Union Budget 2021

India’s Union FM Nirmala Sitharaman presented the Budget 2021 in the parliament this month. In her speech, she emphasized the need of the hour to boost the country’s economy badly hit by the global COVID-10 pandemic. The hugely adverse health conditions in the country due to the virus have been addressed in this budget, and there is an effort to build better health administration throughout the country. The government is planning to spend Rs. 64,180 crores on the healthcare over the next 6 years, and Rs. 35,000 crores besides for the COVID-19 vaccine in the financial year 2022. Due to the increase in the fiscal deficit from 3.5% (Feb 2020) to 9.5% (Feb 2021), the government is prioritizing deficit management this year. Infrastructure continues to remain at the top agenda of the budget and the government plans to set-up a Development Financial Institution, the FM said.