UNION BUDGET 2021- 2022

INFRASTRUCTURE

  • Vehicle scrapping policy is launched, all vehicles to undergo a fitness test in automated fitness centers every 20 years (personal vehicles), every 15 years (commercial vehicles).

  • Created National Rail Plan to bring a future ready Railway system, 100% electrification of Railways to be completed by 2023.

  • Metrolite and Metroneo services are announced in 27 cities.

  • The FM proposes a total of Rs.1,18,101 lakh crore for the Ministry of Road Transport and Highways.

EDUCATION

  • 100 new Sainik schools to be set up.

  • Government to set up Central University in Leh.


COVID-19 VACCINE

  • India has 2 vaccines: two more to be launched.

  • Government to provided Rs 35.000 crore for vaccination in 2021-22.


HEALTH AND SANITATION

  • PM Atma Nirbhar Swasthya Bharat Yojana launched to develop primary, secondary and tertiary healthcare.

  • 17 new public health units at points of entry. modernizing of existing health units at 32 airports, 15 seaports and land ports

  • Jal Jeevan Mission outlays 2.87 lakh crores aiming to provide full-fledged water supply to all urban local bodies with household tap connections.


AGRICULTURE

  • Expansion of Operation Green scheme to include 22 perishable products.

  • 1000 more mandis to be integrated with e-NAM.


SOLAR ENERGY

  • FM grants Rs.1,000 crores to the Solar Energy Corporation of India for the growth of the Solar Energy Sector.

  • Duty on solar items increased from 5% to 20% as to urge manufacturing of solar items in India.


ECONOMY

  • FY21 expenditure target revised to Rs 34.50 trillion.

  • FY22 fiscal deficit pegged at 6.8% of GDP. 9.5% in FY21.

  • Government to approach market for additional Rs 80,000 crore to fund FY21 fiscal deficit.


DISINVESTMENT

  • All disinvestments that have been announced so far are to be completed in FY22.

  • Policy for disinvestment in strategic, non-strategic sectors approved by government.


TAX ANNOUNCEMENTS

  • Tax audit limit rose from Rs 5 crore to Rs 10 crore in certain cases.

  • Advance tax rules eased on dividend receipts.

  • Dividend payment for REIT and InVIT exempted from tax.


TAX BONANZA FOR SENIORS

  • Senior citizens above 75 years exempted from filing income-tax returns.

  • The paying bank will deduct the tax on their behalf.

16 views

Related Posts

See All