Nirmala Sitharaman, the finance minister of India has presented to Union Budget 2021-11. The budget can be called a survival to revival budget. Here are the Key Highlights from the Budget Speech.
- Coronavirus and its updates: – The budget was started from the deterioration in the Indian economy due to coronavirus. The GDP was shrunk by 24% but is increasing now towards the end of the pandemic. The vaccines which are being made in Indian are about to be out for the common people. The Atmanirbhar Bharat package released in May 2020 cost 2.76 lakh crore rupees. The 80 crore people were provided with food and basic needs. She thanked people for the support and for showing patience. She mentioned that India has produced two vaccines with the help of Indian scientists and credited to the scientist. The corona vaccine will also be shared with 100 more than countries.
- Indian youth and cricket: – The performance of the Indian cricket team in a match in Australia was also talked about. It has reminded us of a lot of good qualities and success achieved by young Indians. It is the digital budget and is possible only with people’s acceptance.
- History and mortality:- India has the very lowest death rate and lowest active cases of the coronavirus. It is the 75th year of independence of India and 50 years of India’s Pakistan war.
- Coming missions: – The Chandrayan mission 3 and Haridwar maha kumb missions will also be successful this year 2021. She also talked about Atmanirbhar Bharat and encouraged the skills of Indians.
- Indian Economy strengthens ideas: – Doubling farmer’s income, strong infrastructure, healthy India, good governance, opportunities for youth, education for all, women empowerment, inclusive development, and on the path to fast development is the 13 promises made by the budget to the people. The investment in the health budget is increased.
- Health and its updates:- The three are preventive, curative and well-being would be strengthened. The new scheme of the PM Atmanirbhar Bharat, Swasth Bharat Yojana will be launched for over 6 years and strengthen the health institutions and cure the major diseases, existing and other coming. Support for health and wellness centers, setting integrated health labs, establishing hospital blocks, and expansion of integrated health information portals are the major points of the new scheme.
- Food and nutrition: – The supplementary nutrition and portion Abhiyan will be merged together and a new mission portion 2.0 will be launched to improve nutritional outcomes.
- Water and environment: – Clean water and a clean environment will also be provided, Jal sevan mission for saving and supplying pure water will be launched at universal water supply and new household connections will be provided.
- Savage and its policy: – The source segregation of garbage and waste of all types would be managed. The scrapping policy to face old and unfit vehicles will be launched to provide a safe environment.
- Industrial schemes: – The schemes for manufacturing sections PLI schemes will be announced and 1.97 lakh crores have been provided to the government. More jobs would be provided to youth. The mega-investment textile will be launched to create a world-class infrastructure to draw new jobs and attract large investments.
- The NIP is the specific target of government would be achieved. By creating the institutional structure, big crust on assets, and by enhancing the share of capital expenditure the infrastructure would be increased, a bill would be introduced.
- Monetization: – The railway, roads, and airports would be monetized. The monetization dashboard will be created to track the progress.
- Good news for low castes students: – The Union Budget 2020 has allocated a total of Rs 1,38,700 crore for the welfare of the Scheduled Castes (SCs), the Other backward Castes (OBCs), and the Scheduled Tribes (STs). Elaborating on the allocations, Union Finance Minister Nirmala Sitharaman in her Budget speech said the government has decided to allocate Rs 85,000 crore for the welfare of the Scheduled Castes and the Other Backward Castes. In regards to the Scheduled Tribes, Nirmala Sitharaman said Union Budget 2020 has allocated a sum of Rs 53,700 crore for their welfare. 85,000 crore rupees for Scheduled Castes and Other Backward Classes in 2021.53,700 crore rupees for Scheduled Tribes. Enhanced allocation of 9,500 crore rupees for Senior citizens and Divyangs.
- Farmer’s benefits: – The government imposed Farm Cess on Petrol & Diesel which even Farmers have to pay. Then how come this is Farm Cess it is more of Modi Cess against Farmers.
- Companies and development section: – Our FM modified the definition of small companies: companies with a paid-up capital not exceeding 2cr & a turnover not exceeding 20cr are to be considered small companies. Over 2 lakh+ companies benefit from this provision. For Startups and Innovators, the FM announced that the OPC can be incorporated without a limit for turnover or paid-up capital. This also allows NRIs to incorporate OPC in India.
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