'It's a budget of trust and hope': Nirmala Sitharaman on Union Budget 2021-22 

Finance Minister Nirmala Sitharaman on Sunday participated in a post-budget discussion programme in Mumbai organised by the city BJP.

The finance minister, while extending gratitude to the people for showing togetherness at the time of a crisis, said that the Union Budget 2021-22 is a budget of "trust and hope", adding that everyone has to work together for the betterment of the nation.

Addressing the event, Sitharaman said presenting the Budget while the nation is still coming out of the pandemic was a challenge in itself.

"During the pandemic, the prime minister and the finance ministry was continuously receiving inputs from various quarters. There was a lot of deliberation and it was because of these inputs that we were able to face the challenge and come out with the Budget," she said.

The finance minister added that the way Indians helped each other during the pandemic needed to be passed on to future generations. While many developed economies were still struggling owing to the pandemic, India, with collective efforts, had managed to find a way, she said, citing an example of the Indian cricket team that emerged triumphant in Australia despite several challenges.

"We are supplying vaccine to at least 100 countries at present. Capacity is being increased at the same time. We will have enough for ourselves and for others as well and we are not making noise about it. That's the silent power of the nation," Nirmala Sitharaman said.

A Budget of Covid times

On a lighter note, she said presenting the Budget in Parliament was one thing and talking about it in the financial capital was another.

She added that Mumbai understands the Budget more than anyone else and urged everyone to go through the Union Budget 2021-22 and appreciate the work that has put in for the common man.

"This is a Budget after the pandemic and first of the decade. Here was a Budget coming after a contraction wherein everyone was impacted. There were revenue limitations but we never even thought of Covid cess. PM was clear that there should be no burden on the common man. It was the media which speculated that there would be a Covid cess," she said.

Banks and NPA issue

Nirmala Sitharaman emphasised that the issue of banks and non-performing asset (NPA) was discussed extensively during the Budget formulation. She said now bad asset resolution will be made and that new formulations are being worked upon and efforts are being made to set things right.

Sitharaman further said that the government trusts the taxpayers. "We are the facilitators and are working with the trust of the people. PM is putting the same efforts for the nation as he did when he was CM.

"For honest taxpayers, there is no fear, but for those who are playing the system, we are using technology to get all details. We aren't against any person. We are stopping many leakages and those who are playing with system. We say technology is the answer. We are not taking any steps to give problems to anybody. Taxpayers should get a qualitative return," the finance minister said.s

Meanwhile, Ashish Chauhan, CEO Bombay Stock Exchange, said that India needed an enabling budget and that a good start has been initiated to that effect.

"The finance ministry had converted adversity to an opportunity while presenting the Budget. This Budget is going to unleash the animal spirit in most businesses in the long term. it will create more jobs and help India become a global economic superpower. It will be a long term process and require a lot of hard work from institutions, businesses, workers, farmers and citizens," Chauhan said.