Key highlights of union budget of Financial year 2021-22 Budget Analysis Importatnt ponts

1. UNION BUDGET 2021-22
Key Highlights
BY: Subhash Kr
Verma
Abhay Tirkey
Kumar Saurabh
Ayushmaan Raj
Guided BY : Ruchi Shukla Mam
(Accounts)

2. • Health and Sanitation (Ayushmaan Raj)
• Infrastructure(Kumar Saurabh)
• Tax Proposals(Abhay Tirkey)
• Economic and Finance (Subhash Kr. Verma)
Key Highlights Sector wise

3. • Scottish economist and
politician James Wilson
presented the first budget of
the country in 1860
• In 2019, finance minister Nirmala Sitharaman became the
second woman to have presented the budget after Indira
Gandhi, who had presented the budget for the financial year
1970-71.
• In 2019, Sitharaman did away
with the traditional budget
briefcase and instead went
for a Red packet with the
National Emblem wrapped
with a ribbon.
• Sitharaman replaces bahi-
khata with Made In India
tablet as Budget 2021
goes digital

4. Health & Sanitation
A new scheme, titled PM Atma Nirbhar Swasthya Bharat Yojana, to be launched to develop
primary, secondary and tertiary healthcare .
The FM proposed allocation of Rs 2,83,846 lakh crore for the healthcare and wellness
sector. This also includes Rs 35,000 crore for COVID-19 vaccines, which are being
rolled out across the country since January 2021.
Jal Jeevan Mission Urban aimed at better water supply nationwide
Strengthening of Urban Swachh Bharat Mission

5. INFRASTRUCTURE
• Metro services announced in 27 cities, plus additional
allocations for Kochi Metro, Chennai Metro Phase 2,
Bengaluru Metro Phase 2A and B, Nashik and Nagpur
Metros
• Pradhan Mantri Ujjwala Yojana (LPG scheme) to be
extended to cover 1 crore more beneficiaries
• National Hydrogen Mission to be
launched to generate hydrogen from green
power sources
• Recycling capacity of ports to be doubled by 2024
• Gas pipeline project to be set up in Jammu and Kashmir

6. • No IT filing for people above 75 years who get
pension and earn interest from deposits
• Reopening window for IT assessment cases
reduced from 6 to 3 years.
• However, in case of serious tax evasion cases
(Rs. 50 lakh or more), it can go up to 10 years
• Affordable housing projects to get a tax holiday
for one year
• Compliance burden of small trusts whose annual
receipts does not exceed Rs. 5 crore to be
eased

7. • Custom duty on gold and silver to be rationalised
• Duty on naphtha reduced to 2.5%.
• Duty on solar inverters raised from 5% to 20%, and on solar la
• All nylon products charged with 5% customs duty
• Tunnel boring machines to attract customs duty of 7%

8. ECONOMIC & FINANCE
• Fiscal deficit stands at 9.5% of the
GDP; estimated to be 6.8% in 2021-
22
• An asset reconstruction company will
be set up to take over stressed loans
• Strategic sale of BPCL,
IDBI Bank, Air India to be
completed
• To push growth via
infrastructure creation,
Finance Minister
Nirmala Sitharaman on
Monday hiked the
government's capital
expenditure for FY
2021-22 by 34.5 per
cent to Rs 5.5 lakh
crore.

9. Foreign Direct Investment(FDI)
limit in the insurance sector
increased to74% from 49% a
move aimed at attracting greater
overseas capital inflows to help
insurance penetration in the
country.
Initial public offering (IPO) of Life Insurance
Corporation (LIC) would be launched in the next
financial year, beginning April 1.
A Unified Securities Market Code to be created, consolidating
provisions of the Sebi Act, Depositories Act, Securities
Contracts (Regulation) Act, 1956 and Government Securities
Act, 2007 into a rationalized single Securities Markets Code.

10. Reviews of Industrialist on
Union Budget 2021
Budget justifiably focused on resetting the Indian economy: Rajesh Nambiar (C
A reassuring Budget: (Kiran Mazumdar Shaw)Biocon executive chairperson
FM's emphasis on healthcare will encourage innovation: Adar Poonawalla (SII
Several positive signals for manufacturing, commercial vehicles sector: Vipin S
Historic budget with growth as the centre piece: Uday Kotak(CII President)
Enhanced capital expenditure will create livelihoods: Sanjiv Puri(ITC chairman

11. Work Cited
• https://www.thehindu.com/business/budget/budget-2021-political-
reactions-and-reactions-from-industry-experts/article33713684.ece
• https://www.thehindu.com/business/budget/highlights-of-union-
budget-2021-22/article33713457.ece
• https://timesofindia.indiatimes.com/business/india-business/union-
budget-2021-explained-in-15-charts/articleshow/80631848.cms
• https://www.indiabudget.gov.in/doc/budget_speech.pdf
• https://indianexpress.com/article/business/budget-2021-live-updates-
nirmala-sitharaman-income-tax-healthcare-economy-gdp-
coronavirus-atmanirbhar-bharat-7168814/

12. Any
Questions