ICG celebrated its 45th Rising day

UNION BUDGET 2021-22

Presenting union budget for 2021-22 , finance minister Nirmala sitharaman listed 6 main pillars of union budget :

  • Health and well being
  • Physical and finance capital and infrastructure
  • Inclusive development for aspirational India
  • Innovation & R & D
  • Minimum Govt & maximum Governance

The key highlight of UNION BUDGET 2021-22 is here:

WhatsApp Image 2021 02 02 at 1.08.16 PM

Health and sanitation

The Atma Nirbhar yojana with outlay of Rs. 64,180 crore over 6 year to be launched to develop primary, secondary and tertiary healthcare in UNION BUDGET 2021-22.

Budget 2021 will also launch Mission Poshan 2.0 to recover malnutrition.

jal jivan Mission with outlay of Rs. 2.87 lakh.

Urban Swacch Bharat Mission 2.0 with outlay of Rs. 1.42 lakh crore.

Education

100 new sainik schools will be set up.

750 Eklavya schools to be set up in tribal areas.

A central university to come up in Ladakh.

Agriculture; union budget 2021-22

Five major fishing hubs to be developed to promote the fisheries sector.

A sea weed park is also planned in Tamilnadu.

1000 more Mandis to be integrated in to the E- NAM market place.

Infrastructure

Sitharaman announced vehicle scrapping policy: all vehicles will go testing after 15 years to ensure clean environment.

She also announced Development Financial Institution (DFI) , which will facilitate greenfield infrastructure providing 20,000 crore.

National infrastructure pipeline has been extended to 7,400 projects.

Highways and road works announced in Kerala, Tamilnadu, Assam and west Bengal.

This budget session also introduced Bharatmala pariyojana.

Budget session will also launch National Hydrogen Mission allocation Rs. 2,500 crore. Ocean Mission, allocation Rs. 4000 crore.

Gas pipeline projects has been set up in Jammu and Kashmir.

Pradhan Mantri Ujjawala yojana ( LPG scheme) to be extended to cover 1 crore more beneficiaries.

Complete, 100 % electrification of broad guage routes will be done by December 2023.

Economy and finance

The government has raised limit for Foreign Direct Investment ( FDI) insurance sector to 74 percent from 49 percent.

Government also includes Rs. 20,000 for recapitalisation of PSU bank.

An IPO of LIC to debut this fiscal.

A scheme to assist DISCOMS.

Tax

No change in tax – slab, no tax exemptions.

Tax exemption for notified affordable housing for migrant workers.

Infrastructure debt funds may issue tax efficient 0 – coupon bonds.

All nylon products charged with 5% custom duties.

Custom duties on cotton raised from 0 to 10 %

Duty on naphtha reduced to 2.5 %

Duty on copper scrap reduced to 2.5%.

Govt rationalised customs duties on gold and silver.

Employment

Social security to be extended to gig and platform workers.

Margin capital required from loans via standup India reduced from 25 % to 15 % for SCs, STS & women.

women will be allowed to work in all categories in night shifts .

For detailed information; CLICK HERE

https://taxguru.in/income-tax/summary-union-budget-2021-22.html

Leave a Comment

Your email address will not be published. Required fields are marked *