Union Budget: Apart from IDBI, privatization of two public sector banks and one insurance company

BusinessUnion Budget: Apart from IDBI, privatization of two public sector banks and...

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Union Budget: Apart from IDBI, privatization of two public sector banks and one insurance company

New Delhi: Finance Minister Nirmala Sitharaman is presenting the General Budget 2021 today. Instead of briefcases and bookkeeping, she is presenting the budget from the tablet. In addition to IDBI, the finance minister has spoken about the privatization of two public sector banks and one insurance company.

In this budget, the government has given a lot of emphasis on the health sector and infrastructure, the budget of the health sector has been increased from 94,000 crore to 2.38 lakh crore. At the same time, many big announcements have been made regarding roads and highways.

The Finance Minister said that this budget is going to find opportunity in the disaster and this year there is hope for a big improvement in the economy. He said that this budget will help in maintaining the recovery of the economy.

Big announcement so far …

  • Proposal to establish Central University in Ladakh
  • Proposal of more than four thousand crores in five years for deep sea mission
  • Rs 1,500 crore financial incentive scheme to encourage digital transactions
  • Proposal for quality improvement in more than fifteen thousand schools
  • Proposal of 1000 crores for tea workers, especially in Assam, West Bengal
  • Proposal for re-capitalization of 20 thousand crores for public sector banks
  • Proposal to bring initial public issue to list Life Insurance Corporation of India in the stock market
  • Hundred new military schools will be established
  • Proposal of Rs 5000 crore in addition to micro irrigation scheme
  • Proposal to reduce margin money requirement from 15 percent to 15 percent for Standup India
  • Proposal to increase agricultural credit to Rs 16.5 thousand crore
  • Proposal for more loan in animal husbandry, dairy and fisheries sector, provision of Rs. 40000 crore for this budget
  • Nirmala Sitharaman said that the ownership plan will now be implemented nationwide. Credit target of agriculture is being increased to 16 lakh crores. Operation Green Scheme has also been announced, which will cover many crops and benefit farmers. Finance Minister Nirmala Sitharaman said that 5 fishing harbors will be developed as hub of economic activity. Fish Landing Center will be developed in Tamil Nadu.
    At the same time, one country-one ration scheme has been started for the migrant laborers across the country. A portel will be launched which will contain data related to migrant laborers. Women will be allowed to work in all shifts, adequate security will also be given for night shifts.
    Apart from IDBI, there will be privatization of two public sector banks and one insurance company.
  • Definition of small companies will be revised

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