Budget 2022: Sharp rebound, recovery of economy reflective of India's resilience, says Sitharaman

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Presenting the Union Budget, Finance Minister Nirmala Sitharaman on Tuesday said that the overall sharp rebound and recovery of the economy is reflective of India's strong resilience. Sitharaman began her presentation of Budget 2022 by expressing empathy with those who were affected by the adverse health and economic effects of the COVID-19 pandemic.

The finance minister said that India's economic growth in the current year is estimated to be 9.2 per cent, the highest among all large economies.

"Overall sharp rebound and recovery of the economy are reflective of India's strong resilience," Sitharaman said while addressing the Parliament today.

"During Amrit Kaal, our government aims to achieve the vision for India@100 set out by the Prime Minister in his Independence Day Address," she said.

"I want to take a moment to express my empathy for those who had to bear adverse health and economic effects of the pandemic," the Union Minister said while presenting her fourth Budget in the Parliament.

Before the presentation, a Union Cabinet meeting was held which approved the Budget 2022-23.

Earlier today, Sitharaman met President Ram Nath Kovind ahead of the Budget presentation. She was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and other officials from the Ministry.

In an attempt to go green, the Union Budget for 2022-2023 was presented in a paperless format. Sitharaman read out the Budget at the Parliament through a tab, instead of the traditional 'bahi khata'.

On Monday, she tabled this year's Economic Survey, centred around the theme of "Agile approach", which forecasted India's economy to grow by 9.2 per cent during Financial Year 2021-22 and by 8-8.5 per cent in fiscal 2023 beginning 1 April.

The budget session of Parliament began on Monday with the address by President Ram Nath Kovind to both Houses in the Central Hall.

The first part of the Union Budget Session of Parliament will be held from January 31 to February 11 and the second part of the Budget Session will take place from March 14 to April 8. 

(With inputs from ANI)

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