The Union Cabinet headed by Prime Minister Narendra Modi on Monday approved the Budget 2021-22, sources said.
In an unprecedented initiative, Union Budget 2021-22 will be delivered on February 1 in paperless form for the first time.
The government also took care of a large population of the country related to agriculture and farming and enacted new laws to intensify the winds of improvement in the agricultural sector. The Budget 2021-22 is going to be presented in Parliament on Monday, amid wrangling over agricultural reform.
The real estate sector, which took a hard hit due to COVID-19, is pinning hopes on the union budget to be presented on Monday for easing regulatory norms and for steps that will help in the completion of pending projects and the sale of build-up houses.
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it.
Finance Minister Nirmala Sitharaman will table the Union Budget 2021-22 in the parliament on February 1 i.e, on Monday.
After the economic downturn due to COVID-19, Finance Minister- Nirmala Sitharaman has raised many hopes for everyone before presenting the 2021 Budget, on February 1.
Despite the severe impact of Covid-19 in the handloom industry, weavers in Varanasi are putting their hopes high ahead of the Union Budget 2021. Known as the spiritual capital of India - Varanasi produces one of the finest sarees in India. Banarasi sarees are made of finely woven silk and decorated with intricate designs using zari (golden/silver thread). "Due to Corona virus crisis, business was badly hit. The raw materials have become more expensive. We want the government to be more considerate to poor people" says a local weaver. According to reports, Varanasi's weaving industry generates revenue of about Rs 50 billion annually. Finance Minister Nirmala Sitharaman will present her third Union Budget on February 1, 2021.
The finance ministry on Friday sought ideas, suggestions and proposals for the annual budget of 2021-22. The Union Budget 2021, which will be the third budget of Modi's 2.0 government and Finance Minister Nirmala Sitharaman, is likely to be presented on February 1.