappa said he strongly believed that the budget presented by Finance Minister Nirmala Sitharaman will act as a "speed booster" to the economy which was badly hit due to COVID-19 pandemic.
Describing it as pro-poor and pro-middle class, he said it was impossible to expect a better budget amidst the pandemic.
Rs 7,100 Crore As Development Aid To Other Countries In BudgetIndia on Monday set aside over Rs 7,100 crore in its budget for 2021-22 as development assistance for countries in its neighbourhood as well as in Africa and Latin America, with Bhutan getting the maximum allocation of Rs 3,004 crore while Rs 100 crore will be given to Chabahar port project in Iran.
Finance Minister Nirmala Sitharaman allocated Rs 18,154 crore to the Ministry of External Affairs in the union budget, out of which Rs 7,148 crore has been earmarked as aid to countries.
As per the revised estimates, India's development assistance in 2020-21 was Rs 5,369 crore.
According to the budget documents, Bhutan will get a total of Rs 3,004 crore compared to the revised estimate of Rs 2,261 crore in 2020-21.
Finance Minister Announces Voluntary Vehicle Scrapping PolicyFinance Minister Nirmala Sitharaman on Monday announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles.
Presenting the Budget for 2021-22 in Parliament, Ms Sitharaman said that under voluntary vehicle scrapping policy, personal vehicles would undergo fitness test after 20 years while commercial vehicles would require it after completion of 15 years.
Welcoming the policy, Road Transport, Highways and MSMEs Minister Nitin Gadkari said the policy will lead to new investment of around ₹ 10,000 crore and create as many as 50,000 jobs.
He further said the policy would cover over 1 crore light, medium and heavy motor vehicles.
On Rahul Gandhi's "Crony Capitalist" Charge, Nirmala Sitharaman's Rebuttal Finance Minister Nirmala Sitharaman on Monday hit back at Rahul Gandhi's claim that the Budget favours certain crony capitalists, saying Congress-ruled Kerala-government in the past had handed over a port in the state to the same businessman on invitation basis.
Soon after the Budget presentation, Congress leader Rahul Gandhi alleged that the Narendra Modi government plans to hand over India's assets to crony capitalists through stake sale in public sector companies and financial institutions, including two PSU banks and an insurance company, in the next fiscal.
"Forget putting cash in the hands of people, Modi government plans to handover India's assets to his crony capitalist friends," he said after the presentation of the Union Budget.
All-Inclusive Budget 2021 Touches Every Section Of Society: JP NaddaThe BJP on Monday hailed the Union Budget as one for an "Aatmanirbhar Bharat'', and asserted that this all-inclusive budget will strengthen the economy and double farmers' income.
Ruling party leaders lauded the budget for its focus on a number of measures, including capital expenditure, tax exemption for senior citizens and incentives for start-ups among others.
The Union budget is all-inclusive and touches every section of society, BJP president JP Nadda said while expressing gratitude to Prime Minister Narendra Modi.
Union Budget: See What's Cheaper, Costlier NowThe effects of the Union Budget presented by Finance Minister Nirmala Sitharaman on some goods can be felt immediately. Some of the items that have become cheaper includes gold and silver, and those that became costlier include solar cells and mobile phone.
Read Budget Reflects Sidelining Of Non-BJP Ruled States: Amarinder Singh
Punjab Chief Minister Amarinder Singh on Monday flayed the Union Budget, saying it reflects the Centre's "persistent efforts to sideline" non-BJP ruled states.
His reaction came hours after Finance Minister Nirmala Sitharaman presented the Union Budget for 2021-22.
The Punjab CM claimed that the Budget was "reflective of the BJP-led central government''s total apathy towards the common man, the middle class and farmers".
Amarinder Singh criticised the Centre for the "stepmotherly" treatment meted out to Punjab and other northern states, claiming that it was "designed" to cater to the poll-bound states of West Bengal and south India with a massive infrastructure development allocation for these regions.
Government plans to handover India's assets to its ''crony capitalist friends'', alleges Rahul Gandhi
Congress leader Rahul Gandhi on Monday accused the Narendra Modi government of planning to "handover India's assets to crony capitalist friends".
In his reaction to the union budget presented in parliament on Monday, Gandhi also alleged that the government had not put money in the hands of people in the situation created by COVID-19.
"Forget putting cash in the hands of people, Modi Govt plans to handover India's assets to his crony capitalist friends," Mr Gandhi said in a tweet.
The Congress leader had earlier in the day said the government should support MSMEs, farmers and workers for generating employment.
He had also sought an increase in healthcare expenditure and defence expenditure.
Efforts made in Budget will play important role in creating jobs: JP Nadda
Appreciating the ''first digital budget'' of India, Bharatiya Janata Party (BJP) national president JP Nadda on Monday congratulated Finance Minister Nirmala Sitharaman and her team and said the efforts made in the budget will play an important role in creating jobs in the country.
"This is the first digital budget. As Prime Minister Narendra Modi said, this budget is making the rules and regulations easier and will increase the ease of living for common people," said the BJP president.
