Budget 2021 Highlights β Finance Minister Nirmala Sitharaman presented the Government of Indiaβs #UnionBudget for the year 2021-22 on 1st Feb. Here are the highlights and key takeaways of this #budget2021.
What does this video cover?
00:00 β Introduction
00:11 β Health & Wellness
00:31 β Unveiling Swachh Bharat 2.0
00:52 β The Fiscal Deficit
01:04 β Bank Recapitalization
01:22 β Disinvestment
01:35 β LIC IPO
01:48 β Tax Proposals
02:04 β Scrapping Policy
02:15 β Big Boost to Insurance Sector
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What is the Indian Governmentβs strategy for managing the fiscal deficit for FY22?
βΊ Borrowing of βΉ12,00,000 crores
βΊ Strategic divestment of 2 public sector banks and 1 general insurance company.
βΊ Initial Public Offering (IPO) of LIC of India
βΊ Sale of Air India and BPCL
βΊ Sale of non-core assets like surplus land
Health & Wellness Government has allocated 35,000 Cr for Covid Vaccine Government to launch health scheme worth Rs 64,180Cr over next 6 years Government will allocate Rs 2.24 Lakh Cr to health care in FY2022.
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Clean India Mission government will allocate Rs 1.41 lakh crore for Urban Clean India Mission. This will be spent on Urban Swachh Bharat 2.0 Mission over 5 years. Jal Jeevan Mission Urban to have an outlay of Rs 2.87 lakh crore.
Fiscal Deficit Fiscal Deficit in FY21 pegged at 9.5% of GDP. Fiscal Deficit target for FY22 is at 6.87% of GDP. FY21 Capex was at Rs 4.39 Lakh Cr.
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Bank Recapitalization Government allots Rs 20,000Cr in FY22 for bank recapitalization. Government to divest stake in 2 PSU banks and 1 General Insurance company in FY22. Bank Nifty rallies 8.26% on measures to clean up the NPAs, PSB recap.
Disinvestment The government sets divestment target at Rs 1.75 Cr for FY22. SCI, BEML and Concor divestment target to be completed in FY22.
LIC IPO LIC IPO is likely to be announced in FY22 Legislative amendments will be launched in the budget sessions
Tax Proposals Exemption from filing income Tax returns for senior citizens (75 years and above) who only have Pension &interest income. Deducation on payment of interest for affordable housing extended by 1 year Nifty reality
Scrappiung Policy FM announced a voluntary vehicle scrapping policy to phase out old vehicles Nifty auto gained 4%
Big boost to Insurance Sector Increases FDI limit in sector to 74% from 49%
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#budget2021
Budget 2021 highlights: Check key points of Union Budget 2021-22
economy budget 2021 highlights check key points of union budget 2021-22
Budget 2021 Highlights: Rs 35,000-cr shot for vaccine, no changes in tax slabs; farm cess of Rs 2.5/litre on petrol
Budget 2021 Highlights and Important Points: Nirmala Sitharaman said the budget for 2021-22 rests on six pillars β from healthcare to infrastructure. She also announced a total spend of around Rs 2 lakh crore on healthcare.
Budget 2021 Highlights: Govt to rationalise custom duties on gold, silver
Union finance minister Nirmala Sitharaman presented the Union Budget 2021 in Parliament on Monday.
The finance minister provided a major boost to healthcare and infrastructure in Union Budget 2021. However, there was no change in Income Tax slabs this year.
In her speech, the finance minister mentioned that this yearβs budget proposals rest on six pillars β health and well-being, physical, financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D and minimum government and maximum governance.
Here is a look at the highlights of the budget.
Union Finance Minister Nirmala Sitharaman on Monday (February 1) announced a package of totalling Rs. 27.1 lakh to deal with COVID-19 pandemic under Atmanirbhar Package while presenting the Union Budget 2021 in the lower house of Parliament. This is the first paperless budget in the history of independent India.
Here are the key highlights of the Union Budget 2021-22:
The government has announced a package of totalling Rs. 27.1 lakh to deal with COVID-19 pandemic under Astmanirbhar Package. Aatmanirbhar package has accelerated the structural reforms across the country. India has started the nation-wide vaccination programme which is the largest in the world.
India has approved two vaccines (Covaxin and Covishield) and two more vaccines will be launched soon said Finance Minister Nirmala Sithraman. The government will provide Rs. 35,000 crore for COVID-19 vaccination. The Finance Minister has committed to providing more funds.
Finance Minister Nirmala Sithraman has proposed introduction of Aatmanirbhar Swastha Bharat health program with an outlay of Rs. 64,180 crores, this will act as an addition to the existing National Health Mission.
Health and well-being
β Physical and financial capital and infrastructure
β Inclusive development for aspirational India
β Reinvigorating human capital
β Innovation and R&D
β Minimum government and maximum governance
Mission Poshan 2.0
The government will be launching Mission Poshan 2.0, Jal Jeevan Mission Urban will be introduced. Finance Minister said that β The urban Swachh Bharat Scheme will be implemented with an outlay of over Rs. 1.4 lakh crore.
Vehicle Scrapping Policy
The government has launched the voluntary scrapping policy in order to remove unfit/ outdated vehicles from the streets. Passenger vehicles beyond 20 years and commercial vehicles beyond 15 years will need to go through a vehicle fitness test.
Road development in Bengal gets Rs. 95,000 crore
Finance Minister Nirmala Sitharaman announced Rs. 95,000 crore for the development of roads in the state of Bengal. The still will conduct polls in coming months.
11,000 km of National highway infrastructure in 2021
Finance Minister Nirmala Sitharaman said that β Government aims to complete 11,000 km of national highway infrastructure this yearβ Tamil Nadu gets a corridor of 3,500 km. Kerala will get 1,100 km which includes investment worth Rs. 65,000 crore. 675 km in West Bengal which costs Rs. 95,000 crore. 1,300 km in Assam promised over next three years.
Rs. 1.10 lakh crore allotted for Indian Railways
Finance Minister Nirmala Sitharaman announced Rs. 1.10 lakh crore to Indian Railways, Rs. 1.7 lakh crore is for the capital expenditure of the allotment.
Finance Minister Nirmala Sitharaman announced Central fiscal funding to Bangalore Metro, Chennai Metro, Nagpur Metro, Kochi Metro, Nashik Metro projects across the nation.
Rs. 3.05 lakh crore for Power sector
Finance Minister Nirmala Sitharaman announced Rs. 3.05 lakh crore for the power sector in the country. Finance Minister added that 100 more cities will be added to the Gas distribution network in the next three years.
Gas pipeline project in Jammu and Kashmir
Finance Minister Nirmala Sitharaman announced a brand new gas pipeline project for the development of Jammu and Kashmir.
Rs. 20,000 crore for Public sector banks
Finance Minister Nirmala Sitharaman announced further infusion of Rs. 20,000 crore for the public sector banks.
LIC IPO to launch this year
Finance Minister Nirmala Sitharaman said that βThe government plans to sell part of holding in Life Insurance Corporation of India (LIC) through an initial public offering (IPO) in the coming year. An amendment to the existing Act to facilitate the public offer.β
