Nirmala Sitharaman presents first ever digital Budget 2021-22, Highlights

The Union Budget of 2021-22 was presented by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman on Monday, with it being done through videoconferencing. In her budget, she has focused on six aspects – Health and Well Being; Development for Aspirational India; Physical and Financial Capital, and Infrastructure; Innovation and R&D; Human Capital; and Minimum Government and Maximum Governance. The focus of the Budget 2021-22 is largely based on the COVID-19 pandemic aftermath.

COVID vaccination for all

Under Health and Wellbeing category, an outlay of Rs. 2,23,846 crore has been allocated, which is 137% more than the previous year. While Rs. 35,000 crore has been kept for COVID-19 vaccine. Besides these, over the period next six years, an outlay of Rs. 64,180 crore is planned to be injected into PM Atma Nirbhar Swasth Bharat Yojana and Rs. 1,41,678 crore has been allocated for the next years for urban Swachh Bharat Mission 2.0.

Scrapping of Old Vehicles

Now, the budget brings in a new voluntary vehicle scrapping policy to phase out unfit and old vehicles off the roads. Also, the fitness tests would be conducted in automated fitness centres after 20 years in case of personal vehicles and after 15 years for commercial vehicles.

More National Highways

Under Physical and Financial Capital, and Infrastructure, this budget allocates Rs. 1,18,101 lakh crore outlay, the highest ever, for Ministry of Road Transport and Highways. Apart from that national highways have been planned for states, namely Kearla, Tamil Nadu and West Bengal. A budget of Rs. 1,10,055 crore has been allocated for the Railways, with an eye on National Railway Plan for India, 2030.

Ujjawala Scheme to cover more 1 crore people

The budget also mentions extension of Ujjwala Scheme to cover 1 crore more beneficiaries while a new gas pipeline project will be carried out in the state of Jammu and Kashmir.

FDI Limit Increased

The government has also planned to increase the permissible Foreign Direct Investment (FDI) Limit from 49% to 74%. This step could have a major bearing on the local brands.

One Nation, One Ration Card

The Budget 2021-22 also talks of the in One Nation One Ration Card scheme, with the objective of benefitting the migrant workers most. Another good step that the government will implement is the launch of a portal, where information will be collected on migrant workers and unorganized labor force so as to to formulate various schemes for them.

Digital Census

The budget also allocates Rs. 3768 crore to carry out first digital census in the the history of India.