Finance Minister Nirmala Sitharaman on Monday (Feb 1) announced the six pillars of the economy while presenting her budget speech. This includes- Health and Well-Being, Physical and Financial capital and infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Govt., Maximum Governance.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, focuses on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer, and easing rules to attract foreign investments.
Sitharaman, who had in her first budget in 2019 replaced leather briefcase that had been for decades used for carrying budget documents with a traditional red cloth ‘bahi-khata’, had earlier this month stated that the budget for the fiscal year beginning April will be “like never before”.
It has to be a vision statement, a roadmap to get the world’s fastest-growing major economy back on track.Â
This is the first paperless budget that is presented through an iPad and a Union Budget app has been introduced this year so that the common man does not miss a single update on the budget.
