Budget 2021

Finance Minister Nirmala Sitharaman tabled the Union Budget for the current year in the Lok Sabha.

A compilation of key announcements made by Nirmala Sitharaman during the budget presentation:

1. Autonomous India activities will be extended to the health sector (Atma Nirbar Swasth Bharat Project). The project will be implemented in support of the National Health Movement.
2. A new project called Nutrition Movement 2.0 will be implemented. It will be implemented as an integrated project.
3. The Jaljivan project, which can maintain water levels, will be extended to urban areas as well.
4. An allocation of Rs 2,217 crore to control air pollution
5. Rs 35,000 crore has been earmarked for corona vaccination this fiscal.
6. The health sector has been allocated Rs 2,23,846 crore, 137 per cent more than last year.
7. In order to break down obsolete vehicles, vehicles that have been running for a commercial purpose for 15 years are eligible. Owners may voluntarily donate other personal vehicles for disassembly.
8. Introducing Mitra, a project to create world-class modern structures in the textile industry.
9. Efforts will be made to monetize assets in public sector undertakings to increase revenue.
10. Such monetization will be facilitated by the establishment of special routes in the railway sector and thereby the privatization of some more airports in the aviation sector.
11. There has been a significant increase in investment finances. That’s a 34.5 percent increase compared to last year’s financial statement.
12. Construction of 3,500 km of national highways in Tamil Nadu will begin next year at a cost of Rs 1.03 lakh crore. These national highways will be constructed on the Madurai-Kollam and Chittoor-Thachur routes.
13. The second phase of the Chennai Metro Rail project will cover a distance of 118.9 km at a cost of Rs 63,246 crore.
14. Indian National Railway Plan 2030 has been prepared. Under this project, various new railway lines will be constructed and special freight routes will be developed.
15. All wide gauge railway lines will be 100 per cent electrified by December 2023.
16. 1,18,101 crore for road transport and highways.
17. 18 thousand crore new project to improve public bus transport. This will inspire and inspire the auto mobile industry.
18. The project will help improve public transport in urban areas and create employment for the youth.
19. There has been an increase in power generation to 139 GW.
20. 1,07,100 crore has been earmarked for the railway sector as investment expenditure.
21. In order to introduce the Green Energy Project, a hydrogen fuel project will be implemented.
22. A new project called Commercial Shipping will be launched. 1,624 crore will be allocated for this project over the next five years.
23. The Ujwala project has provided cooking gas to 8 crore households. The program will be expanded to 100 more cities over the next 3 years. A pipeline supply of cooking gas will be introduced in Jammu and Kashmir.
24. An economic and technical terminal will be set up in Gujarat.
25. Foreign investment in the insurance sector is allowed up to 74 percent, with security rules.
26. The Companies Act 2013 is to be amended to benefit smaller companies as well.
27. A new system has been set up to help consumers who invest in financial institutions know their rights and resolve grievances.
28. Emphasis has been placed on new developments in the computer industry such as data analytics, artificial intelligence, and machine learning.
29. Two public sector banks and an insurance company will be privatized.
30. Following LIC's appropriate legal amendment, the shares will be issued.
31. States may decide to sell shares in public sector companies under their control.
32. A separate body (SPV) will be set up to identify non-revenue assets of the state and make them eligible for revenue.
33. The plan is to raise Rs 1,75,000 crore in the coming financial year by selling shares of public sector companies.
34. The government is committed to protecting the interests of farmers.
35. The minimum support price for agricultural products has been raised by one and a half times. Similarly, purchases have been significantly increased.
36. Due to the increased minimum support price for paddy and wheat, a large number of farmers have benefited.
37. 16.5 lakh crore to farmers in the coming financial year. Decision to provide additional credit facilities to the livestock, dairy and fisheries sectors.
38. 1.68 lakh crore people are registered under the e-Nam scheme for marketing agricultural products. A further 1,000 mandis are connected online under the e-Naam scheme.
39. Funds are being allocated to set up a multipurpose seaweed park in Tamil Nadu.
40. Loan facility through Special Structure Fund through Agricultural Product Sales Centers in the States to strengthen the agricultural infrastructure
41. The minimum wage will be set for all types of workers.
42. A website will be launched to protect the welfare of construction workers.
43. An appropriate plan will be introduced to ensure that women work night shifts in all sectors with adequate security.
44. 15,700 crore for small and medium enterprises.
45. 100 new Sainik schools are to be started.
46. A new Central University is to be started in Leh.
47. 750 new Ekalaiva schools in hilly areas.
48. An allocation of Rs. 35,219 crore has been made to help Adithra students in the next 6 years.
49. Introduction of Revised Scholarship Scheme for Post Grade 10 Education for Adithravita Students.
50. 50,000 crore over the next five years for the National Research Center.
51. New Space India will be launched as a new public sector undertaking under the Indian aerospace industry. Through this PSLV CS51 transmission vehicle will be developed.
52. The unmanned space shuttle Kaganyan will be launched in December 2021.
53. A deep-sea exploration system will be set up to carry out deep-sea exploration and build biodiversity.
54. An allocation of Rs. 100 crore for the welfare of tea garden employees and their children.
55. The National Nurse and Medical Assistant Commission bill is about to be tabled.
56. The single country-single family card scheme for migrant workers will be actively implemented.
57. The fiscal deficit for the current fiscal year is estimated at 9.5 percent of GDP.
58. The fiscal deficit is projected to be 6.8 percent in the coming fiscal year.
59. The plan is to reduce this deficit to 4.5 percent by 2025-26.
60. The government plans to raise Rs 12 lakh crore from the open market in the coming financial year.
61. Plan to launch a national translation movement to promote the country's indigenous languages.
62. The final report of the 15th Finance Commission was submitted last December. Action will be taken based on the recommendations of the comments made therein.
63. Corporate business tax rates are one of the lowest in the world.
64. Senior citizens over the age of 75 are exempt from filing income tax returns for the benefit of senior citizens, with only pension and interest income.
65. A new grievance redressal system will be established to resolve personal income tax returns.
66. New scheme to exempt Indians living abroad from double taxation.
67. All measures will be taken to attract foreign investment in the construction sector.
68. The federal government has decided to exempt sectors including the housing sector and aircraft rental companies from the tax for one more year. It will be useful for promoting domestic air travel and for low-cost housing projects.
69. The tax exemption on investment income invested in start-ups is extended next year as well.
70. Introduction of 10 per cent tariff on cotton.
71. Customs duty on silk and silk yarn also increased from 10 to 15 per cent
72. Increase in tariffs on imports of solar power infrastructure products to boost domestic production

source: oneindia.com