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A Ray of Hope for Reviving the Indian Economy

The steps proposed in the budget for the development of the country and employment generation are commendable

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The Union Budget 2021-22 delivered and presented by Fi­nance Minister Nirmala Sitharaman on 1 February 2021 has something for everyone. It was her third budget. This year’s budget was much awaited by every Indian, as it revolves around relief and recovery from last year, and the losses due to the Covid-19 pandemic.

The Union budget this year stands on six pillars, namely health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India, reinvigorating hu­man capital, innovation and R&D and ‘Minimum Government and Maximum Governance’. 

After watching the two-hour-long budget presentation, my ob­servation is that the government is on the right track in its efforts to swiftly bring the Indian economy back to normalcy. 

Budget Highlights and Takeaway

Measures to revive sectors like infrastructure, MSME, startups and everything that concerns the common man have been put into the Budget proposals and implemented very thoughtfully.

The project, PM Aatmanirbhar Swastha Bharat Yojana will be launched with an outlay of Rs 64,180 crore over six years. The initiative will focus on education on single-use plastic, air pollution and segregation of waste. The initiative will make the country excel in health and well-being and in breathing in fresh air.

The other projects presented in the Union budget like Mission Poshan 2.0 and Jal Jeevan Mission Urban are under the Urban Swachh Bharat scheme and will be implemented with an outlay of over Rs 1.4 lakh crore.

The steps proposed in the budget for the development of the country and employ­ment generation are commendable. The country badly needs good employ­ment generation opportunities and all the sectors have been given levies with the same thought in mind.

The steps and decisions taken for education and startups will also ben­efit the country in innovation. The budget allocation towards the R & D sector is just the right investment for the country to enable it to do better in the coming years too. This thoughtful budget has only one thing in mind and that is development for all, recovery and bringing all the sectors back on keel to drive the economy forward.

Conclusion

The ‘Sabka Saath, Sabka Vikas’ concept shines through the budget. The budget focuses on the idea of uplifting all the sectors. And the word ‘Aatma nirbhar’ is not just a word here, but a concept of self-reliance that will make the country shine bright.

The Union budget has been praised by all experts as it covers everything and everyone. May this budget bring only glory to everyone’s careers and businesses.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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Magazine 4 Feb 2021 Union Budget 2021-22

Chiranjiv Patel

Chiranjiv Patel is the Managing Director and the Vice Chairman of P. C. Snehal Group, which is one of the leading construction and engineering business groups. Patel serves on various boards and is Council Member (Gujarat) & Chairman (Membership Committee – Gujarat) – FICCI (Federation of Indian Chambers of Commerce & Industry). He is the founding member of the Entrepreneurs’ Organization’s Gujarat chapter, which currently touches the lives of 49 entrepreneurs in Gujarat.

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