Union Budget 2021 Highlights: Finance Minister Nirmala Sitharaman presented the Union Budget 2021 on February 1, 2021. This was the first paperless budget. The Finance Minister read out the document from a Made-in-India tablet.
This was the third Budget presentation for FM Nirmala Sitharaman since she took over the mantle of Finance Ministry and the first one to be presented after the COVID-19 pandemic. The Union Budget 2020-21 was focused on the centre's Atmanirbhar Bharat vision. It did not propose any changes in personal income tax slabs.
Budget 2021 Highlights
The Budget 2021-12 PART-A mainly rests on six pillars: Health & Well-Being, Physical & Financial Capital & Infrastructure, Inclusive development for aspirational India, Reinvigorating human capital, Innovation & R&D and Minimum Govt & Maximum Governance and Part-B was on Taxation.
Income Tax Budget 2021: Senior Citizens exempted from filing ITR; No change in Income Tax Slabs
The government has exempted senior citizens of 75 years of age and above from filing the Income Tax Return. There was no announcement of any change in the tax slabs for salaried individuals. Get more details here.
List of Important Schemes in Union Budget 2020-21
PM Atmanirbhar Swasth Bharat Yojana to be launched to develop primary, secondary and tertiary healthcare systems, strengthen existing health systems and support future health interventions with an outlay of about 64,180 crores over 6 years.
National Railway Plan: The Indian Railways has prepared a National Rail Plan for India 2030. The plan is to create a future-ready railways system by 2030. The government aims to bring down the logistic cost for industry to enable Make in India.
Mission Poshan 2.0 will also be launched to improve nutritional outcomes across 112 aspirational districts. Besides this, Voluntary Vehicle Scrapping Policy will be introduced to phase out old vehicles and reduce vehicular pollution. Get full list of new schemes here.
Union Budget 2021 goes paperless for first time since Independence
The Union Budget 2021 became the first-ever to go paperless, no hard copies of the Budget 2021 will be printed due to the COVID-19 pandemic. The soft copies of the budget will be provided to all members of the Parliament. Get all details here.
Union Budget Mobile App
The Union Government has launched a dedicated Union Budget Mobile app for both Android and Apple smartphones. The mobile app will provide all Union Budget documents after FM Nirmala Sitharaman's Budget speech in the Parliament. Know all about the app here.
Budget 2021: All you need to know!
Budget 2021, hailed by many as the Economic vaccine, is expected to boost revival of the Indian economy, which is currently in distress due to the impact of COVID-19 pandemic and the ensuing national lockdown. The Union Budget 2021 mainly envisions to create an Atmanirbhar Bharat. Get all live updates of the Budget speech here.
Economic Survey 2020-21
The Economic Survey 2020-21 has projected that India's real GDP growth to be 11.0% in FY 2021-22 and nominal GDP to be around 15.4%, which is the highest since independence. Get more details here.
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