Union Finance Minister Nirmala Sitharaman is presenting Union Budget 2021. Nirmala Sitharaman on Monday began her Budget 2021 speech by saying that the coronavirus pandemic “is the dawn of a new era, one in which India is poised to be a land of new hope”. Below are the key highlights from FM’s budget speech.
- Higher Education Commission, an umbrella body, to be set up.
- 7 textile parks to be set up in 3 years.
- Customs duty on cotton raised to help farmers.
- First unmanned satellite mission in December 2021.
- Rs 1,10,055 crore for Indian Railways
- Over Rs 1 lakh crore allocated for highway projects in Tamil Nadu
- Tax holiday for affordable housing projects
- Record GST collections in the last few months, says FM.
- The I-T exemption for start-ups has been extended up to March 31, 2022.
- Dispute resolution panel for small tax payers.
- Highway infra work proposed includes building 8,500-km of highways by March 2022. This includes 3,500 km corridor in Tamil Nadu, 1,100 km in Kerala at investment of Rs 65,000 crore, 675 km in West Bengal at a cost of Rs 95,000 crore.
- Senior citizens older than 75 years old with only pension as the source of income need not file income tax return.
- Union finance minister Nirmala Sitharaman set the agriculture credit target at 16.5 lakh crore.
- FDI in insurance was increased to 74 percent from 49 percent
- Life Insurance Corporation (LIC) would go for IPO in 2021-22 for which requisite amendments would be made.
- Government allots Rs 20,000 crore for bank recapitalisation.
- Proposal to launch hydrogen energy mission next fiscal for generating hydrogen from green power sources.
- Centre to provide Rs 18,000 crore for public buses.
- City gas distribution network of providing CNG to automobiles and piped cooking gas to households in 100 more districts.
- Rs 3,768 crore allocated for Digital census to be held in FY 2021-22
- Virology Centers: In the wake of Covid-19 pandemic that wreaked havoc in people’s lives and economy across the world, regional institutes for virology would be set up across the country.
- 750 new Ekalavya model schools to be set up
- Development of world-class fintech hub
- Rs 2,217 for urban centres to check pollution
- Multi-purpose seaweed park to come up in Tamil Nadu.
- FY22 agriculture credit target at Rs 16.5 lakh crore.
- 5 major harbours to be developed in the country.
- 100 new Sainik Schools to be set up.
- Petroleum and Natural gas: Ujwala scheme benefiting 8 crore people till now to be extended for 1 crore beneficiaries.
- Gas pipeline project to be taken up in J&K.
- Rs 1,14,678 crore for Swachh Bharat Mission.
- Rs 5.54 lakh crore allocated for capital expenditure
- New economic corridors planned to boost road infrastructure
- Outlay of Rs 25,000 crore for road projects in West Bengal
- Over Rs 64,180 crore earmarked for new health scheme
- 100% electrification of broad gauge routes will be completed by 2023.
- Mega textile parks to be launched.
- Outlay of Rs 25,000 crore for road projects in West Bengal.
- Metro lite and Metro Neo will be introduced in tier-2 cities
- Chennai and Kochi, Nasik and Nagpur metro phase -II get budget allocation
- Rs 1,18,000 crore for ministry of roads
- Rs 2.87 lakh for Urban Jal Jeevan Mission
- Rs 64,180 crore will be invested over 6 years to improve primary, secondary and tertiary healthcare. This is in addition to National Health Mission, announces Finance Minister Nirmala Sitharaman.
- Nirmala Sitharaman announces outlay of Rs 2.87 lakh crore for Jal Jeevan Mission.
- During the lockdown last year, PM Modi announced the Pradhan Mantri Gareeb Kalyan Yojna worth 2.76 lakh crore for the poor and the needy, says FM.
- The total financial impact of all Aatmanirbhar Bharat packages, including measures taken by RBI, was about Rs 27.1 lakh crore, more than 13% of GDP, says FM.
- Nirmala Sitharaman says 217 projects worth over Rs 1 lakh crore completed under National Infrastructure Pipeline.
- Income taxpayers listening to expenditure proposals and wondering
- FM Sitharaman announces new scrappage policy – 20 years in case of personal vehicles and 15 years in case of commercial vehicles.
- The total budget outlay for healthcare is 2.23 lakh crore. This is an increase of 137% from last year, says FM.
- FM announces Rs 35,000 crore for Covid-19 vaccines.
- Today, India has two vaccines available and has begun safeguarding not only its citizens but also those from hundreds of other countries.
- Rish of not having lockdown in India is far too high, says FM.
- The Aatmanirbhar packages introduced by the government were like 5 mini budgets themselves
Tags Budget 2021 Budget 2021 Highlights Budget 2021 Live Updates FM Nirmala Sitharaman Recommended
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