Budget 2021 live updates: Budget for tourism ministry slashed by 19%; industry unhappy

Will introduce a bill to setup a developmental financial institution with Rs 20,000 crore, says FM

The preparation of this budget was undertaken in circumstances like never before, in view of calamities that have affected a country or a region within a country. But what we have endured with Covid-19 to 2020 is Sui generis

Ahead of the Union Budget 2021 presentation, senior Congress leader and formerfFinance minister P Chidambaram on Monday asked the people of the country to watch out for an increase in healthcare and defence expenditure."Watch out for increase in healthcare expenditure and increase in defence expenditure. These are two non-negotiables. Then watch out for the 10 heads highlighted by the Congress party on 28th January," Chidambaram tweeted."I have listed and explained the 10 issues in my column yesterday in the Indian Express and in 10 Indian language newspapers I will rate the budget on the 2+10 issues. My colleagues and I will address a press conference at 4.30 pm today," he said in a subsequent tweet.

Covid-19 spending, Fiscal deficit, borrowing, tax revenue, disinvestment receipts and capital expenditure

Finance minister Nirmala Sitharaman will now present the budget in Parliament. The session will begin at 11am

"Budget 2021 must support MSMEs, farmers and workers to generate employment. Increase Healthcare expenditure to save lives. Increase Defence expenditure to safeguard borders," the Congress leader has tweeted.

The Union Cabinet meets ahead of Parliament session every year to approve the Budget

India will turn to finance minister Nirmala Sitharaman's budget shortly to see how she prioritizes spending to get the pandemic-ravaged nation back to being the world's fastest-growing major economy.