But before, did we know?

❖Nirmala Sitharaman- First Full Time female finance minister.

❖The first budget of the decade- the first digital budget .

❖The last general budget 2020-2021 was presented on 1st February, 2020.

Also,
❖Starting point of the budget is a blue sheet of paper with key numbers- Blueprint. The blue sheet is
top secret.
❖The 1973-74 budget- termed as Black Budget (deficit of Rs 550 crore)

❖Budget documents used to be printed at Rashtrapati Bhavan till there was a leak in 1950.
The Union Budget of India
❖According to Article 112 of the Indian Constitution, the Union
Budget of a year is a statement of the estimated receipts and
expenditure of the government for that particular year.
❖Union Budget is classified into Revenue Budget and Capital
Budget.

Revenue Budget- Revenue budget includes the government's

revenue receipts and expenditure.

Capital Budget- Capital Budget includes capital receipts and

payments of the government.
The Focus
Numbers
Revenue & Expenditure
 ❖ Rationalized single Securities Markets Code by 2022.

❖ World class fintech hub at GIFT IFSC.

❖ SEBI as regulator, greater role for WDRA for development of

commodity market ecosystem.

Financial
Reforms for
2021-2022.
❖ Amending the Insurance Act, 1938 to increase the FDI
limit with safeguards.

❖ Asset Reconstruction Company Limited and Asset

Management Company to resolve stressed assets
problem of PSBs.

❖ Permanent institutional framework for Corporate bond

 The Mammoth Covid-19 Plan-
₹30 Lakh Crore
❖Additional Allocation for MGNREGA.

❖Atma Nirbhar Bharat Programme.

❖Collateral free loans for businesses.

❖Free food grain Supply to migrants.

❖Thrust on affordable housing.

❖Performance linked incentives.

❖Moratorium on Interest payments.

 ❖ Supplementary Nutrition Programme and Poshan
Abhiyan to be merged- Mission Poshan 2.0
❖ Setting up of Integrated Public Health Labs.

Healthcare ❖ Pneumococcal vaccine to be rolled across the

country.

❖ Introduction of National Commission for Allied

Healthcare Professionals Bill.

❖ Establishing critical care hospital blocks

 Healthcare at the core
❖ Allocation To Healthcare More Than Doubles After
Pandemic- increase of 137 per cent from last year.
❖ Outlay ₹64180 crore over 6 years.

❖ ₹35000 crore for Covid-19 Vaccine in 2021-22.

❖ Increase healthcare expenditure from 1.2% to 2.5% of

GDP.
 ❖National Rail Plan- developing adequate rail infrastructure
by 2030, increase the modal share of rail in freight to 45
per cent.
❖100% electrification of Broad Gauge Routes by 2023.

Infrastructure ❖Indigenously developed automatic train protection system

to be launched.
❖Revamped reforms-based result-linked power distribution
sector scheme -₹3,05,984 crore over 5 years.
❖Recycling of Ships Act, 2019 enacted and recycling
capacity to be doubled by 2024.
 ❖Ensured MSP at minimum 1.5 times the
cost of production across all
commodities

❖Operation Green Scheme

Agriculture and ❖SWAMITVA Scheme to be extended to

Allied sector all States/UTs

❖Development of modern fishing

harbors and fish landing centers

❖Multipurpose Seaweed Park to be set

up in Tamil Nadu

❖One nation one ration card scheme

under implementation in 32 states and
UTs.

❖A portal to be launched for gig, building

and construction workers
 ❖Central University in Leh

❖750 Eklavya model residential schools in tribal area and

100 Sainik schools to be set up

❖Implementation of NEP 2020

❖Budget estimates Rs.34200 Crore on National Education

Education Mission for FY 21-22

❖Revamped post matric scholarship scheme for welfare of

SCs

Higher Education of India

Standard
Accreditation
setting

Regulation Funding
Skilling India and Research and
Development
❖Opportunities for youth by Amendment of the ❖National Research Foundation with outlay of
Apprenticeship Act ₹50,000 crore over 5 years

❖Realigning the National Apprenticeship

Training Scheme with an outlay of Rs.3000 crore
❖An initiative is underway in partnership with
UAE and Japan for better skill development
❖National Language Translation Mission to boost
internet access
❖Deep Ocean Mission for ocean exploration and
biodiversity conservation
 ❖Allowing a normal
ceiling of net
borrowing for the
states at 4% of GSDP
for 2021-22
Fiscal Position

❖Additional Borrowing
ceiling of 0.5% of GSDP
subject to conditions
Tax Proposal and Indirect tax
❖Revenue Deficit grant to 17 states in 2021-22
GST
❖Relief to senior citizens COLLECTION

❖Dividend payment to REIT/InvIT to be exempted from TDS

❖Increase in limit for tax audit on digital transactions

❖Rationalisation of custom duties on:

Outdated exemption
Raw material
Gold and Silver
 GENDER BUDGETING

❖ Analyses budget’s deferring impact on men and women

Case study ❖ Fiscal policy ignores women’s unpaid labour

❖ Govt. treat spending on infrastructure as investment but on social

“Why national budget care as cost

❖ Educating & employing women boosts growth and tax revenue
need to take gender
❖ It has multiplier effect- create more jobs
into account”
❖ Backed by World bank, The UN and The IMF

“Everyone is keen to take on gender equality if it only means marginal

changes. Root-and-branch changes to thinking about how the fiscal
system supports gender equality are much more difficult.”
 Spending on women- High return
❖ In Latin America, eliminating gender inequality could boost GDP by 34%
❖ Rwanda’s investment in clean water freed girls to go to school
❖ In Austria, reduced taxation on secondary earners- higher labour force participation
❖ South Korea, country with ageing population- gained for spending on social care
❖ In india, girls enrollment a better sign than higher income

“Ample research confirms that leaving half a country’s people behind is bad for growth. Violence against
women; failing to educate girls properly; unequal pay and access to jobs: all take an economic toll.”
CONCLUSION
❖ The stimulus measures and reforms initiated by the Government and liquidity measures by the
RBI are expected to support industrial activity and demand.
❖ The movement of various high frequency indicators in recent months, points towards broad based
resurgence of economic activity.
❖ The launch of Covid-19 vaccination programme in the country is on the path to add momentum to
the economic recovery.
❖ In line with the projections for strengthening of India’s growth by multilateral institutions, the
nominal growth of the economy is expected to be 14.4 percent in the financial year 2021-22.
 BIBLIOGRAPHY
● Union Budget

https://www.indiabudget.gov.in/
● Budget at a glance https://www
.indiabudget.gov.in/doc/Budget_at_Glance/budget_at_a_glance
.pdf
● Macroeconomic framework
https://www.indiabudget.gov.in/doc/frbm1.pdf
● The Hindu paper

https://www.thehindu.com/business/budget/highlights-of-unio
n-budget-2021-22/article33713457.ece
THANK YOU