Union Budget Live Highlights from Budget 2021
Union Budget Key Highlights – Hello, Let’s Study Together Readers, As you all know that finally today is New Union Budget 2021 Declared by Our Finance Minister Nirmala Sitharaman.What are the benefits and losses of this Union Budget 2021?Here we are providing a Key Highlights of Union Budget 2021.So Let’s begin.
Delhi- Copies of #Budget2021 have been brought to the Parliament. Finance Minister Nirmala Sitharaman will present the Budget in Lok Sabha at 10 AM today.
Budget Updates 2021
- First of six pillars Aatmanirbhar Yojana in addition to the National Health Mission: We introduce the Aatmanirbhar Health Yojana with an outlay of Rs 64,180 crore over six years. This will strengthen the National Centre for Disease Control. Besides this, the government will also set up 15 Health Emergency Centres.
- Urban Swachh Bharat Mission 2.0 will be implemented with a total financial allocation of ₹1,41,678 crore over a period of 5 years from 2021-2026.
- ₹35,000 crore have been allocated for #COVID19 vaccine in BE 2021-22.
- FDI limit in insurance sector increased from 49% to 74% and foreign ownership & control allowed with safeguards.
- Rs. 20,000 crore recapitalization of PSBS during 2021-22
- Government to consolidate the provisions of SEBI Act, 1992, Depositories Act, 1996, Securities Contracts (Regulation) Act, 1956 and Government Securities Act, 2007 into a rationalised single Securities Markets Code.
- 34.5 % increase in capital expenditure with be of Rs. 5.54 lakh crore. (More than Rs. 44,000 crore for projects/programmes/departments showing good progress)
- Fiscal deficit pegged at 9.5% of GDP in Revised Estimates (RE) 2020-21
- Conciliation mechanism to be set up for quick resolution of contractual disputes with Government/CPSES.RS. 3,768 crore allocated for the first digital census in the country.
- Agri infra cess of 30% on kabuli chana, 10% on peas, 50% on bengal gram/chick peas, 20% on lentil (mosur); 5% on cotton imposed in Budget
- Agri infra cess of 2.5% imposed on gold, silver and dore bars; 35% on apples; 5% on specified fertilizer; 1.5% on coal, lignite and peat
- Agri infra cess of 100 pc imposed on alcoholic beverages
- Agri infra cess of 17.5% on crude palm oil, 20% on crude soyabean, sunflower oil imposed
- FM Nirmala sitharaman announces key initiatives in the Petroleum & Natural Gas Sector.
- Ujjwala Scheme will be extended to cover 1 crore more beneficiaries,
- Gas pipeline project will be taken up in the Union Territory of J&K
- Budget proposes qualitative strengthening of 15,000 schools to include all components of national education policy – 100 new Sainik schools to be set up in partnership with NGOs/private schools/ states.
- Union Budget for 2021-22 gives boost to public transport in urban areas Black small square A new scheme with Rs.18,000 crore proposed to support public bus transport service.
- Commitment of financial outlay of RS 1.97 lakh crore in the next 5 years starting FY 2021-22 for PLI schemes in 13 sectors
- 7 new textile parks to be launched over 3 years.
- National research foundation outlay to be RS 50,000 crore, over 5 years.
- RS 1,500 crore proposed for scheme to promote digital modes of payment.
- National Language Translation Mission to digitise the wealth of Governance-and-Policy related knowledge in major Indian Languages.
- PSLV-CS51 launch by New Space India Limited to carry Brazilian Amazonia Satellite among Indian Satellites; Gaganyaan Mission slated to be launched in December 2021.
- Five year budget outlay of Rs 4,000 Crore for deep ocean mission.
- Decriminalisation of the Limited Liability Partnership (LLP) Act, 2008 proposed Revision in ‘Small Companies’ definition.
- Proposed Easing of Rules in ‘One Person Companies’ for Start-Ups, Innovators Strengthening of NCLT Framework for faster Debt Resolution.
- Proposed Launch of New MCA21 version 3.0
- Rs.1000 Crore to be provided for Welfare Scheme for tea workers of Assam and West Bengal especially Women and Children.
- National Apprenticeship Training scheme to be realigned with a provision of over Rs. 3000 Crore.
- Senior Citizens above 75 years of Age, Having Pension & Interest Income exempted from Filing Tax Return.
- Number of return fillers increased from 3.31 Crore to 6.48 Crore in 6 years.
- Record Outlay of Rs 1,10,055 Crore for Railways, of which Rs1,07,100 Crore for Capital Expenditure.
- National Rail Plan for India to create “Future Ready” Railway System by 2030.
- Western Dedicated Freight Corridor (DFC) and Eastern DFC expected to be commissioned by June 2022.
- Future DFC projects namely East Coast Corridor, East-West Corridor and North-South Corridor to be undertaken.
- Introduction of more vista dome LHB coaches on tourist routes.
- Customs duty hiked proposed on some mobile parts, auto parts and cotton.
- National Commission for Allied Healthcare Professionals Bill introduced, to ensure transparent and efficient regulation of 56 allied healthcare professions.
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