In this year's budget, the Finance Minister announced a sharp increase in capital expenditure at 5.54 lakh crore for 2022 from Rs 4.39 lakh crore in 2021.
Union Budget 2021: Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2021-22 in the parliament today. For the first time ever, the Union Budget was paperless due to COVID-19. In this year’s budget, the Finance Minister announced a sharp increase in capital expenditure at 5.54 lakh crore for 2022 from Rs 4.39 lakh crore in 2021. The FM, in her Union Budget 2021-22 speech provided the Jal Jeevan Mission with an outlay of Rs 2.87 lakh crore for as many as 4,378 urban local bodies, according to a PTI report. While presenting the Union Budget for the year 2021-22, Sitharaman further said that the Swachh Bharat 2.0 will be implemented with an outlay of Rs 1,41,678 crore for over a period of five years.
In a bid to boost manufacturing in the country, the Finance Minister in today’s budget also announced a production linked incentive (PLI) scheme with an outlay of Rs 1.97 lakh crore for a duration of five years starting this fiscal. The FM further said that a scheme of mega investment textiles park will be launched, in addition to PLI scheme. In the budget speech, she further said that the Modi government will also introduce a bill in order to set up a development financial institution with an outlay of Rs 20,000 crore.
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While presenting the Union Budget 2021-22, FM Sitharaman said the Modi government will launch national monetisation for potential brownfield infrastructure assets. Besides, she also announced a Rs 18,000 crore scheme to augment public transport in urban areas. In the first ever paperless budget, the FM said there will be 100 per cent electrification of broad gauge railway tracks across the Indian Railways network by the end of the year 2023. Also, a record Rs 1,10,055 crore has been announced by the FM for Indian Railways, of which an amount of Rs 1,07,100 crore will be for capital expenditure in the year 2021-22