Reading from a ‘Make in India’ tablet, FM Nirmala Sitharaman has announced the first ‘paperless’ Budget with measures under the ‘Aatmanirbhar’ Package.
The Budget has sought to focus on 6 pillars, namely, Health, Inclusive Development, Human Capital, Innovation and R&D.
The FM announced an investment outlay of INR 64,180 crore under the Aatmanirbhar Swastha Bharat Yojana. In particular, INR 35,400 crore has been allocated towards the COVID vaccine program for FY22.
Highway works were announced in Tamil Nadu, Kerala, West Bengal and Assam, over 5000 km in all, in the next 3 years, under the infrastructure development initiative.
INR 20,000 crore was allocated for recapitalization of public sector banks. Disinvestment was set at INR 1,75,000 crore for 2021-22. FDI in the insurance sector was revised ,with a hike in Upper Cap from present 49 per cent to 74 per cent.
The FM further expressed the commitment of the government to the welfare of farmers, procurement will increase, says FM. Wheat amount paid to farmers in 2013-14 was INR 33,874 crore, increased to INR 62,802 crore in 2019-20, according to the FM’s statement.
Fiscal deficit was pegged at 9.5% for FY 21.
The Sensex jumped 950 points to over 47000, Nifty neared 13,900 as the key budget announcements were made.
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