Watch FM Nirmala Sitharaman's Budget Speech hereFinance Minister Nirmala Sitharaman is set to unveil Union Budget for FY22 under the shadow of the Covid-19 pandemic
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Union Minister Nirmala Sitharaman. Credit: PTI Photo
India’s first Budget amid the Covid-19 pandemic gave a healing touch to the health sector by providing over Rs 2.22 lakh crore for health and wellness, which is 137% more than the last year’s allocation and also gave a big push to the infrastructure sector through a sharp increase in capital expenditures aimed at reconstructing the pandemic-ravaged economy and providing jobs.
Finance Minister Nirmala Sitharaman made two bold Budget announcements, which included lining up two Public Sector Banks for disinvestment and putting up one state-owned insurance company for sale. The Foreign Direct Investment limit in insurance was also increased to 74% from the current 49% in the Budget.