Finance & Economy | News & Insights

New budget to be continuation of 4-5 ‘Mini Budgets’ presented in 2020, says PM Modi.

Published: January 30, 2021
Author: Manali bhanushali

Prime Minister Narendra Modi on Friday that Union Budget for FY 2021-22 to be seen as a part of chain which had ‘4-5 mini budgets’ during 2020.

“Probably for the first time in the Indian history, Finance Minister had to present packages in form of 4-5 ‘mini budgets. This means year 2020 registered continuous presentation of budgets. I am hopeful that the new Budget will be seen as a chain to 4-5 mini budgets,” Modi said in his customary remarks on the opening day of the Parliament session. The budget session will continue till February 15 before going for a recess and then reassemble on March 8 to continue till April 8.

Union Budget is to be presented on February 1.

In 2020, the Finance Minister presented 5 packages – Pradhan Mantri Garib Kalyan Package (Rs. 1,92,800), Atmanirbhar Bharat Abhiyaan 1.0 (Rs. 11,02,650), PMGKP Anna Yojana – extension of 5 months from Jul – Nov (Rs. 82,911), Atmanirbhar Bharat Abhiyaan 2.0 (Rs. 73,000) and Atmanirbhar Bharat Abhiyaan (Rs. 2,65,080). Apart from these RBI announced various measures amounting over Rs. 12.71 lakh crore. All these totals to around Rs. 30 lakh crore. Earlier, Union Budget for FY 2020-21 was over Rs. 30 lakh crore.

Modi mentioned that this session is the first of new decade and it is very important from the prospect of bright future of the country. “The coming decade is vital for India’s progress. We have to remember the vision and dreams of the greats who fought for our nation’s freedom. Let there be detailed debate and discussions on the Floor of Parliament,” he said.

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