FM announces Rs 18,000 crore scheme for public transport in urban areas

The government on Monday announced a Rs 18,000 crore scheme to augment public transport in urban areas

Budget 2021 updates: Finance Minister Nirmala Sitharaman is presenting her third Union Budget in Parliament. Sitharaman said the Budget for 2021-22 rests on six pillars – from healthcare to infrastructure. The finance minister has also announced a total spend of around Rs 2 trillion on healthcare and mega national highway projects in election-bound states of Tamil Nadu, West Bengal, Assam and Kerala.

The Budget speech is being keenly watched by both domestic and foreign investors, various interest groups like farmers, anxious middle class and corporate entities, besides parliamentarians.

As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as economic activity came to a standstill due to the pandemic-induced lockdown. However, the economy is now in a recovery mode. On Friday, the government tabled the Economic Survey 2020, which pegged India’s real GDP growth at 11 per cent in FY22. Meanwhile, the finance minister has promised a ‘Budget like never before’. At the start of the joint session of Parliament on Friday, PM Narendra Modi said the FM had already announced three to four mini budgets and that the 2021-22 Budget should be seen as an extension of the same effort.

The government on Monday announced a Rs 18,000 crore scheme to augment public transport in urban areas. In the first paperless Union Budget, Finance Minister Nirmala Sitharaman said there will be 100 per cent electrification of broad gauge rail tracks by December 2023. She also said a record Rs 1,10,055 crore will be provided for railways, of which Rs 1,07,100 crore will be for capital expenditure in 2021-22…

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