Union Budget 2021: FM Nirmala Sitharaman speaks about India’s economic development in the pandemic

Finance Minister Nirmala Sitharaman begun presenting the Union Budget 2021-22 in Parliament. Sitharaman said the budget for 2021-22 rests on six pillars, from healthcare to infrastructure.

The Finance Minister addressed the issue of COVID-19 pandemic and said that they never expected a global pandemic. The preparation of this year’s budget was undertaken under circumstances like never before.

“We couldn’t have imagined the global slowdown during the last Budget. We announced the ‘Aatmanirbhar’ Package in May 2020 to sustain recovery”, the Finance Minister said.

Atmanirbhar Bharat and Pradhan Mantri Yojana were like 3-4 mini Budgets in themselves. Total COVID-19 support measures amount to 13% of GDP and total COVID-19 support measures by government and RBI amounts to Rs 27.1 lakh crore. The ‘Aatmanirbhar’ Packages accelerated India’s rate of reform. Both of the initiatives supported 40 crore rural women.

Under the Health and well being sector of the newly introduced budget, PM Atmanirbhar Swastha Bharat Yojna is launched for a time span of 6 years to support primary, secondary and tertiary health care sectors, to support and create new institutions, to improve rural health care and invest in R&D to be ready for any unfortunate circumstances.

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