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Ministry Wise Summary of Budget Provisions
Nirmala Sitharaman, the Finance Minister, presented the first-ever digital Union Budget. She announced increased capital spending for the fiscal years 2021-22, with an emphasis on improving healthcare and infrastructure.
The finance minister stated that India’s fight against Covid-19 will last until 2021, and that this point in history, when the post-Covid world’s political, economic, and strategic connections are shifting, is the beginning of a new era, in which India is well-positioned to truly be the land of promise and hope.
Spending And Earning
The borrowings and liabilities of the central bank have been the most significant source of money entering the economy. Due to a lack of finances, the government had no choice but to borrow more to bolster a stagnant economy through increased spending.
Four poll-bound states received special attention in the finance minister’s budget speech, ranging from Rs 1.03 lakh crore highway projects for Tamil Nadu to Rs 65,000 crore works for Kerala.
In her budget for 2021-22, Sitharaman pledged Rs 2.27 lakh in highway projects for four states: Tamil Nadu, West Bengal, Assam, and Kerala, all of which are facing assembly elections.