Reported By Abhilasha @ Prastaav

The Finance Minister of India, Nirmala Sitharaman presented the Annual Financial Statement for Fiscal Year 2021 on 1st Feb. 2021.

The Highlights are herein mentioned:

  • The Budget Proposal has 6 Pillars:
  • Health and Well-being
  • Physical and Financial and Infrastructure.
  • Inclusive Development for Aspirational India.
  • Reinvigorating Human Capital.
  • Innovation and R&D
  • Minimum Government and Maximum Governance
  1. The total estimate of all relief measures announced by the government and RBI is ₹2.71 lakh crores.
  2. ₹35,000 crores has been allotted to COVID-19 vaccine as the country is expecting two, or more COVID-19 vaccines in circulation
  3. Pneumococcal vaccine which is currently limited to only 5 states, will be given out across the country which will prevent 50,000 child deaths annually.
  4. Inauguration of PM Aatmanirbhar Bharat with an outlay of ₹64,180 crores in 6 years.
  5. Establishment of 17,000 Rural and 11,000 Urban Health and Wellness Centre and Integrated Public Health Labs in each district.
  6. National Commission to be introduced for Allied Healthcare Professional Bill and it will ensure transparent and efficient regulation of 56 allied healthcare professions. A separate bill will be introduced to cover the National Nursing and Midwifery Commission.
  7. Excluding pensions, the Ministry of Defence will be allotted ₹4,78,195.62 crores. It is pegged at ₹3.62 lakh crore from last year’s ₹3.37 lakh crore.
  8. National Rail Plan for India 2030 to create a future-ready railways system by 2030.
  9. Railways will be provided with indigenously automatic train protection safety that eliminates train collisions due to human error.
  10. MetroLite and Metro New Technologies to be deployed to provide metro rail system in tier 2 cities and peripheral areas of tier 1 cities.
  11. Aim of creating 11,000 km of National Highway projects this year and another 8,500 km of road projects to be awarded by March 2022.
  12. Augmentation Scheme for Public Transport Services of ₹18,000 crores.
  13.  Highway and Road works announced in Kerala, Tamil Nadu, West Bengal and Assam.
  14. Under Scrapping Policy, Commercial Vehicles that are 15+ years old and Personal Vehicles that are 20+ years old will be scrapped out. According to this policy, these vehicles will reduce the population of old and faulty vehicles and consequently, the air pollution by 25-30%.
  15. Ujjwala Scheme to be expanded to over 1 crore beneficiaries by adding 100 more districts to City Gas Distribution Network in the next 3 years.
  16.  100% Electrification to be completed by 2023.
  17. National Hydrogen Mission will be launched to generate hydrogen from free power sources.
  18.  The Recycling Capacity of Ports will be doubled by 2024.
  19. A rapid increase in capital expenditure and provision of ₹5.54 lakh crore, which is 34.5% higher than BE 2020-21.
  20. Financial Deficit is 9.5% of the GDP, estimated to be 6.8% in 2021-22.
  21.  The FDI limit allowed in Insurance Companies will be increased from 49%-74%.
  22. Mega Investments Textile Parks will be launched to create World Class Infra.
  23. Unified Securities Market Code to be created, consolidating provisions of the SEBI Act, Depositories Act and other laws.
  24.  LIC’s IPO to be announced this year.
  25.  Exemption from filing income tax to senior citizens over 75 years of age.
  26. Reducing the time limit of tax assessments from 6 to 3 years.
  27. Proposal to allow states to borrow up to 4% of the GSDP this year.
  28. The next census will be the first digital census in India. ₹3,768 crore has been provided for this monumental task.
  29.  Another 1,000 mandis will be integrated into the E-Nam market place.
  30. MSP set to undergo changes to assure price of atleast 1.5 times of the cost of production of all commodities to the farmers.
  31. Development of 5 fishing harbours and fishing land centres.
  32. By the virtue of ‘One Nation, One Ration Card’ Scheme, citizens can claim their rations anywhere in the country. The biggest beneficiaries of this scheme will be migrant workers.
  33. Jal Jeevan Mission to get an outlay of ₹2.87 lakh crore.
  34. The Urban Swachh Bharat Scheme to be implemented at a cost of over ₹1.4 lakh crore.
  35.  Setting up of Central University in Leh for Higher Education in Ladakh.
  36. 100 New Sainik Schools to be set up in partnership with NGOs, private schools and states.
  37.  750 Ekalavya Schools to be set up in Tribal Areas.
  38. Social Security for Gig and Platform workers with minimum wages to all categories. Women will be given adequate protection to work in all categories.
  39. To further extend the governments’ efforts towards the unorganised labour force, FM has proposed to launch a portal that will collect relevant information on gig, building and construction-workers among others. This will also help formulate health, housing, skill, insurance, credit and food schemes for migrant workers.


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