Union Budget 2021: Few important things to know about Nirmala Sitharam presented 2021 Budget

Today Finance Minister Nirmala Sitharamn presented union budget 2021 in parliament at 11 PM

In the budget presented by Union Finance Minister Nirmala Sitharaman, prices of many commodities are raised while prices of some commodities reduced.

Refrigerators and air conditioning , alcoholic beverages, raw silk, spandex fiber, LED lights, solar lanterns, mobile phones and power banks will cost more and  gold, silver, nylon fiber, copper scrap and naphtha products become cheaper. Customs tariffs on gold and silver have been reduced, although price declines are likely less.

Agricultural Infrastructure and Development Cess (AIDC) is imposed on petrol and diesel, Rs 4 per liter on diesel and 2.5 per cent on petrol. However, Finance Minister Nirmala Sitharaman has said that the cess levy on petrol and diesel will also not burden the consumers as other taxes and cesses have been revised.

Minimum support price does not stop, government committed to farmers' development and opportunity for consumers to choose the electricity supplier, Hydrogen Energy Mission Initiative: Nirmala Sitharaman.

Major Highlights in Union Budget 2021

Government will provide of the capital expenditure for 2021-22 to Rs 5.54000 Crore.

Allocation of Rural Infrastructure has been raised to Rs 40,000 crore in the next financial year.

One Nation, One Ration Card Scheme implemented in all State and Union Territories.

Central University will be established in Leh.

Central government proposes deep ocean operation by investing more than Rs 4,000 crore in five years.

Tax exemption for NRIs from two-way tax and Charitable trusts up to transaction at Rs 5 crore.

Incentives for startups: Eligibility for tax holiday is extended by 1 more year; The capital gains exemption for startup investment extends one more year until March 22.

Fund for Agricultural Infrastructure has risen to Rs 40,000 crore and Rs 10,000 crore for a small irrigation crop.

Minimum Wage Act applicable to all sector workers.

1,500 crore for a project to promote digital payments.

As per the 15th Finance Commission, the states will get 41 per cent Tax share, Government has approved the Commission's recommendation.

Rs 3000 crores grant for skill development. Skill Development Agreement between Bharat Japan.

Affordable housing is a priority area.

Rs1.5 lakh for loans to purchase affordable house is now extended by one more year.

GST has been in effect for four years. 400 old and irrelevant taxes on GST have been removed.

Forthcoming #census is the first digital census in India's history. For this purpose, a total of Rs 3,768 crore is earmarked for 2021-22.

National Research Foundation to be set up at Rs. 50,000 crores to strengthen the research ecosystem.

Customs duty on foreign fabrics increases, customs duty on gold and silver declines.

Govt is committed to the welfare of farmers. The MSP regime has undergone a change to assure price that is at least 1.5 times the cost of production across all commodities.

Propose to reduce time allowed to re-open tax investigation to 3 years.

Nirmala Sitharaman announced Relief to senior citizens. For senior citizens who have pensions and interest income, exemption from filing returns.

National Language Translation Mission will be established to enhance our regional languages.

Government has expanded its resources for the benefit of the poor. PM Garib Kalyan Scheme and the three Atma Nirbharat Bharat packages were presented as mini budgets.

Government decide to privatize 2 PSU banks, a general insurance company in 2021-22.

Government to implement the Jaljeevan Mission Urban, which aims to provide universal water supply to 4,378 ULBs, which include 2.86 crore households; Will be executed within 5 years.

This budget was the first budget of the decade. This is also the first digital budget. Finance Minister Nirmala Sitharaman said at the beginning of the budget speech.

Nirmala Sitharaman said projects worth Rs 1.1 lakh crore have been completed under the National Infra Pipeline.

Nirmala Sitharaman said the preparation of this Budget was taken under circumstances like never before.

Finance Minister says an outlay for capital expenditure amounting to Rs 1,07, 100 lakh crore.

Declaration of the National Infectious Disease Control Center. High level lab construction in all districts.

Total financial cost of all the self-financing Bharat packages, including the measures taken by the RBI, is about Rs 27.1 lakh crore.

Two more #Covid19 #Vaccines will soon be available in India.

Rs 55000 crores of 1,100 km National Highway in Kerala. 1,18,000 crores cost to National Highways.

Establishment of DFI in the next 3 years with investment of Rs. 20000 crore as the original capital for PGCIL is 7000 Crore.

Rs 35000 crore has been given for #Covid19 #Vaccine by the Central Government - Nirmala Sitharaman.

May 2020- Govt announced Atmanibhar Bharat Package, which brought out 2 more Atmanibhar packages to help Covid-19 recover from the economic strain. 

Government to introduce bill to set up development financial institution with outlay of Rs 20,000 cr.

Nirmala Sitharaman introduces Aatmanirbhar Health Yojana with outlay of Rs. 64,180 cr.

Govt allocates Rs 35,400 cr towards #COVID19 #Vaccines.

Total economic cost of all packages including the measures taken by the RBI is estimated at about Rs 27.1 lakh crore.

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