Union Budget 2021 Live Blog: No Changes In Personal Tax Slabs

Only 3 times has a budget followed a contraction in the economy: FM

"Our fight against COVID continues into 2021", says FM. 

Vaccines - two now and two expected: FM

Throw back to lockdown schemes

Sitharaman goes over Aatmanirbhar Bharat packages, Garib Kalyan Yojana to alleviate pain during the lockdown. 

Total support provided exceeded ₹27 lakh crores, she says - exceeding 13% of GDP.  

Sitharaman begins speech as opposition creates chaos.

Union Cabinet approved Budget

Sitharaman's speech to begin shortly. 

PM Narendra Modi Arrives At Parliament

Prime Minister Narendra Modi has arrived at the Parliament for the 2021 Union Budget.

How are markets reacting?

Markets remains elevated ahead of the Budget. Sensex and Nifty up 0.96%(427 points) and 0.77%(105 points) respectively. 

However, the Economic Survey predicts that India is in a V-shaped recovery

Public finances are of concern too as the Centre and states have resorted to market borrowing to firefight the fallout of the pandemic. The Economic Survey states that the central government has borrowed ₹10.72 lakh crores this FY (as of January 8, 2021) - a sum 65% higher than the corresponding period in FY2019 - 2020. The amount for the states is 41% higher than the corresponding period too; their borrowings amounting to ₹5.71 lakh crore.