Finance Minister Nirmala Sitharaman on Friday promised a "never before" like Union Budget as the government looks to steer the pandemic-battered economy and push growth.
Govt officials say health outlay will have to rise significantly not just for vaccine expense but also for creation of supporting infra and distribution channels
Govt looks to rationalise centrally sponsored schemes due to fiscal constraints
In the wake of the coronavirus pandemic, Budget 2021-22 will be full of challenges. Here are some recommendations for Finance Minister Sitharaman from D K Srivastava, chief policy advisor, EY India
Recognising that this is an unusual year, borrowing has been kept at levels so that the government can quickly put the money back in projects, Sitharman said
She also said the pace of disinvestment, which has been hit by the Covid-19 pandemic, will pick up in the coming months
Sitharaman has concluded a comprehensive review of Aatma Nirbhar Bharat Package (ANBP) with the Secretaries of various Ministries/Departments
In the first of a series of videos in the run-up to the Budget, Business Standard Editorial Director A K Bhattacharya gives his expert views on what to expect from this Budget
The government will ensure that state-owned enterprises continue with capital expenditure, she said
FY22 infrastructure allocation also likely to see significant increase
The draft of the bill, approved by the Cabinet in December 2019, proposes a penalty of up to Rs 15 crore and up to three-year jail term for company executives for violating privacy norms.
The Finance Ministry issued a Budget circular on Thursday evening, which contains necessary instructions and deadline for submission of details by different central ministries and departments
The Sensex Index advanced 0.9 per cent while and NSE Nifty 50 Index rose 1.1 per cent at the close in Mumbai.
Budget estimates fiscal deficit to be at 3.4%, within permissible limit of FRBM target
"We have not made up our minds as yet (on the removal of all exemptions)... We are trying step by step, move forward and no particular timeline given," she said
India's GDP growth is expected to slip to a decadal low of 5 per cent this fiscal, pressured by domestic factors like drop in consumption, as well as global issues
"All these expenditures are unlikely to be imparting any fresh growth stimulus to the Indian economy," he argued
Finance ministry to come out with detailed rules on Vivad Se Vishwas Bill in a couple of days
The median loss for such securities after the Budget is 4.5 per cent, compared to a 2.1 per cent gain in the benchmark S&P BSE Sensex
The size of the UP Annual Budget 2020-21 is expected to breach the historic mark of Rs 5 trillion