Finance Minister Nirmala Sitharaman is scheduled to present the Budget today in the Lok Sabha at 11 am, reports Indian Express.
There are high expectations from the budget as it comes after almost an year-long battle against the novel coronavirus, and an economy reeling under the ill effects of the lockdown.
The Economic Survey of India released on Friday noted an estimated 7.7 per cent contraction in 2020-21, and projects a growth of 11 per cent in India’s real GDP in 2021-22. The nominal GDP growth has been estimated at 15.4 per cent, implying an assumption of 4.4 per cent inflation during the year.
Prime Minister Modi, while addressing a joint session of the Parliament on Friday, said that the Finance Minister had already announced 3-4 mini budgets and that the 2021-22 Budget should be seen as an extension of the same effort.
Sitharaman has also raised hopes by stating that Budget 2021-22 will “be a Budget like never before.” This would be her third budget under the National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi.
This year’s Budget is also unique as it will be paperless.
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