Union Budget 2021-22 - Expectations

A statement of estimated receipts and expenditure, i.e., “Annual Financial Statement” of the Government of India has to be laid before Parliament in respect of every financial year from 1st April to 31st March. Hence, in this sense the budget is routine. But the budget provides an indication of the state of the economy, priorities of the Government and the use of instruments to realize identified objectives, influence direction and pace of the economy. Hence, budget, which is a document of estimates based on assumptions and strategies to achieve those estimates, is much more than a public statement of expected government revenues and scheme expenditures over a period of one year.

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