Highlights of Union Budget 2021 | Fusion - WeRIndia

Highlights of Union Budget 2021

Highlights of Union Budget 2021

Union Finance Minister Nirmala Sitharaman presented the Union Budget in Parliament for the financial year 2021-22. Sitharaman said that this year’s budget proposal depends on six pillars. These include health and well-being, infrastructure and inclusive development, physical and financial capital, innovation and R&D, strengthening human capital, and Minimum Government, Maximum Governance.

Here are the highlights of Budget 2021:

  • The finance minister announced a new healthcare scheme, PM Atma Nirbhar Swasthya Bharat Yojana to develop primary, secondary and tertiary healthcare. The central government will allocate ₹64,180 for this scheme for over six years.
  • The government proposed to modernize health units at 32 airports, 15 seaports and land ports.
  • It is also proposed to launch the Jal Jeevan Mission (Urban) to provide better water supply in urban local bodies. The mission will be implemented in five years with an outlay of ₹2,87,000 crores.
  • Urban Swachh Bharat Mission will be strengthened.
  • The Centre proposed to set up 100 new Sainkik schools in association with NGOs and 750 Eklavya model schools in tribal areas. To promote higher education in Ladakh, the government also decided to set up a Central University in Leh.
  • Vehicle scrapping policy has been proposed to phase out old and unfit vehicles. All vehicles should undergo a fitness test after a specific time. It is 20 years for personal vehicles and 15 years for commercial vehicles.
  • The government announced highway and road expansion funding for four states – Kerala, Tamil Nadu, West Bengal and Assam.
  • Complete electrification of Railways will be finished by 2023.
  • Jammu and Kashmir will get a gas pipeline project. PM Ujjawala Yojana will be extended to 1 crore additional beneficiaries.
  • There is no change in the existing income tax slabs. However, senior citizens above 75 years are exempt from filing ITR. Tax holiday for startups has been extended by one more year.
  • It is proposed to disinvest two PSU banks and one general insurance company.
  • Initial public offer of LIC will be introduced in this year.
  • Tamil Nadu will have a multipurpose seaweed park. Five major fishing hubs will be developed further.
  • The government proposed to launch a portal for gig workers and construction workers to maintain their information.

Image by Rilsonav from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/illustrations/money-time-and-money-1132279/

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