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 budgetproposals 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.
From fiscal deficit to tax slabs, these are the10 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 7.1per centafter Sitharaman saidIndiawould set up an asset reconstruction company to take over toxic assets.
India's economy is seen clocking a robust growth of 11 per centfor the coming fiscal year, after likely contracting 7.7per centin the current fiscal year to March 31, an annual economic survey showed on Friday.