Union Budget sets pace for Aatmanirbhar Bharat, says finance minister in LS

Finance Minister Nirmala Sitharaman | Photo: @ANI

Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2021-122 has set the pace for India to become Aatmanirbhar.

Replying to debate on the Budget in Lok Sabha, the minister also said the challenges of pandemic did not deter government from undertaking reforms for maintaining long term goals of the country.

The reforms undertaken will lay the path for India to become one of those fastest-growing economies in the world, she said, adding the Budget has set the pace for India to become Aatmanirbhar or self-reliant.

Earlier this month, the finance minister presented a Rs 34.5 lakh crore Budget for 2021-22 in the backdrop of the COVID-19 pandemic.

The Budget has laid emphasis on increasing capital expenditure, raising allocation for healthcare capacity building and development of agriculture infrastructure, among others, which are expected to have a multiplier effect on the economy.

With regards to increasing allocation for rural job guarantee scheme, the finance minister said the government will allocate more funds for Mahatma Gandhi National Rural Employment Guarantee (MGNREGA) scheme for 2021-22, if needed, as against Budget estimate of Rs 73,000 crore.

Hitting out at the Opposition, Sitharaman said the government under Prime Minister Narendra Modi works for common people and not for crony capitalists.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel