Parts of mobile phones, chargers to get costlier
New Delhi: The government proposed Monday to impose import duty on components of mobile phones and chargers, to enhance local value addition. Finance Minister Nirmala Sitharaman announced review of 400 exemptions in customs duty including those applicable on the mobile devices segment. “For greater domestic value addition, we are withdrawing a few exemptions on part of chargers and sub-parts of mobiles. Further, some parts of mobile rate will move from nil rate to moderate 2.5 per cent,” Sitharaman said.
Government to borrow Rs 12 lakh crore for FY 2021-22
New Delhi: Finance Minister Nirmala Sitharaman said Monday that the government will borrow about Rs 12 lakh crore in 2021-22. The minister said the expenditure for the next fiscal year has been pegged at Rs 34.83 lakh crore, which includes Rs 5.54 lakh crore of capital spending. Sitharaman also said states will get 41 per cent share of taxes as per the 15th Finance Commission recommendation and the government has accepted the recommendation.
Govt committed to farmers’ welfare, MSP system strengthened: Sitharaman
New Delhi: Stressed that the government is committed to farmers’ welfare, Finance Minister Nirmala Sitharaman Friday said the MSP regime has undergone a ‘sea change’ to assure price at least 1.5 times of production cost with sharp increase in procurement of foodgrains and payment to farmers.
In her budget speech for the next fiscal, she said the procurement of crops like paddy, wheat, pulses and cotton has jumped manifold in the last six years.
“Our government is committed to the welfare of farmers. The MSP (minimum support price) regime has undergone a sea change to assure price that is at least 1.5 times the cost of production across all commodities,” Sitharaman said.
“The procurement has also continued to increase at a steady pace. This has resulted in increase in payment to farmers substantially,” she said.
Senior citizens more than 75 years old exempted from filing tax returns
New Delhi: Senior citizens above 75 years of age with only pension income exempted from filing tax returns, announced Finance Minister Nirmala Sitharaman while presenting the Union Budget for the fiscal year 2021-22.
Govt proposes Rs 1,500 crore-scheme to promote digital payments
New Delhi: The government Monday proposed Rs 1,500 crore-scheme to promote digital payments in the country.
Finance Minister Nirmala Sitharaman said there has been a manifold increase in digital payments in the recent past.
“To give a further boost to digital transactions, I earmark Rs 1,500 crore for a proposed scheme that will provide financial incentive to promote digital mode of payment,” the minister said while presenting the Budget for 2021-22.
Social security benefit to be extended to platform, gig workers
New Delhi: The government Monday said social security benefits will be extended to platform and gig workers.
Presenting the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman said the government also proposed setting up of a portal to collect information on gig-workers, building and construction workers, among others.
A portal will be set up to collect info on gig & platform workers, building & construction workers, among others to provide them benefits like health, credit (easy financing), food and others, Sitharaman said in her budget speech in Lok Sabha.
8,500 km of highway projects to be awarded in FY22
New Delhi: Expressing commitment to augment the country’s infrastructure, Finance Minister Nirmala Sitharaman Monday said projects for building 8,500 km of highways will be awarded by March 2022.
While presenting the Union Budget 2021-22 in Parliament, the finance minister said poll-bound West Bengal will see highway projects worth Rs 25,000 crore.
“To further augment road infrastructure, 8,500 km of road and highway projects will be awarded by March 2022,” Sitharaman said in her Budget Speech.
She also announced that highway projects worth Rs 65,000 crore will be undertaken in Kerala. Besides, Rs 25,000 crore will also be spent in West Bengal, she added.
Govt proposes Rs 2.24 lakh crore outlay for healthcare in 2021-22
New Delhi: The government Monday proposed Rs 2,23,846 crore Budget outlay for health and well being for 2021-22, compared to Rs 94,452 crore in the current fiscal, an increase of 137 per cent.
Finance Minister Nirmala Sitharaman also proposed Rs 35,000 crore outlay for COVID-19 vaccines for the next fiscal and announced the rollout of pneumococcal vaccines across the country to help save over 50,000 deaths annually.
“I have provided Rs 35,000 crore for COVID vaccines for 2021-22. I commit to provide further funds if required,” the Finance Minister said while presenting the Budget for 2021-22.
Govt to infuse Rs 20,000 into PSBs in 2021-22
New Delhi: Finance Minister Nirmala Sitharaman Monday said the government would infuse Rs 20,000 crore into public sector banks (PSBs) in 2021-22, to meet the regulatory norms.
For the current financial year also, the government had made a provision of Rs 20,000 crore for recapitalisation.
Unveiling the Budget 2021-22 in the Lok Sabha, the finance minister said the government has proposed to infuse Rs 20,000 crore into the PSBs, to further consolidate financial health of banks.
Scheme unveiled to set up mega textile parks in India
New Delhi: The government Monday unveiled a scheme for setting up mega textile parks in the country, as part of the Centre’s efforts to position India as a fully integrated, globally competitive manufacturing and exporting hub for the sector.
Finance Minister Nirmala Sitharaman made the announcement while presenting the Budget 2021-22 in Parliament.
“A scheme of mega investment textile parks will be launched in addition to the PLI scheme,” Sitharaman said.
She informed that 7 mega textile parks will be launched in three years as part of the scheme.
Govt to launch national monetisation pipeline for potential brownfield infra assets
New Delhi: Finance Minister Nirmala Sitharaman said the government will launch national monetisation for potential brownfield infrastructure assets.
Sitharaman announced this while presenting 2021-22 Budget in Parliament.
“National monetisation pipeline for potential brownfield infrastructure assets will be launched,” Sitharaman said.
Rs 18,000 crore scheme for public transport in urban areas announced
New Delhi: The government Monday announced a Rs 18,000 crore scheme to augment public transport in urban areas.
In the first paperless Union Budget, Finance Minister Nirmala Sitharaman said there will be 100 per cent electrification of broad gauge rail tracks by December 2023.
She also said a record Rs 1,10,055 crore will be provided for railways, of which Rs 1,07,100 crore will be for capital expenditure in 2021-22.
Sitharaman proposes sharp hike in capital expenditure
New Delhi: Finance Minister Nirmala Sitharaman Monday proposed a sharp rise in capital expenditure for the next fiscal to Rs 5.54 lakh crore, from Rs 4.39 lakh crore in the current financial year.
Presenting the Union Budget for 2021-22, she said Railways will monetise dedicated freight corridors.
Voluntary vehicle scrapping policy introduced to depose old vehicles
New Delhi: Finance Minister Nirmala Sitharaman Monday announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles.
Presenting the Budget for 2021-22 in Parliament, Sitharaman said that under voluntary vehicle scrapping policy, personal vehicles would undergo fitness test after 20 years while commercial vehicles would require it after completion of 15 years.
She said this will promote fuel-efficient and environment friendly vehicles while cutting on India’s huge import bills.
Sitharaman reads out Budget 2021 speech from tablet
New Delhi: Finance Minister Nirmala Sitharaman read out the Union Budget speech in the Lok Sabha from a tablet Monday instead of a conventional paper document.
Presenting the Budget for 2021-22, Sitharaman stood in the second row of the Treasury Benches.
This time, the Budget will be a paperless document and it would be available to parliamentarians and the public online.
Aatmanirbhar packages accelerated structural reforms: Sitharaman
New Delhi: Finance Minister Nirmala Sitharaman Monday said the government’s Aatmanirbhar packages totalling Rs 27.1 lakh crore to deal with the COVID pandemic, accelerated the pace of structural reforms.
In the first ever paperless Union Budget, Sitharaman also proposed the introduction of Aatmanirbhar health programme with an outlay of Rs 64,180 crore.
This will be in addition to the national health mission, she said.
Sitharaman commences presentation of Budget 2021
New Delhi: Finance Minister Nirmala Sitharaman Monday commenced presentation of the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours.
