Nirmala Sitharaman presents Budget 2021. Read full speech here

Union Budget 2021: Finance minister Nirmala Sitharaman did not introduce or change any income tax slabs in this budget.

Finance minister on Monday presented the budget for the financial year 2021-21, which she said was one “like never before” and added that the preparation of the document was undertaken in unprecedented circumstances. The minister said budget relied on six pillars of Health, infrastructure, inclusive development, innovation, governance and human capital.

Union Finance Minister Nirmala Sitharaman at Lok Sabha during the Budget Session of the Parliament, in New Delhi on Monday (PTI Photo)

Sitharaman said the government is ready to revive growth across all sectors of the economy and pegged fiscal deficit at 9.5% for the current financial year, 6.8% of GDP for the year 2021-22, and has set a target of fiscal deficit less than 4.5% of GDP in 2025-26.

Surprisingly, Sitharaman did not introduce or change any income tax slabs in this budget. She however, said that the seniors citizens above 75 years of age, who get only pension income, will now be exempt from filing income tax returns (ITR). Among other key announcements was a ₹35,000 crore expenditure on Covid-19 vaccines and a capital expenditure of Rs5.54 lakh crore.

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Here’s Nirmala Sitharaman’s full Budget 2021-22 speech