Budget makes a directional change, to encourage entrepreneurial spirit: FM

Nirmala Sitharaman says it raises resources without increasing tax rates, asks industry to invest now

Union Finance Minister Nirmala Sitharaman on Thursday said the Budget for the fiscal year 2021-22 marked a clear directional change that would unleash entrepreneurial spirit. She said the Budget raised resources at a time when a lot of money was required to be spent, but kept the tax rates intact.

Addressing the FICCI’s national executive committee meeting through video conferencing, Sitharaman said: “It’s a Budget which raises resources but not on the back of increased taxation. There is a directional change in the Budget, which is so distinct that it will fuel the entrepreneurial spirit which Indians show given the right