FM Nirmala Sitharaman presented her first paperless union budget and announced a slew of measures on healthcare and infrastructure to give a push to the Covid-hit economy. Sitharaman pegged FY21 fiscal deficit at 9.5% of GDP, with FY22 fiscal deficit target at 6.8% of GDP. Hope to get to back to fiscal consolidation path by FY26. Fiscal deficit will reach below 4.5% by FY26. FY22 gross expenditure seen at Rs 34.83 lakh crore.
The government has left direct taxes unchanged, but took steps in direct tax incentives to ease compliance for taxpayers.The allocation to healthcare in this budget has been increased substantially.

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