in this post, we covered Budget 2021-22 Highlights. Union Finance Minister of India Nirmala Sitharaman presenting the Budget in Parliament at 11 am today (Monday) 1st February 2021. She delivered her third Budget in Lok Sabha on Monday. This year’s Budget will be the 9th consecutive annual budget presented before the country by the Narendra Modi government. It is the first paperless Budget.
The budget mainly focuses on six categories. Budget’s these Six pillars are Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Government Maximum Governance
Budget 2021 key points GK list
- In the case of wheat, ₹75,050 crore amount paid to farmers.
- For paddy ₹1,72,752 crore
- 1,000 more Mandis to be integrated into the E-NAM market place.
- Five major fishing hubs will be developed as hubs for economic activity including Chennai, Kochi, and Paradip.
- To promote seaweed farming, a multipurpose seaweed park to be established in Tamil Nadu.
- Aims to the income of farmer would be double.
- 100 Sainik Schools will be set up.
- 750 Eklavya schools will be set up in tribal areas.
- A Central University will set up in the Leh region of Ladakh.
- Setup four(4) new National Institute of Virology.
- More than 15,000 schools will be strengthened under NEP 2020.
- An ‘umbrella’ structure will be created for central higher education institutions in various cities such as Hyderabad.
- A total of 15,552 schools will be developed as Adarsh Vidyalayas.
- Set-up a Development Finance Institution (DFI), capitalized with Rs 20,000 crore
- A new centrally sponsored scheme called PM Atma Nirbhar Swasthya Bharat Yojana at the outlay of ₹64,180 crores over six years to develop primary, secondary, and tertiary healthcare systems.
- The main interventions under this scheme will support over 17,000 rural and 11,000 urban health centers.
- Establishing 602 critical health care hospitals in blocks of districts.
- Mission Poshan 2.0 to improve nutritional outcomes across 112 aspirational districts
- An urban Jal Jeevan Mission to be launched and implemented over five years with an outlay of ₹2.87 lakh crore. FM announces the Jal Jeevan Mission with an outlay of 2.87 lakh crores aiming to provide a full-fledged water supply to all urban local bodies with household tap connections.
- The Urban Swachh Bharat Mission will be implemented over five years
- To tackle the burgeoning air pollution problem, I am allocating ₹2,217 crores for 32 urban centers
- ₹35,000 crores have been allocated for COVID-19 vaccines and intend to provide further funds if required
- Proposed Rs 1.41 lakh crores over a period of 5 Years for the Urban Swacch Bharath 2.0. or for Urban Clean India Mission
- Proposed to extend Ujjwala Scheme up to 1 crore beneficiaries from the existing 8 crore beneficiaries.
- India to launch Deep Ocean Mission, with the allocation of Rs 4,000 crore over 4 years.
- PLI scheme for 13 sectors.
- 69 crore beneficiaries or 86% covered under one-nation, one-ration.
- Government to set-up a Development Finance Institution (DFI), capitalized with Rs 20,000 crore
- Rs 1,10,055 crore allocation for railways.
- Rs 18,000 crore for public Bus.
- A total of Rs.1,18,000 crore allocation for Ministry of Road Transport and Highways.
- Highway infra work proposed include building 8,500-km of highways by March 2022
- National Rail Plan has been created to bring a future-ready Railway system by 2030
- Raising the share of public transport in urban areas through expansion of metro networks and augmentation of city bus services.
- The scheme will facilitate the deployment of innovative PPP models to enable private players to provide and operate over 20,000 buses.
- A total of 702 km of the conventional metro is operational and another 1,016 of metro and RRTS is under construction in 27 cities.
- Metro Lite and Metro Neo will be introduced in Tier 2 cities and peripheral areas of Tier 1 cities. These are low-cost Metro projects
- Kochi Metro, Chennai Metro Phase 2, Bengaluru Metro Phase 2A and B, Nashik and Nagpur Metros get additional allocations.
- The dedicated Eastern and Western Freight corridors will be ready by 2022
- The Somnagar-Gomu section of the Eastern Dedicated Corridor will be taken up this year.
- For West Bengal high way project Rs.35,000 crore.
Physical and Financial Capital and Infrastructure
- Increase the FDI limit from 49% to 74% in insurance.
- The National Infrastructure Pipeline (NIP) was launched with 6,835 projects, which has now expanded to 7,400 projects.
- Seven(7) textile parks will be added in the next three years
- Introduce a bill to set up a Development Finance Institution, and have provided ₹20,000 crores.
- To focus on the various allied laws of the securities market to be merged to the Securities Market Code.
- Announces that a new Asset Reconstruction Company is to be set up to provide resolution to stressed assets in PSUs
- Rs 44,000 crore under capital expenditure to be given to the Department of Economic Affairs.
- Rs 1,500 crore earmarked for a scheme to boost digital payments
- 137% increase in Budget outlay
- A gas pipeline project will be taken up in the Union Territory of Jammu and Kashmir.
- City Gas Distribution (CGD) programme will be extended to 100 districts in the next three years.
- The Ujjwala (LPG) scheme which has benefited 8 crore households thus far will be extended to cover 1 crore more beneficiaries.
- Grants Rs.1,000 crores to the Solar Energy Corporation of India for the growth of the Solar Energy Sector.
- Raised customs duty on solar inverters from 5% to 20% and solar lanterns from 5% to 15%.
- Government cuts import tax on gold, silver to 7.5% from 12.5%.
- Focus on reducing pollution control.
- For Power sector allocation Rs. 3.06 lakh crore.
- The prepaid meter in the Electricity sector.
- Reduces tax burden on senior citizens above 75 years.
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