Finance Minister Nirmala Sitharaman on Monday presented the Union Budget 2021-2022 in the Parliament. Being the first budget of a new decade and also the one during the pandemic, the budget was focussed on boosting, encouraging India towards being Aatmanirbhar (Self-Reliant). The two main key segments where the government focussed its spending were infrastructure and health. Finance Minister said this year's budget was based on 6 pillars to ensure the overall development of the country.
What are the 6 pillars of Union Budget 2021?
Announcing the budget, Sitharaman said the Budget proposals for 2021-12 rest on six pillars including — health & well-being, physical & financial capital & infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation & R&D, Minimum Govt & Maximum Governance.
Presenting the budget, Sitharaman said she is proposing a sharp increase in Capital Expenditure and thus have provided Rs 5.54 lakh crores which is 34.5 per cent more than the BE 2020-21 for 2021-2022.
Also, a new centrally sponsored scheme PM Atmanirbhar Swasth Bharat Yojana will be launched with an outlay of about 64,180 crores over 6 years, Sitharaman said.
For achieving a 5-trillion dollar economy, Finance Minister Sitharaman said our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains.