Budget Session 2022: FM Nirmala Sitharaman Will Respond To Rajya Sabha Debate Over Budget Today

While responding to the charges in Lok Sabha, FM Sitharaman said the inflation was double-digit during the previous UPA regime and that the grand old party brought reforms under compulsion.

Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha, during ongoing Budget Session of Parliament, in New Delhi, Thursday, Feb. 10, 2022. (SANSAD TV/PTI Photo)

New Delhi: Finance Minister Nirmala Sitharaman will reply to the discussion on Union Budget in Rajya Sabha on Friday. It will be the last day of the first part of the Budget session of Parliament, and the finance minister's reply is expected between 10 am and 10:30 am in Rajya Sabha.

There has been an ongoing discussion on the Budget for about 11 hours in the Rajya Sabha where different political parties shared their opinion on the Budget with the House.

Opposition parties in the Rajya Sabha on Thursday termed the Union Budget for 2021-22 as one “for the rich and by the rich” that reflected a “painful story” of the country and the bankruptcy of its economy.

Sitharaman presented the Budget on February 1 that promised a significant increase in health and capital expenditure, and reforms including the privatisation of two state-owned banks and a general insurance company. It promised substantial government spending over the next five years and announced no major new taxes or levies.

In her reply to the Budget debate in Lok Sabha on Thursday, FM Sitharaman lashed out at the Congress and said that the grand old party brought reforms under compulsion. She also said that the inflation was double-digit during the previous UPA regime.

While explaining the government's intention to boost employment in the country, FM Sitharaman pointed out that Pradhan Mantri Mudra Yojana has created 1.2 crores additional employment since its launch in 2015.

She said there was indeed Andha Kal (dark age) in the country, but it was during the Congress rule, the Finance Minister said adding that rampant corruption, double-digit inflation, policy paralysis were part of the dark age under Congress rule.

Further highlighting the Modi government's work, FM Sitharaman said that 44 unicorns have been identified in this country. "They have created wealth. They showcase India's talent and innovation. This has happened between 2020 and 2021," she said.

She also pointed out that 44.58 crore accounts under Jan Dhan Yojana with Rs 1.57 lakh crore worth of deposits were opened in the financial year 2021-2022.