FM proposes sharp hike in capital expenditure
Finance Minister Nirmala Sitharaman on Monday proposed a sharp rise in capital expenditure for the next fiscal to Rs 5.54 lakh crore, from Rs 4.39 lakh crore in the current financial year. Presenting the Union Budget for 2021-22, she said Railways will monetise dedicated freight corridors. In her Budget speech, Sitharaman also said a national monetisation pipeline for potential brownfield infrastructure assets will be launched and pipelines of GAIL (India) Ltd, Indian Oil Corp (IOC) and HPCL will be monetised.
Sitharaman presented the Union Budget 2021-22 on Monday, which was approved by the Union Cabinet headed by Prime Minister Narendra Modi earlier today.
Sitharaman, who had in her first budget in 2019 replaced leather briefcase that had been for decades used for carrying budget documents with a traditional red cloth 'bahi-khata', had earlier this month stated that the budget for the fiscal year beginning April will be "like never before".
It has to be a vision statement, a roadmap to get the world's fastest-growing major economy back on track.
