From fiscal deficit to capital expenditure: 10 key figures in Union Budget 2021
India's Finance Minister Nirmala Sitharaman Photograph:( Twitter )
Story highlights
Indian bond yields jumped sharply on Monday after the government, in its annual budget presentation, announced plans to raise additional funds from the market over the next two months to bridge a deficit, even as shares rose on promises of reviving economic growth
Indian bond yields jumped sharply on Monday after the government, in its annual budget presentation, announced plans to raise additional funds from the market over the next two months to bridge a deficit, even as shares rose on promises of reviving economic growth
Indian Finance Minister Nirmala Sitharaman on Monday unveiled Union Budget 2021, that aims to shore up an economy badly-hit by the novel coronavirus pandemic.
The budget proposals rested on six pillars: Health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India reinvigorating human capital, innovation and R&D, minimum government and maximum governance.
Also read: Union Budget 2021: Key highlights and takeaways from Sitharaman's budget
From fiscal deficit to tax slabs, these are the 10 key figures in Union Budget 2021:
- Government's fiscal deficit to reduce from 9.5 per cent to 3.5 per cent
- To raise 2.5 trillion rupees ($34.25 billion) via cash management bills in 2021/22
- Capital expenditure hiked 34.5 per cent to Rs 5.54 lakh crore in FY'22 to push growth
- Government proposes Rs 2.24 lakh cr outlay for healthcare for 2021-22, compared to Rs 94,452 crore in the current fiscal, an increase of 137 per cent
- To increase foreign direct investment (FDI) limit in the insurance sector to 74 per cent, a move aimed at attracting overseas players
- Rs 1.75 lakh crore budgeted from stake sale in public sector companies and financial institutions, including two PSU banks and one insurance company, in the next fiscal year
- Rs 18,000 crore scheme to augment public transport in urban areas
- Rural infra development fund increased to Rs 40,000 crore for the next fiscal from Rs 30,000 crore in FY21
- Under the Public-Private Partnership model, seven port projects worth more than Rs 2,000 crore investment were announced
- Import duties slashed on MSMEs: Uniform decrease to 7.5 per cent on semis, flat, and long products of non-alloy, alloy, and stainless steels
Indian bond yields jumped sharply on Monday after the government, in its annual budget presentation, announced plans to raise additional funds from the market over the next two months to bridge a deficit, even as shares rose on promises of reviving economic growth.
The Nifty Auto index climbed 4.6 per cent, while the Nifty PSU Bank index, which tracks state-run lenders, jumped 7.1 per cent after Sitharaman said India would set up an asset reconstruction company to take over toxic assets.
India's economy is seen clocking a robust growth of 11 per cent for the coming fiscal year, after likely contracting 7.7 per cent in the current fiscal year to March 31, an annual economic survey showed on Friday.
