Union Budget sets pace for Aatmanirbhar Bharat

Finance Minister Nirmala Sitharaman said that the Union Budget 2021-122 has set the pace for India to become Aatmanirbhar (self-reliant). The minister also said the challenges of pandemic did not deter the government from undertaking reforms for maintaining long term goals of the country.

The reforms undertaken will lay the path for India to become one of those fastest-growing economies in the world. The Budget has set the pace for India to become Aatmanirbhar. In February, the finance minister presented a Rs 34.5 lakh crore Budget for 2021-22 in the backdrop of the COVID-19 pandemic.

The Budget has laid emphasis on increasing capital expenditure, raising allocation for healthcare capacity building and development of agriculture infrastructure, among others, which are expected to have a multiplier effect on the economy. With regards to increasing allocation for rural job guarantee scheme, the government will allocate more funds for Mahatma Gandhi National Rural Employment Guarantee (MGNREGA) Scheme for 2021-22, if needed, as against Budget estimate of Rs 73,000 crore.

Source: Business Standard