Union Finance Minister Nirmala Sitharaman tabled the Union Budget 2021 in Parliament on Monday. It was an interesting speech as most of it was focused on healthcare, infrastructure and privatisation of various government undertakings. It was a significant budget as it was presented amidst the coronavirus pandemic which hit the economy of the country very hard last year.
Although the covid vaccination drive helped a bit in recovery, India’s economy faced a huge slump due to coronavirus and struggled despite the government introducing a pandemic relief plan. However, with the new budget and funds allocation, the health sector has got a boost to relaunch the fight against the pandemic.
Leading economists and industrialists have praised the Union Budget for its focus on infrastructure and disinvestment of Public Sector Enterprises (PSEs). However, many other people have criticised the budget alleging that it is in favour of the industrialists. As for politicians, they have reacted on expected partisan lines.
Here are some reactions from the top politicians, economists and industrialists in the country:
Prime Minister Narendra Modi
Speaking about the Budget 2021, Prime Minister Narendra Modi said, "Many thought we will put the tax burden on the common man. However, we focused on a transparent Budget. Today's Budget shows India's confidence and will instil self-confidence in the world. The Budget has the vision of self-reliance and features every section of the society."
Union Finance Minister Nirmala Sitharaman
"If there are two important features of this Budget, it is that we chose to spend big on infrastructure which spans across roads, power generation, bridges, ports and so on. As a second feature, I tend to the need of the healthcare sector and even there, capacities for better health management had to be brought in in light of what we had gone through last year," Nirmala Sitharaman said.
Uttar Pradesh CM Yogi Adityanath
"I thank Prime Minister and Finance Minister for presenting development-oriented budget amid Covid-19 pandemic. Budget 2021 has provisions for various strata of society, be it farmers, youth, women or poor. What the budget offers in terms of infrastructure is also commendable," Yogi Adityanath was quoted as saying by ANI.
Delhi CM Arvind Kejriwal
"This budget is to provide benefit to some selected big companies. It (budget) will trigger a spike in inflation and will be a burden for common people," Kejriwal said.
Niti Ayog Vice Chairman Rajiv Kumar
Speaking to ANI, Rajiv Kumar said, "In my opinion, the Finance Minister had raised a lot of expectations regarding Budget 2021 and she has fulfilled all of them. Given the current times, the Budget is focussed on India's growth and is tailored to accelerate the growth rate."
TMC leader Mamata Banerjee
"It is an anti-people budget. They always make false statements. India's first paperless budget sold almost every sector. There is nothing for the unorganised sector in the budget," Mamata Banerjee said while reacting to Budget 2021.
CPI (M) general secretary Sitaram Yechury
Reacting to the Union Budget 2021, CPI(M) general secretary Sitaram Yechury said, "this is Budget of the industrialists".
"This Budget is not for the common people but for big industrialists. This Budget will help those who seek to make a profit."
"In the name of self-reliant India, the government is selling nation's wealth in the form of privatisation from the defence, to oil and gas pipelines to airports and railways, everything is being sold to private players."
Defence Minister Rajnath Singh
"The people hadn't expected a Budget of this kind because, in a way, the government had presented five mini-budgets earlier. Several packages were announced, of which Aatmanirbhar Bharat is also a part. It's a superb Budget. The more it is praised, the less it is."
Congress supremo Rahul Gandhi
"Forget (about) putting cash in the hands of people, Modi government plans to handover India's assets to his crony capitalist friends," Rahul Gandhi tweeted.
Serum Institute India CEO Adar Poonawalla
"Great Budget 2021 announcements, Nirmala Sitharaman Ji, especially on healthcare and vaccines; this is the best investment any country can make. A healthier India is a more productive India," he tweeted.
Mahindra Group Chairman Anand Mahindra
"In a time of unprecedented economic stress, the Govt's responsibility was to spend enough to revive the economy or else face enormous human suffering. So I had one expectation from this budget: that we should be very liberal in terms of the targeted fiscal deficit. Box ticked."
RPG Enterprises Chairman Harsh Goenka
"Combination of Pujara & Pant innings - consistency and flamboyance! A steady focus on infra, commercial laws, ease of business with big shots of monetising PSU assets, new divestments, insurance FDI. India won in Australia. Now India shall rise above in new world order!"
Prathit Bhobe, CEO&MD, Tata Mutual Fund
"Sometimes we suffer more in our imagination than in reality. Couldn’t be more true today. In the run-up to the budget, the market was bracing for higher taxes on the back of a pandemic year. The fact that there were no changes in taxes coupled with a boost for growth made it a double joy for equity markets."
