New Delhi, Feb 13: Finance Minister Nirmala Sitharaman on Saturday said the Union Budget 2021-122 has set the pace for India to become Aatmanirbhar. Replying to debate on the Budget in Lok Sabha, the minister also said the challenges of pandemic did not deter government from undertaking reforms for maintaining long term goals of the country.

The reforms undertaken will lay the path for India to become one of those fastest-growing economies in the world, she said, adding the Budget has set the pace for India to become Aatmanirbhar or self-reliant. Earlier this month, the finance minister presented a Rs 34.5 lakh crore Budget for 2021-22 in the backdrop of the COVID-19 pandemic. Budget 2021-22 Speech Highlights: Rs 35,000 Crore For COVID-19 Vaccines, Voluntary Vehicle Scrapping Policy, FDI in Insurance Sector Hiked - What FM Nirmala Sitharaman's Third Budget Is All About.

The Budget has laid emphasis on increasing capital expenditure, raising allocation for healthcare capacity building and development of agriculture infrastructure, among others, which are expected to have a multiplier effect on the economy.

With regards to increasing allocation for rural job guarantee scheme, the finance minister said the government will allocate more funds for Mahatma Gandhi National Rural Employment Guarantee (MGNREGA) scheme for 2021-22, if needed, as against Budget estimate of Rs 73,000 crore.

Hitting out at the Opposition, Sitharaman said the government under Prime Minister Narendra Modi works for common people and not for crony capitalists.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)