He said the budget was presented under uncommon circumstances and it has a sense of reality and a thrust on development.
"This budget is for everyone. This budget will fulfil the hopes and aspirations of elderly, youths, women, along with labourers of organised and unorganised sectors and also of small and large industrialists. I want to thank Prime Minister Narendra Modi for this inclusive budget that is dedicated to the all-round welfare of all citizens. Also congratulations to Finance Minister Nirmala Sitharaman and her team," he said.
Mr Nadda called ''health and wellbeing, financial capital, inclusive growth, human capital, innovation, research and development and minimum intervention'' as the pillars of the budget.
Budget Lacks Direction, Fails To Stimulate Demand: West Bengal Finance Minister
West Bengal Finance Minister Amit Mitra described the Union budget as
confusing and directionless and said that it has failed to stimulate demand in the economy.
"There is not a speck to stimulate demand in the economy as seen in the budget. It does not have any macroeconomic rationale and directionless. The only main objective is to sell family silver," Mr Mitra said at a virtual news conference.
Budget 2021: The Winners And LosersThis was probably the toughest budget yet for Prime Minister Narendra Modi, as his government navigates the twin challenges of steering the $2.7-trillion Indian economy out of an unprecedented recession while ensuring more resources to fight the century's worst pandemic."
Union Budget 2021: "Intent Of Government Clear..." - P Chidambaram
"The Finance Minister paid special attention to election-bound states. She announced special outlays for Kerala, Tamil Nadu, West Bengal and Assam. People are not fools, they will see through this... The intent of the government is clear - to let the public sector banks bleed slowly so that they can be privatised," Congress leader P Chidambaram said.
Bharat Biotech On Budget 2021
"It's a great step ahead, and far-reaching budget announcement, providing Rs 35,000 crore for COVID-19 vaccination in 2021-22. The Finance Minister commitment providing more funds in order to contain the coronavirus pandemic spread in the country and provide an effective, smooth path for the vaccination scheme will help contain, and lead our nation towards accomplishing a covid-19 disease free Bharat," Bharat Biotech chairman Dr Krishna Ella said.
"We Chose To Spend Big On Infrastructure: Nirmala Sitharaman
- We chose to spend big on infrastructure, spanning across roads, bridges and power generation.
- We have also given opportunity to private sector for setting up Development Finance Institution (DFI).
- For funding infra, we have come up with developmental financial institution with all lessons from IDBI.
- For financial sector, disinvestment will continue, LIC will have IPO, insurance sector will have more FDI.
- Accounting of government revenue and expenditure is a lot more transparent.
"This budget comes at a time all of us decided to give greater impetus to the economy," says Finance Minister Nirmala Sitharaman
- Today's budget will enhance India's self confidence.
- The principles in these budget include new opportunities for growth, for youth, new dimension to human resources, go towards progress.
- Will have positive impact on investors, industry and infrastructure.
- Few budgets have seen such positive reception.
- Our government has strived to keep the budget transparent.
- India has been proactive in fighting coronavirus.
- This budget will help wealth and wellness, jaan bhi jahaan bhi.
- The focus on healthcare in this budget is unprecedented
- This budget has focused on development in south, northeast and north, making Kerala, Tamil Nadu and West Bengal business powerhouses.
- This budget has promised unprecedented increase in infra spending.
- Growth and job creation will be helped by this.
Budget 2021: Agriculture Infra Cess Of ₹ 2.5 On Petrol, ₹ 4 On Diesel
An agriculture infrastructure and development cess of ₹ 2.5 per litre on petrol and ₹ 4 per litre on diesel have been added in the budget that was made after months of turmoil in the economy due to the Covid pandemic, which led to lost earnings and job cuts across sectors.There will be no pressure on consumers as other duties and cess were revised before the new agriculture infrastructure cess was calculated, Nirmala Sitharaman said.
"Consequent to imposition of Agriculture Infrastructure and Development Cess (AIDC) on petrol and diesel, basic excise duty and special additional excise duty rates have been reduced on them so that overall consumer does not bear any additional burden," Ms Sitharaman said. (Read full story
here)
Budget 2021: Focus On Vaccine, Farmers, Polls; Relief For Seniors Above 75Finance Minister Nirmala Sitharaman, announcing Budget 2021 aimed at reviving an economy badly hit by the coronavirus pandemic, said the country's healthcare spending would be doubled to Rs 2,23,846 crore and added that 35,000 crore would be spent on Covid vaccines. Capital expenditure will be increased to ₹ 5.54 lakh crore, which is around 34 per cent higher than last year. The government also announced infrastructure projects in states like Bengal and Assam, where polls are due by May. While there were no big tax announcements, the Finance Minister announced a reprieve for pensioners who are 75-plus, who will no longer be required to file tax returns. Ms Sitharaman said the Budget was prepared in circumstances like never before and that the government was fully prepared to back and facilitate a reset of the economy."
