Union Budget 2021 LIVE Updates: FM Nirmala Sitharaman arrives at North Block; Budget countdown begins

New Delhi: Finance Minister Nirmala Sitharaman is set to present Union Budget 2021-22 today. She has arrived at the North Block. This Budget assumes greater significance as it comes amid the novel coronavirus pandemic, which has led to massive economic disruption in India and around the world.

While the country has witnessed strong economic recovery since lockdown restrictions were eased, there’s still a long way to go. All eyes are on this Budget, with hopes that it will help revitalise the economy. Since the last Budget, the size of India’s economy has reduced from Rs 2.24 lakh crore nominal GDP to Rs 1.94 lakh crore.

There has been lower-than-budgeted revenue growth and higher expenditure to tackle the negative impact of the pandemic. Given the job losses during the lockdown, the employment creation may be one of the key points of the Budget.

Higher public spending, and focus on infrastructure and manufacturing sectors are the three key priority areas which FM Sitharaman needs to address in the Budget, leading figures of India Inc. said as part of the CII-Moneycontrol CEO Budget Survey.

Experts have also suggested that the focus may largely be on healthcare, agriculture, rural economy, MSMEs, credit growth and sectors which were worst-hit due to the COVID-19-triggered lockdown restrictions.