Union Budget 2021: List of schemes launched by the finance minister
Union finance minister Nirmala Sitharaman introduced the much-awaited 'never seen before' Budget 2021-22 on Monday. Thanking everyone for enduring the impacts of the coronavirus pandemic and economic crisis, the minister began with her speech quoting Rabindranath Tagore.
Here is the list of schemes launched by the finance minister:
Aatmanirbhar package amounting to ₹27.1 lakh crore has been introduced to deal with the coronavirus pandemic impact. The minister said that the country has two coronavirus vaccines and will have two more. The PM Garib Kalyan Yojana and three Aatmanirbhar Bharat packages are like 5 mini budgets in themselves, the minister added.
The minister announced the centrally-sponsored PM Aatmanirbhar Swastha Bharat Yojana with an outlay of around ₹64,180 crore spread over six years.
The minister announced an increase in the capital expenditure in the health sector with 137 per cent. The budget expenditure for 2021-22 announced by the minister amounts to ₹2 lakh 23 thousand crore.
Ujwala scheme will be extended to cover one crore more beneficiaries, she said. City gas distribution network will be extended to 100 more cities. A gas pipeline project was also announced by the minister for Jammu and Kashmir.
Jal Jeevan Mission-Urban was also announced with an outlay of ₹2.87 crore.
Fintech Hub was also proposed to instil confidence in participants among the corporate bond market. The body will help in the development of bond markets.
The minister also announced the textile parks scheme with the aim to create seven such parks over the next three years.
The minister has also increased the Foreign Direct Investment (FDI) in the insurance sector from 49 per cent to 74 per cent.
Data Analytics, AI, ML, MCA 21 version 3.0 will be launched to have additional modules for e-adjudication, consultation, compliance management will be launched.
Disinvestment in IDBI Bank, Air India etc would be completed in 2021-22, said the minister.
IPO of LIC in 2022 for which the legislation changes were also proposed by the minister.
Incentive package from the Centre to states will also be proposed by the government for disinvestment in public sector enterprises. The minister has estimated ₹1.75 crore from disinvestment in 2021-22.
The third pillar of Aatmanirbhar Bharat aims at Inclusive Development, said the finance minister. The third pillar focuses on financial inclusion, migrant workers, labourers, development of agriculture and rural sector.
For financial inclusion, gig and platform workers will also be provided with social security and women will be able to work night shifts with proper protection.
For MSME, the finance minister has increased the capital expenditure to ₹15.17 thousand crores, which is absolutely double the expenditure prosed last year.
To further the National Education Policy (NEP) under the reinvigorating human capital under the Aatmanirbhar Bharat mission the minister said a central university will also be established in Leh for accessible higher education at Ladakh.
The finance minister announced ₹4,000 crore outlay for deep ocean survey spread across five years for the conservation of deep ocean biodiversity.
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- The meeting will be held virtually this year due to the ongoing Covid-19 pandemic.
- The rule is to ensure that high net worth individuals who post huge sums of money per month in their EPF accounts do not get to misuse the provision of assured high interest.
- Pandey said the move is aimed at ensuring that government presence is not required in the private sector and foreign investments.