Union Budget 2021 Live: Agriculture Infra Cess Of Rs 2.5 On Petrol, Rs 4 On Diesel
A component to develop farm infrastructure has been added to the cost of petrol and diesel in the Union Budget presented by Finance Minister Nirmala Sitharaman today. An agriculture infrastructure and development cess of
Rs 2.5 per litre on petrol and Rs 4 per litre on diesel have been added in the budget that was made after months of turmoil in the economy due to the COVID-19 pandemic, which led to lost earnings and job cuts across sectors.
Union Budget news - Record Rs 1.10 Lakh Crore For Railways In Budget
Finance Minister Nirmala Sitharaman announced on Monday a record sum of Rs 1.10 lakh crore for the Railways, out of which Rs 1.07 lakh crore is for capital expenditure, and said the national transporter would monetise the dedicated freight corridors after its commissioning.
"I am announcing a record sum of Rs 1,10,055 crore for railways of which Rs 1,07,100 crore is for capital expenditure only," she said.
"Indian Railways have prepared a National Rail Plan for India 2030. The plan is to create a future ready railway system by 2030 bringing down the logistic cost for industry is at the core of the strategy to enable Make In India," Ms Sitharaman said.
Union Budget 2021 Live: Shiv Sena's Priyanka Chaturvedi On Budget
Shiv Sena leader Priyanka Chaturvedi tweeted: "No tax relief for salaried class. Nothing much for women except the lip service towards existing schemes. Nothing much for children who lost out on their studies due to exacerbated digital divide. What we have: new privatisation targets, manifesto promises to election going states."
Union Budget 2021 Live: "Reminds Me..." - Shashi Tharoor On Budget
Congress MP Shashi Tharoor tweeted: "This BJP government reminds me of the garage mechanic who told his client, "I couldn't fix your brakes, so I made your horn louder." #Budget2021"
Sensex rises over 1,700 points, Nifty reclaims 14,000 as markets cheer Budget proposals.
Government proposes to relax norms to attract more foreign investment in infrastructure sector: Finance Minister
- Government cuts timeline for reopening of tax cases to 3 years from 6 years.
- Serious tax offences of concealment of income of over Rs 50 lakh can be reopened after 10 years.
Union Budget Live - Exemption From ITR For Senior Citizens Above 75 With Only Pension And Interest Income: Nirmala Sitharaman
- Compliance burden reduced for 75 year and above
- Exemption from ITR for seniors with only pension and interest income
- 1.18 lakh crore revenue deficit grant to 17 states
- States to get 41 per cent share of taxes as per 15th Finance Commission recommendation; government has accepted the recommendation
Agriculture infrastructure fund would be made available to APMCs to augment infrastructure facilities: Finance Minister
Union Budget LiveL Government Proposes Rs 20,000-cr Recapitalisation For PSBs
Finance Minister Nirmala Sitharaman announced that the government would infuse Rs 20,000 crore into public sector banks (PSBs) in 2021-22, to meet the regulatory norms.
For the current financial year also, the government had made a provision of Rs 20,000 crore for recapitalisation.
A National Monetisation Pipeline of potential brown-field infrastructure assets will be launched. An Asset Monetisation Dashboard will be created for tracking progress and provide visibility to investors: FM
- Upcoming census could be the first digital census
- 3,768 crore allocated for census
- Rural infrastructure fund increased from 30K crore to 40K crore.
- 1,000 more mandis to be integrated to eNAM
- 16.5 lakh crore agricultural credit target
Finnace Minister says NITI Aayog to be asked to work on next list of central public sector companies for disinvestment. "Barring four strategic areas, PSUs in other sectors will be divested," she says.
Finance Minister announces Rs 18,000 cr scheme for public transport in urban areas
The government on Monday announced a Rs 18,000 crore scheme to augment public transport in urban areas. Ms Sitharaman said there will be 100 per cent electrification of broad gauge rail tracks by December 2023. She also said a record Rs 1,10,055 crore will be provided for railways, of which Rs 1,07,100 crore will be for capital expenditure in 2021-22.
Government committed to welfare of farmers, says Finance Minister. "Our government is committed to the welfare of farmers. The MSP regime has undergone a change to assure price that is at least 1.5 times the cost of production across all commodities," she says.
Will introduce IPO of LIC this year, says Nirmala Sitharaman
Union budget 2021 live - FDI Cap In Insurance To Be Raised To 74%: Finance Minister
Insurance Act to be amended to increase FDI limit to 74 per cent from 49 per cent, says Finance Minister Nirmala Sitharaman
Finance Minister announces seven port projects worth more than Rs 2,000 cr via PPA mode.
- 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.
Government to provide Rs 2 lakh crore to states and autonomous bodies to meet capital expenditure: Finance Minister
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.
Nirmala 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.
Nirmala 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.
Nirmala 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.
Nirmala 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.
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.
Union Budget Live: Finance Minister Starts Address
Finance Minister Nirmala Sitharaman has started the budget speech with focus on women and farmers.
Congress MPs Jasbir Singh Gill and Gurjeet Singh Aujla wear a black gown to the Parliament, in solidarity with farmers protest (ANI)
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 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.
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.
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.