Budget 2021 - 2022 Summary For the first time under such a pandemic and circumstances, the budget was prepared. This budget was the first budget of this new decade and was completely digital. Last Year nobody could have imagined that the global economy would get slowdown and would see an unusual contraction. The Prime Minister declared "Pradhan Mantri Garib Kalyan Yojna" within 48 hours of the declaration of a 3weeks lockdown. The scheme is valued at Rs. 2.6 lakh crore for needy people. In May 2020 Government announced "Atmanirbhar Bharat " package 1.0, 2.0, and 3.0 which is estimated at about Rs. 27.1 lakh crore which is more than 13% of India's GDP The budget depends on 6 pillars: → Health and well being →Physical and Financial Capital and Infrastructure →Inclusive Development for Aspirational India →Reinvigorating human capital →Innovation and R&D →Minimum government and maximum governance To develop primary, secondary, and tertiary care health system,...
Continued... 6) Oil and Gas Exploration & Production Source Reliance Industries Ltd. Annual Report 2019-20 Financials The company saw a drop in revenue of 35.8% from 5005 in FY 2018-19 to 3211 in FY 2019-20. The company saw a drop in EBITDA of 78.5% from 1642 in FY 2018-19 to 353 in FY 2019-20. This drop in revenue and EBITDA were as volumes from domestic upstream fields and US shale was lower because of natural decline and slowdown of in development activity. For the year, domestic production (RIL share) was at 38.8 BCFe, down 34.1% y-o-y and in US Shale, the business was 80.4 BCFe, down 14.9% y-o-y basis. RIL(Reliance Industries Ltd.) History Dhirubhai Ambani, Father of current Chairman Mukesh Ambani, returns to India in 1957 after a stint with A. Besse & Co., Aden, Yemen. He starts a yarn trading business from a small 500 sq. ft. office in Masjid Bunder, Mumbai, but dreams of establishing India’s largest company. In 1977 Reliance Textile Industries went public with its I...