India's Finance Minister Nirmala Sitharaman Photograph:( Twitter )
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:
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.