The Union Budget 2021-22
'Whoever holds the purse, holds the power.' The words of Former US President, John Madison is perhaps a very appropriate way to kick off such a topic. On February 1, 2021 the Minister of Finance Nirmala Sitharaman presented the Union Budget for the Fiscal Year 2021-22 in the Lok Sabha. According to Article 112 of the Indian Constitution it is refered to as the Annual Financial Statement. Till date 92 budgets have been presented with the first one by Dr RK Shanmukham Chetty for FY 1947-48. Whilst this was Sitharaman's third budget, it is unparalleled in the aspect of being India's first paperless budget. The Budget had some big announcements and had some gigantic figures which was hailed by the market. The Stock Exchange gave its 21 gun salute through brilliant and profitable transactions on the day the budget was being presented. Within moments it earned the sorbiquet of a 'balanced budget' by journalists and economists alike. The Budget concentrated on six key ...