Anjuum Khanna – Winners and Losers of Union Budget 2021
Anjuum Khanna – Here are some sector-wise highlights that Finance Minister Nirmala Sitharaman has promised an unprecedented Union budget aimed at buoying the economy. Finance Minister Nirmala Sitharaman said that the Budget proposals for this financial year rest on six pillars that is health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D, and ‘Minimum Government, Maximum Governance’. The risk-on budget keeping fiscal deficit at 6.8 percent for FY22 with a 35 percent jump in capital expenditure is probably what the weak economy needed in a pandemic that pushed the country into a technical recession. Some Significant announcements included a slew of hikes in custom duties to benefit the Make in India, also, some proposals to disinvest two more PSBs and a general insurance company, and numerous infrastructure pledges to poll-bound St...