Budget 2021 LIVE Updates: Finance Minister Nirmala Sitharaman will introduce the Union Budget for 2021-22 on February 1. As per PTI, the CCPA has said the Budget will be introduced on February 1. President Ram Nath Kovind will address a joint sitting of both the Houses of Parliament on January 29. The Cabinet Committee on Parliamentary Affairs (CCPA) likewise suggested that the spending meeting be held from January 29 to February 15. The second part of the Budget meeting will be held from March 8 to April 8. On January 29, The Economic Survey 2020-21 was tabled in Parliament. The overview fixed India's Real Gross Domestic Product (GDP) development at 11 percent in FY22, and said the economy is seeing a V-shaped recuperation in the wake of being harmed by COVID-19 pandemic.

Budget 2021 – Expectations

COVID-19 and its spread have left an overwhelming path of devastation across the economic landscape, blowing into bits the actual structure of customary financial policy planning. The lockdowns and the prolonged restrictions have constrained numerous an organization to close or reduce tasks, lowering the goverment's tax collections. Gross domestic product (GDP)— the absolute estimation of products and enterprises delivered in the nation—fell 23.9 percent in April-June 2020, and afterward again by 7.5 percent in July-September.

India has now slipped into a technical recession, which happens when genuine or expansion changed GDP contracts in two progressive quarters. From being toasted as a motor for worldwide development with the status of the world's quickest developing significant economy, India's GDP has fallen for two progressive quarters. The greater inquiry presently is: what long will the mean for last?

Expectations are running high on the Budget 2021-22 for "big-bang measures." The Union Budget may simply be the correct event to be somewhat more fearless and to press the foot on the accelerator.