The National Informatics Centre (NIC) developed the application under the guidance of DEA – Department of Economic Affairs that will include the Annual Financial Statements (Budgets), Finance Bill, Demand for Grants (DG), and facilitating the access to 14 Union Budget documents.
The Union Budget mobile application is bilingual and is available on the Apple App Store and Google Play Store to make it easy for the users to access it. Users can also download the application from the
Web Portal of Union Budget. Other than dua languages, several features are included in the application like search, printing, bidirectional scrolling, external links, table of content, downloading, zoom in and out, etc. The users will have all the documents of the Union Budget 2021 stated by the Finance Minister in the parliament once the speech is presented.
There is a buzz around the Union Budget 2021 after fighting the battle against the pandemic that is scheduled for 1st February 2021. Users are keen to know how this budget will help in recovering from the losses occurred in 2020. On top of that, this budget is going to be the first paperless budget presented in the parliament.
Naveen Aggarwal, Partner, Tax KPMG in India stated that the Budget 2021 is going to be the most challenging budget for the pandemic ridden economy. Everyone is hopeful to have the foundational support of the operating environment with this budget finding out the resolution of digital taxation.
Along with this, the virtual working format is now going to become a norm instead of the aberration for the technology services sector. It is essential to have clarity on the setup to get accurate results based on the IT-ITeS units eligible for the income-tax holiday.
Satya Prabhakar, CEO and founder of Sulekha said that the COVID pandemic sends devastating and lethal blows on the service sector along with the sharp decline for businesses. The companies were under lockdown for several months and working from home. In such a case, SME came up as the backbone for the economy making it essential to bring some relief to them with GST-free spending and fast-approval guarantee-free loans to back up their businesses.