Union Budget 2021-22: A budget to fulfil the Sankalp of Aatmanirbhar Bharat

To bolster the ‘Sankalp of Aatmanirbhar Bharat’, Finance Minister Nirmala Sitharaman in her Union Budget 2021-22 speech in the Parliament today announced that the budget proposals will strengthen the following six pillars:

1. Health and Well-Being

2. Physical and Financial capital and infrastructure

3. Inclusive Development for Aspirational India

4. Reinvigorating Human Capital

5. Innovation and R&D

6. Minimum Government, Maximum Governance

She further stated that the Proposals in Part A will strengthen the Sankalp of NATION FIRST, including among other things, the following:

1. Doubling farmers’ income

2. Strong Infrastructure

3. Healthy India

4. Good Governance

5. Opportunities for Youth

6. Education for All

7. Women Empowerment, and

8. Inclusive Development

Sitharaman, in her speech in the Parliament, said that India has never faced such a health crisis and hailed the measures taken by the government to prevent the virus from spreading. 

“The total impact of Aatmanirbhar Bharat and measures by RBI was ₹27.1 lakh crore, which amounts to 30 per cent of GDP,” Sitharaman said.

Sitharaman also said that only three times has the Budget followed a contraction in the economy and that this contraction was due to the global pandemic, but the budget 2021-22 would provide every opportunity for the economy to capture the pace and grow sustainably.

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