Budget 2021: Union Finance Minister Nirmala Sitharaman on Monday held a meeting with Finance Ministers from all states and union territories ahead of Budget 2021 presentation on February 1. Nirmala earlier had promised a “never before” like Union Budget. While investment in health, medical Research & Development (R&D) and developing greater skills to handle telemedicine is going to be critical, livelihood challenges would have to be seen in a newer canvas with newer perspective on vocational training and skill development.Also Read - From Telemedicine To Bridging Urban-Rural Gap: Here Is What Healthcare Sector Wants From Budget 2022
Also Read - Budget 2022-23 on 1st February in Paperless Form, No Halwa Ceremony This Year Due to COVID
It would be interesting to see how government plans to steer the pandemic battered economy and push growth. The Union Budget for 2021-22 is scheduled to be presented in Parliament on February 1, 2021. The minister said that to revive growth, support has to be extended to those areas which have been disrupted badly due to the COVID-19 pandemic as well as to those areas which are now going to be the centres for newer demand and newer engines of growth. Also Read - Budget 2022: What Can Real Estate Sector Expect From Upcoming Union Budget? Watch Video To Find Out
“Send me your inputs so that we can see a Budget which is a Budget like never before, in a way. 100 years of India wouldn’t have seen a Budget being made post-pandemic like this. “And that is not going to be possible unless I get your inputs and wish list, clear observation of what has put you through the challenge… Without that, it is impossible for me to draft something which is going to be that Budget like never, a Budget which is being made after a pandemic,” Sitharaman said while addressing the CII Partnership Summit 2020 earlier.
“Considering our size, population and potential that India hold for good growth and building of economy, I wouldn’t hesitate here to say that we shall be the engine of global growth along with a few other countries. We will be a significant contributor to global economic revival,” she added.
Due to the coronavirus pandemic, many people have lost their jobs while many had undergone salary cut, Sitharaman might be looking at possible ways to put more disposable income in the hands of the people.
According to the reports, Nirmala Sitharaman is likely to take forward the relief announced with the Atmanirbhar package with the basic tax exemption limit for an individual being raised to ₹5 lakh from the current ₹2.5 lakh.