Published 16:47 IST, February 1st 2021
Union Budget 2021: Piyush Goyal says budget will 'accelerate growth' across all sectors
The Union Railway minister also remarked that the Union Budget would help bring 'positive changes' across every section and region of the country.
Union Railways Minister Piyush Goyal on Monday lauded the Union Budget 2021-22, calling it a 'balanced and dedicated budget' for the development of the nation. The leader also remarked that the Union Budget would help bring 'positive changes' across every section and region of the country.
"Today's AatmanirbharBharatKaBudget is the budget to ensure the overall development of the country including industries, agriculture, MSMEs, infrastructure. My best wishes and congratulations to Prime Minister and the Finance Minister for such a balanced and dedicated budget for development" said Piyush Goyal.
"This budget, along with self-sufficiency, will accelerate the pace of progress in every section and region of the country and will bring positive changes in investors, and industries as well as infrastructure sector in the country by simplifying rules and procedures," he added.
Big boost to railway sector
Under the Union Budget, Finance Minister Nirmala Sitharaman has stated that the Ministry of Railways will develop the National Rail Plan for India 2030 which aims at creating a future-ready railway system to bring down the logistic costs for industries. An outlay of Rs 1,10,055 crore will be provided for the Ministry of Railways of which Rs 1,07,100 crore has been provided for capital expenditure.
Further, she proposed Rs 1,07,000 crore for capital expenditure of Indian Railways and announced the setting up of dedicated freight corridors across the country. FM Sitharaman also announced the government's plans to equip trains plying on the high-density networks and routes with an indigenously developed automatic train protection system that will prevent train collision due to human error.
Union Budget 2021
Union Finance Minister Nirmala Sitharaman presented the Annual Budget in Parliament on Monday, India's first paperless budget, focusing on six pillars under 'Aatmanirbhar Bharat'—Health and Well-Being, Physical and Financial capital and infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D. Finance Minister has also focused on asset monetisation, fiscal deficit etc.
From tax exemptions to new Cess introduced to benefit farmers, from massive plans on Education sector to infrastructural boost, from Digital Census to Swacch Bharat Mission 2, read the full details of the Union Budget here.
Updated 16:47 IST, February 1st 2021