Touted to be a crucial financial year ahead, 2021-22 Union Budget assumed significance after a difficult year for the economy due to the COVID-19 pandemic which literally brought the businesses in the country to a halt.
Spotted with ‘made in India’ tablet computer instead of the traditional ‘bahi khata’ to deliver a paperless Budget address, Finance Minister Nirmala Sitharaman is presenting Union Budget 2021-22.
Following the FinMin’s address in the Parliament, here are the updates so far,
- Gas pipeline project to be taken up in Jammu and Kashmir
- Rs 1,000 crore to solar energy corporation and Rs 1,500 to a renewable energy development agency
- FDI in insurance hiked to 74% from 49%
- Rs 20,000 crore bank recapitalisation package is in line with CRISIL Research’s assessment of the requirement to majorly fund PCA and mergers
- Proposal to increase agriculture credit target to Rs 16.5 lakh crore
- Ujjwala scheme will be expanded to cover over 1 crore more beneficiaries
- Allocation of Rs 1,500 crore for a proposed scheme to provide financial incentives to promote digital modes of payment
- Contingency Fund to be increased to 30,000 crore
- Over Rs 75,000 crore paid to wheat farmers in 2020-21, benefitting 43.36 lakh farmers
- BPCL, Air India, Shipping Corp, Container Corp and other disinvestments will be completed in 2021-22
