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
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