New Delhi: Finance Minister Nirmala Sitharaman presented the General Budget 2021 today. This is the first budget after the coronary period, in which the focus is on vaccine, elections and farmers. The Finance Minister said that this time the budget is digital. While GDP has been reduced to minus twice in a row, the global economy itself is sluggish. The year 2021 is a historic year, on which the country is eyeing. Even in these difficult times, the Modi government is working to double the income of farmers and help the common people. Know what are the main announcements of the government in the budget.
Agricultural cess has been imposed on petrol and diesel. Agricultural cess of Rs 2.50 per liter on petrol and Rs 4 per liter on diesel has been imposed. However, this will not affect the customers. It is believed that the government is trying to extract the profits made during the Corona period from the pockets of the oil companies.
With the imposition of agricultural cess on petrol and diesel, the basic excise duty (BED) and special additional excise duty (SAED) have been reduced. Due to this, the burden of agricultural cess will not be passed on to the customers. Now Unbranded Petrol and Diesel will incur a BED of Rs 1.4 and Rs 1.8 per liter respectively. At the same time, SAED on unbranded petrol and diesel has been reduced to Rs 11 and Rs 8 per liter respectively.
Finance Minister Nirmala Sitharaman presented the country’s general budget on Monday. During this time no change has been made in the income tax slab. However, senior citizens above 75 years of age have now been given tax relief. Now those above 75 years of age do not have to fill ITR. However, only those taking pension will get benefits. With this, Finance Minister Nirmala Sitharaman announced that NRI people used to have a lot of difficulty in paying taxes, but now this time they are being exempted from the double tax system. Finance Minister Nirmala Sitharaman has announced that the initial exemption to start-ups to pay tax has now been extended till March 31, 2022.
In the budget speech, Finance Minister Nirmala Sitharaman announced that about 100 new military schools will be built in the country. A central university has been announced in Leh. Finance Minister said that Rs 35 thousand crore was announced for 4 crore scheduled caste students. In this area, skill training is being done in collaboration with the United Arab Emirates, so that people can get work. In this, India and Japan together are running a project.
Finance Minister Nirmala Sitharaman announced that now up to 74 percent FDI can be done in the insurance sector, earlier only 49 percent was allowed here. Apart from this, a charter has been announced for investors. Finance Minister Nirmala Sitharaman said that the government is continuously working for disinvestment, the process of many companies will be completed this year. The Finance Minister announced that the IPO of LIC will be brought to market this year.
Finance Minister Nirmala Sitharaman also announced for the power sector. A scheme costing more than Rs 3 lakh crore is being launched by the government, which will work to strengthen the electricity-related infrastructure in the country. It has also been announced by the government to build a hydrogen plant. In the power sector, many projects will be completed under PPP model. Work will be done to promote merchant ships in India, initially Rs 1624 crore has been given for it. Apart from this, work will be done on recycling the ship through the plant present in Gujarat.
Finance Minister Nirmala Sitharaman, in her budget speech, announced the Self-Reliant Healthy India Scheme. 64180 crore rupees have been given by the government for this and the health budget has been increased. 35 thousand crore rupees were announced for the corona vaccine by Nirmala Sitharaman. The Finance Minister said that the health sector budget has been increased by 137 percent.
