FM Sitharaman presents Union Budget 2021
01 Feb 2020
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Highlight from Budget speech 2021
- Income upto Rs2.5 lakhs – Nil
- Income from Rs 2.5 lakh to Rs 5 lakh remains at 5%
- Income from Rs5-? 7.5 lakhs to be taxed 10%
- Income from Rs7.5-10 lakhs to be taxed 15%
- Income from Rs10-12.5 lakhs to be taxed 20%
- Income from Rs 12.5 –Rs15 lakhs to be taxed at 25%
- Income above Rs15 lakh unchanged at 30%
- Dividend Distribution Tax removed
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- Health Cess imposed on medical equipment import
- Custom duty raised on footwear and furniture
- Aadhaar-based tax verification introduced
- Tax holiday for developers of affordable housing extended
- New Digital Scheme for tax litigation
- Turnover threshold for audit raised to Rs5crore from Rs1 crore for MSMEs
- Taxes on ESOPs deferred by 5 years
- GDP growth estimated at 10 per cent for 2020 – 2021
- Fiscal deficit of 3.8 per cent
- Revised Receipts at 19.32 lakh crore, expenditure at 26.99 lakh crore
- Partial stake sale in LIC via IPO
- Non-residents can invest in certain government securities
- Highlight from Budget speech 2021
- App based invoice financing for MSMEs
- New scheme for subordinate debt for MSME
- Rs5,958 crore allocated for Ladak
- Rs30,757 crore allocated for J&K
- Deposit insurance raised to Rs5lakh from Rs1 lakh
- Rs100 crore for preparation of G20 presidency to be hosted by India in 2022
- To set up National recruitment agency to conduct eligibility tests for non-gazette posts in every district
- Changes will be made in companies act to decriminalize civil offences
- Taxpayer charter in the tax code to end tax harassment through statute
- Wealth creators to be honoured
- National security is top priority of the govt
- Rs 4400 Cr allocation for clean air
- Old coal-based plants to be closed if emissions above a certain level
- Determined to environmental protection
- Tribal museum to be set up in Ranchi
- 4 more museums to be taken up for renovation
- 5 Archaeological sites to be developed as iconic sites
- Allocation fo Rs85,000 crore for welfare of SC and backward classes
- Allocation of Rs35,600 crore for nutritional programmes
- Gross enrollment ratio of girls higher than boys
- Rs8000 Cr for Quantum Tech in next 5-years
- Rs6000 Cr proposed for 'Bharat Net'
- Data centre Parks to be set up
- 1 Lakh gram panchayats to be connected via 'Bharat Net'
- Policy soon for building data centre parks
- Digital Connectivity for essential services
- Rs22,000 Cr for power and renewal energy sector
- 100 more airports to be developed by 2024
- Plans to energise economic activity along river banks
- 4 Station redevelopment projects under PPP Model
- Aim to achieve 11000 Km of track electrification
- 2000 KM of strategic highways to be built
- National logistics policy to be released soon
- Rs103 Lakh Cr National Infra pipeline launched
- Rs27,300 Cr for promotion of industry and commerce
- Move to make every district an export hub
- Digital refund of duties for exporters
- New scheme to boost electronics manufacturing
- Investment clearance cell to be set up at centre, states
- 5 new smart cities to be developed
- Entrepreneurship has been the strength of India
- Rs 99300 Cr proposed for Education sector
- Large hospitals to be encouraged for PG courses
- National Police University to be set up
- INDSAT Programme for studying in India
- Rs 11,500 Cr allocated for Jal Jeevan Mission
- Rs12,300 Cr allocated for Swachh Bharat Mission
- Provided Rs69,000 Cr for Health Sector
- Allocation of Rs2.83 lakh crore for agriculture & irrigation
- Propose raising fish production to 2 lakh tons
- Agri Credit target for 2020 set at Rs15 lakh crore
- Integrated farming in rain fed areas to be expanded
- 'KRISHI UDAAN' for farm produce
- Indian railways to set up Kisan Rail
- Geo tagging of existing warehouses
- Govt to provide gap funding to set up warehouses
- Govt shall encourage balanced use of fertilisers
- Scheme for 20 Lakh farmers to set up solar pumps
- Measures for 100 Water stressed districts
- State government’s should consider model agricultural laws
- Financial inclusion has helped raise farm incomes
- Committed to doubling farmers' incomes by 2022
- Budget for aspirational India
- India now 5th largest economy in the world
- Ease of living for everyone
- Central govt debt reduced to 48.7% of GDP in Mar 2019
- Affordable housing for all through PMAY
- 16 lakh new tax payers added
- Total of 40 Crore GST returns filed so far
- Fundamentals of economy strong
- GST has been the most historic reform
- Inflation is well under control
- Budget to address hope and aspirations
- PM Modi got massive mandate in 2019
- FM Nirmala Sitharaman presents budget
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