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Highlights: Budget will drive economic revival post Covid-19, says India Inc
Budget 2021 Live Updates: Prime Minister Narendra Modi congratulated Nirmala Sitharaman for her Budget amid Covid-19 constraints; Opposition parties found nothing impressive in the Budget.
Finance minister Nirmala Sitharaman presented her third Budget, the Budget which was like never before, in Parliament on Monday. Her two-hour-long speech got disrupted when the ministers talked elaborately on farm sectors, on her government's commitment to farmers' benefit. In her speech, she also mentioned 'privatisation' several times, which is being seen as a departure from the general practice as government shies away from mentioning the word....Read More
This was the first digital Budget presentation, where the finance minister read out the speech from a tab, made in India. The electronic copies were distributed to members of Parliament. The Budget allocated ₹35,000 crore for Covid-19 vaccines
Prime Minister Narendra Modi, defence minister Rajnath Singh, home minister Amit Shah and other BJP leaders praised the Budget for being holistic in approach. Though it does not have an announcement of tax exemption, there are several announcements which will indirectly help middle-class people through infrastructure development, job creation, ministry officials said.
Budget Live: Congress leader Shashi Tharoor slams Budget
Budget Live 2021: Nirmala Sitharaman concludes speech, no change in IT slabs
Finance minister Nirmala Sitharaman has concluded her Budget speech. There has been no announcement for individual tax payers.
Budget Live 2021: Customs duty on auto parts to be raised
Customs duty on some auto parts to be raised to 15%, announces FM
Budget Live 2021: FM's announcement of PF
Late deposit of employee's contribution (towards social security) will not be allowed as a deduction to the employer, says Nirmala Sitharaman
Budget Live 2021: Income tax filing has gone up.
Nirmala Sitharaman says Income tax return filers increased to 6.48 crore in 2020 from 3.31 crore in 2014
Budget Live 2021: Sop for housing
> Affordable housing projects can avail a tax holiday for one more year till 31 March 2022.
> Notified rental housing projects can avail of tax exemptions.
Budget Live 2021: Exemption for senior citizens
Senior citizens who only have pension income are exempt from filing income tax returns. "We shall reduce the compliance burden for those 75 years and above. Senior citizens above 75 years of age with only interest income will not have to file income tax returns," the FM said.
Budget Live 2021: Nirmala Sitharaman on fiscal deficit
> Fiscal deficit in 2020-21 is pegged at 9.5% of the GDP.
> Gross borrowing will be around ₹12 lakh crore in the next fiscal.
> We need ₹80,000 crore from the markets in the last two months of financial year 2021-22
Agri Budget: What Nirmala Sitharaman said
> Increase in agriculture credit target to ₹16.5 lakh crore.
> MSP procurement will continue at a steady pace.
Education Budget 2021: FM announced education budget
> More than 15,000 schools will be qualitatively strengthened
> 100 new Sainik schools to be set up
> Legislation for umbrella body of higher education
> Central university in Leh
Budget 2021: FM on migrant workers
> 32 states covering 69 crore beneficiaries have implemented One Nation One Ration card.
> A site compiling details of workers
Budget 2021: Members disrupt as FM talks about farm reforms
As finance minister Nirmala Sitharaman talks about farm reforms taken up in 2020, members disrupt her. " The data I am going to give now is important for all members in the House," FM says.
Budget 2021: Two PSBs to be taken up in 2021
"We propose to take up two public sector banks and one general insurance companies for stake sale in FY22. I propose to move amendments to the law this year. We will also bring LIC's IPO this fiscal," Nirmala Sitharaman says
Budget 2021: How markets react to FM's announcements
Sensex jumps 950 points to 47,238.55, Nifty nears 13,900 as Sitharaman makes key budget announcements
Budget 2021: Deposit Insurance ₹5 lakh
FM announced ₹20,000 crore for PSB recapitalisation and ₹5 lakh for as deposit insurance.
Budget 2021: Insurance companies to have 74% FDI
Nirmala Sitharaman proposes change in laws to permit FDI in insurance sector from 49% to 74 %
Budget 2021: Ujjwala scheme to be extended to 1 crore more
Ujjwala scheme will be extended to 1 crore additional families, FM said. About eight crore are already covered under this scheme.
Budget 2021: ₹1.10 lakh crore from Railways
Sitharaman announces ₹1.10 lakh crore outlay for railways.
Budget 2021: Allocation for Jal Jeevan Mission
Budget India 2021: Highway works proposed in Kerala, West Bengal
Nirmala Sitharaman spelt out the proposed highways works in several states.
> 3,500 km corridor in Tamil Nadu
> 1,100 km in Kerala at investment of ₹65,000 cr
> 675 km in West Bengal at a cost of ₹95,000 cr
> 1,300 km in Assam in the next 3 years
Budget India 2021: FM on railways reforms
Indian Railways has prepared a national railways plan by 2030. It will bring down the logistics cost, Nirmala Sitharaman said.
Budget India 2021: Special scheme to nudge states to spend more of their budget on infrastructure
"In 2020-21, we have provided for ₹4.12 lakh crore for capital expenditure. We are likely to end at ₹4.39 lakh crore towards it. We will provide ₹5.54 lakh crore towards Capital Expecditure in FY22 - 34% more than the budget estimates of last year," says FM
Vaccine Budget: ₹35,000 crore for covid-19 vaccines
Finance minister Nirmala Sitharaman announced ₹35,000 crore for Covid-19 vaccines.
Health Budget 2021: Nirmala Sitharaman announces ₹2,83,846 lakh crore for health and wellness
Finance minister Nirmala Sitharaman announced ₹2,83,846 lakh crore for health and wellness sector which also includes ₹35,000 crore for Covid-19 vaccines.
India Budget 2021: FM announced voluntary vehicle scrapping policy
Nirmala Sitharaman announced a voluntary vehicle scrapping policy where vehicles will undergo fit test.
