Union Budget 2021 – 22 Decoded
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Let’s begin with an interesting topic today ” Union Budget 2021 – 22 Decoded “.
In this post we will go through the important key points from the recently concluded union budget.
The Finance minister of India Nirmala Sitharaman proposed the the budget for the upcoming financial year.
Let’s have a look at the some important key points out of this budget.
The main points from sector wise are highlighted as follows :
Health And Sanitation
- This sector was given the most emphasis.
- A total of 2.2 lac crores was allotted to this sector mainly for COVID – 19 vaccine.
- A new scheme, titled PM Atma Nirbhar Swasthya Bharat Yojana, to be launched to develop primary, secondary and tertiary healthcare
- Mission POSHAN 2.0 to enhance nutritional outcomes across 112 aspirational districts
- Jal Jeevan Mission Urban aimed toward better water system nationwide
- Strengthening of Urban Swachh Bharat Mission
- The education sector was given a boost with new sainik schools to be set up and Eklavya schools in tribal areas.
- New startups were encouraged with the Production Linked Incentive Scheme.
- Reopening window for IT assessment cases reduced from 6 to three years.
- Affordable housing projects to urge a tax holiday for one year
- A portal to be launched to take care of information on gig workers and construction workers
- Margin capital required for loans via Stand-up India scheme reduced from 25% to fifteen for SCs, STs and ladies.
- Nearly 2 lac companies were included in MSME. (Micro, Small, Medium Enterprises).
- Agriculture infrastructure fund was budgeted for APMCs to enhance their infrastructure
- Five major fishing hubs to be developed
Economy And Finance
- Fiscal deficit stands at 9.5% of the GDP; estimated to be 6.8% in 2021-22
- Proposal to permit States to boost borrowings up to 4% of GSDP this year
- Proposal to extend FDI limit from 49% to 74%
- Deposit insurance increased from Rs 1 lakh to Rs 5 lakh for bank depositors
- Proposal to decriminalise indebtedness Partnership Act of 2008
- An IPO of LIC to debut this fiscal
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