Union Budget 2021 to be presented on Feb 1 at 11 am

The Union Budget of India 2021 is scheduled to be presented by Finance Minister Nirmala Sitharaman during the fifth Parliamentary session, from February 1 onwards, according to reports.

President Ram Nath Kovind will address both the houses from 11 am.

India's fiscal deficit is expected to be around 7.5 per cent of the GDP for the current fiscal owing to moderation in revenue collection due to the Covid-19 crisis, experts said.

This would be a 100 per cent jump from the Budget estimate of 3.5 per cent of GDP pegged for the current fiscal.

The voluminous Budget documents will not be printed this year following the Covid-19 protocol and will instead be distributed electronically to the Members of Parliament (MPs).

This will be the first time since the presentation of independent India's first budget on November 26, 1947, that the documents containing income and expenditure statement of the Union government along with finance bill, detailing new tax and other measures for the new financial year, will not be physically printed.

(With inputs from PTI)