Budget 2021: Sitharaman focuses on healthcare, infra

Finance Minister Nirmala Sitharaman on Moday presented the Union Budget for the coming financial year beginning April 1 in Parliament, with a focus on strengthening the infrastructure and healthcare systems in the country.

She began her speech with a line from Rabundranath tagore's poem which talks about the 'dawn of a new era'. This, said Sitharaman, is the guiding philsophy for the government as it seeks to take its economy - devastated by the coronavirus disease (Covid-19) pandemic - on road to recovery.

Sitharaman also announced a slew of measures for pensioners and start-ups, and allocated funds for development of roads in four states - Tamil Nadu, Kerala, Assam and West Bengal - where elections are due later this year.

Giving details about developing the road infrastructure, Sitharaman said that the government plans to spend Rs 1.03 lakh crore on constructing 3500 km of national highways in Tamil Nadu, Rs 65,000 crore on 11 km in Kerala, Rs 25,000 crore on 675 km in West Bengal and Rs 34,000 crore on over 1,300 km roads in Assam.

She also said that the governent is planning strategic disinvestment of Public Sector Enterprises, as announced earlier in Aatma Nirbhar Bharat Package.

"Two public sector banks apart from IDBI and one general insurance company to be taken up for strategic disinvestment in 2021-'22. IPO of LIC also to be brought in," Sitharaman said in her speech.

More economic corridors are planned

1. 3500 kms of National Highway Works in Tamilnadu at Rs 1.03 lakh cr.
2. 1100 kms in Kerala at Rs 65000 cr
3. 675 kms in West Bengal at Rs 25000 cr
4. over 1300 kms in Assam at Rs 34000 cr#AatmanirbharBharatKaBudget pic.twitter.com/a6xQrI3Nry

— PIB India (@PIB_India) February 1, 2021

This year's budget was based on six pillars - Health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D, and minimum government and maximum governance - said Sitharaman.

This year, the finance minister read out the speech from a tablet, as part of the government's digital push.

Though she announced exemption for senior citizens over the age of 75 (who live in pension) from filing income tax returns, no change in income tax slabs was announced.