Budget 2021 Key Highlights: FM’s Emphasis On Healthcare

Budget 2021 Key Highlights: Finance Minister’s emphasis on Healthcare, Infrastructure Sector, these announcements on the tax front.

Finance Minister Nirmala Sitharaman presented the blueprint of New India to the country through the budget of 2021-22.

Setting an unprecedented budget (Union Budget 2021) against the backdrop of the Corona epidemic, Sitharaman has emphasized employment generation through investment in the healthcare, infrastructure sector.

He said at the beginning of his speech that the government has brought many mini budgets since the Covid-19 crisis. The budget presented by Sitharaman is based on six major pillars.

This time budget became paperless due to the Corona epidemic. The Finance Minister presented his third budget through a tab.

India Budget 2021 Key Highlights: The special things related to the budget are as follows:

Union Budget 2021: After the end of the budget speech of Finance Minister Nirmala Sitharaman, there was a lot of boom in the stock markets.

At 01:12 pm, BSE was trending at 47,776.77 on Sensex with a rise of 1,491 points, or 3.22 percent. At the same time, NSE Nifty was trending at a level of 14,073.10 points with an increase of 438.50 points i.e. 3.22 percent.

Sitharaman presented the report of the 15th Finance Commission to the Lok Sabha.

Sitharaman made several important announcements for the elderly in his budget speech. She said, “In the 75th year of independence, the country is working with new energy.

Now we do not want to impose any more burden on senior citizens above 75 years. Now senior citizens over the age of pension income will not be required to file tax returns.

The bank will do the deductions from the income tax.

The Finance Minister has proposed to make the customs duty on gold and silver more rational.

Sitharaman has proposed to increase customs duty on some auto parts, solar parts in FY 2021-22. Apart from this, it has also been announced to increase customs duty on cotton, raw silk.

Sitharaman has proposed imposing infra development cess on some goods.

The Finance Minister said that only after the payment of the dividend, the income from the dividend will be liable to advance tax.

Sitharaman said that the government has proposed a relaxation in regulations to attract more investment in the infrastructure sector.

Sitharaman said that deduction will be extended for one year on payment of interest of Rs 1.5 lakh for affordable housing.

She said that the tax holiday for startup companies is extended for one year. The rebate on capital gains from investments in startups was extended for another year.

Sitharaman has proposed to extend the exemption for notifiable Affordable House for migrant laborers and interest in Affordable Housing for one year.

Finance Minister Nirmala Sitharaman said the fiscal deficit is estimated to be 9.5 percent in the current financial year. Sitharaman has projected the fiscal deficit to be 6.8 percent in the next financial year.

The government has increased the allocation for the development of the infra sector in rural areas to Rs 40,000 crore in the budget of 2021-22.

The Finance Minister has announced the creation of five major fishing hubs. He said that 1,000 more mandis would be connected to the electronic national market.

She added that social security benefits would be expanded to platforms and gig workers.

The government has increased the allocation for the development of the infra sector in rural areas to Rs 40,000 crore in the budget of 2021-22.

Nirmala Sitharaman said that the government is committed to the welfare of farmers. He said that agricultural procurement has increased gradually, which has benefited the farmers.

Sitharaman said that 43.36 lakh wheat farmers have benefited from the government’s MSP scheme. This figure is earlier at 35.57 lakhs.

The farmers have been given an MSP of Rs 75,100 crore on wheat in the financial year 2020-21. Sitharaman has announced to increase the Agri Credit target to Rs 16.5 lakh crore in FY 2021-22.

The government has announced an Rs 18,000 crore scheme to further improve public transport in urban areas. He said that by December 2023, broad gauge railway lines would be fully electrified.

2.87 lakh crore rupees for urban life mission in urban-rural areas in next five years: Sitharaman.

The Finance Minister said that Mission POSHAN 2.0 will be launched through the merger of supplementary nutrition program and POSHAN campaign.

Under this, nutritional outcomes will be improved in aspiring districts to strengthen nutritional content, distribution, and outcomes.

The Finance Minister said that BPCL, Air India, Shipping Corp, Container Corp, and other disinvestments will be completed this year. She said that the IPO of LIC will come in FY 2021-22.

Sitharaman said that NITI Aayog will prepare a list of government companies that will be disinvested in the next phase.