Funds have been committed to the Production Linked Incentive Scheme (PLI) for the next five years, textile parks are to come up in the next three years. Similarly, a scheme to benefit discoms is to come up in the next five years, a scheme to fly the Indian flag on merchantmen would take five years. Such instances abound, lessening the clarity of Budget provisions
On the Sensex pack, gainers were led by IndusInd Bank, zooming around 8 per cent, followed by PowerGrid, Dr Reddy's, Sun Pharma, NTPC and Axis Bank.
What George Washington had said more than three centuries ago about the Budget still holds true: We must consult our means rather than our wishes. In the ultimate analysis, the Finance minister has been wise in not going overboard and keeping expenditure within reasonable limits
During the last trading hours, Sensex was trading at 48,555.42, higher by 2,269.65 points or 4.90 per cent.
Fiscal deficit is an indication of the government's borrowing to meet the shortfall between expenditure and receipts from taxes and other sources.
She said the government will privatise two public sector banks other than IDBI Bank.
She said an asset reconstruction and management company will be set up for stressed assets of banks.
India has a total workforce of over 50 crore including 40 crore unorganised sector which include farm and rural workers.
The Budget estimate of capital expenditure for FY2020-21 was Rs 4.12 lakh crore.
The announcement was made by the Finance Minister Nirmala Sitharaman in Lok Sabha as she presented the Budget 2021-22.
