FM Sitharaman presents Union Budget 2021

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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