Union Budget 2021-22: Wages of inequality
The HinduLike the COVID-19 pandemic, the Union Budget for 2021-22 was also hyped to be a once-in-a-lifetime affair. Total expenditures, after excluding capital expenditures, are projected to decline from Rs.30.11 lakh crore in the current year to Rs.29.29 lakh crore in 2021-22, an almost 3 per cent decrease. In fact, revenues for 2021-22 are projected at Rs.17.9 lakh crore, 11 per cent lower than what was expected for the current year. The compensation cess in the current year is likely to be just Rs.84,000 crore; although it is projected to increase to Rs.1 lakh crore, it would still be 9 per cent lower than levels projected for the current year, and made last year, before the pandemic was in sight. Excise collections, which were projected to yield Rs.2.67 lakh crore in the current year, are expected to deliver Rs.3.61 lakh crore, 35 per cent more.