New Delhi, February 1: Nirmala Sitharaman, the Union Finance Minister, will shortly present central government's Budget for financial year 2021-22 in the parliament. Sitharaman will begin her budgetary speech at 11 am in the Lok Sabha. The live telecast of the Budget Session can be viewed on Lok Sabha TV. Doordarshan, DD News and Press Bureau of Information (PIB) will also live stream the Finance Minister's budgetary speech. Scroll down to watch the online telecast of Union Budget presentation on YouTube. Know Current Income Tax Slabs Before Union Budget 2021–22: Check the Rebates and Existing 2020–21 Income Tax Rates.

The Budget Session of parliament began on January 29 with President Ram Nath Kovind's address to the joint sitting of Lok Sabha and Rajya Sabha. Sitharaman also tabled the Economic Survey for the financial year 2020-21 on Friday. According to the survey, Indian economy contracted by 7.7 per cent in the current fiscal owing to the COVID-19 outbreak and the subsequent lockdown. Economic Survey 2020–21: India's GDP To Grow 11% in Financial Year 2022 Aided by V-Shaped Recovery.

Watch the Live Streaming of Union Budget 2021-22 Here: 

Meanwhile for the upcoming fiscal year 2021-22, the survey forecasts that the real GDP growth can come at 11 per cent. In its World Economic Outlook update for January, IMF said that it expects Indian economy to grow at a rate of 11.5 per cent for the incoming financial year, before a decline to 6.8 per cent in 2022-23 and that India will regain the tag of the fastest-growing large economy in the world in both years.

The Union Budget 2021-22 comes as the Indian economy struggles to revive from the pandemic-induced slowdown that rendered thousands of people unemployed and several businesses were shut down. The country is also experiencing widespread unrest over the farm laws with farmer leaders and opposition attacking government on the new agriculture legislation.

 

(The above story first appeared on LatestLY on Feb 01, 2021 09:21 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).