Union Budget: More Than Rs. 2 lakh Crore for states and autonomous bodies for Capital Expenditure

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More Than Rs. 2 lakh Crore for states and autonomous bodies for Capital Expenditure
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman along with the Minister of State for Finance and Corporate Affairs, Shri Anurag Singh Thakur arrives at Parliament House to present the General Budget 2021-22, in New Delhi on February 01, 2021.

Delhi: February 01: The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today, which is the first budget of this new decade and also a digital one in the backdrop of unprecedented COVID-19 crisis. Laying a vision for AatmaNirbhar Bharat, she said this is an expression of 130 crore Indians who have full confidence in their capabilities and skills. She said that Budget proposals will further strengthen the Sankalp of Nation First, Doubling Farmer’s Income, Strong Infrastructure, Healthy India, Good Governance, Opportunities for youth, Education for All, Women Empowerment, and Inclusive Development among others. Additionally, also on the path to fast-implementation are the 13 promises of Budget 2015-16-which were to materialize during the Amrut Mahotsav of 2022, on the 75th year of our Independence. They too resonate with this vision of AatmaNirbharta, she added.

The Budget proposals for 2021-22 rest on 6 pillars. They are Health and Wellbeing, Physical & Financial Capital, and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D and Minimum Government and Maximum Governance.

While presenting the Union Budget 2021-22 in Parliament today the Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman announced a sharp increase in capital expenditure with BE of Rs 5.54 lakh crore which is 34.5% more than the BE of last financial year (Rs. 4.12 lakh crore). The Minister stated that despite the resource crunch it has been Government’s effort to spend more on capital and it is expected that the total capital expenditure during 2020-21 will be at around Rs 4.39 lakh crore.

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The Minister added that in the Capital Budget a sum of more than Rs. 44,000 crore has been kept in the Budget of Department of Economic Affairs and will be provided for projects/programmes/departments that show good progress on Capital Expenditure and are in need of further funds.

The Minister further stated that more than Rs 2 lakh crore will be provided to States and Autonomous Bodies for their Capital Expenditure. The Government will work out specific mechanisms to nudge the States to spend more of their budget on creation of infrastructure, the Minister added. (Inputs from PIB)

 

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