(FE)
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.
