Highlight of Budget 2021-22. A Union Minister for a Finance and Corporate Affairs, Smt Nirmala Sitharaman has presented a the Union Budget 2021-22 in Parliament on 2nd Feb21 , which is first budget of this new 2021 decade and also it is a digital one in backdrop of an unprecedented times of COVID-19.
Laying of a vision for a Aatma Nirbhar Bharat. She said this is an expression of an 130 crore of Indians who had a full confidence in their own capabilities and a skills. She said in Budget that a proposals will further going to strengthen Sankalp of the Nation. A Doubling of Farmer’s earning. Strong of a Infrastructure, a Healthy India, a Good Governance, a Opportunities for a youth. One moto of Education for All, a Women Empowerment, and a Inclusive Development.
Additionally, it is also on path a fast-implementation are of 13 promises in a Budget 2015-16 was supposed to be materialize during Amrut Mahotsav of year 2022, on 75th year of the Independence.
They are too resonate with vision of a AatmaNirbharta.
Highlight of Budget 2021-22 for a proposals was rest on Six pillars .
1. Health & Wellbeing
2. Physical & a Financial Capital, and a Infrastructure
3. Inclusive Development for a Aspirational India
4. Reinvigorating a Human Capital
5. Innovation and a R&D
6. Minimum Government and a Maximum Governance
1. Health & Wellbeing
There is basically a substantial increase in a investment in a Health Infrastructure and a Budget is outlay for a Health and a Wellbeing is for Rs 2,23,846 crore in a BE 2021-22 as a against this year BE of mainly Rs 94,452 crore. An increase of a 137%.
Finance Minister has announced that new and a centrally type of sponsored scheme, PM Aatma Nirbhar Swasth Bharat type Yojana, will launched an outlay of Rs 64,180 crore which is over 6 years. This a will develop with capacities of a primary, a secondary, and a tertiary care type of Health Systems.
It is strengthen existing a national institutions, and a create new type of institutions. Mainly to cater to a detection and a cure of a new and a emerging diseases. This will in addition to National Health Mission.
The main type of a interventions under this scheme are:
a. Support for a 17,788 rural and a 11,024 urban type of Health and a Wellness Centers
b. Setting up an integrated type of public health labs in all the districts and a 3382 block public health units in a 11 states;
c. Establishing a critical care type of hospital blocks in a 602 districts and a 12 central institutions;
d. Strengthening of the National Centre for a Disease Control which is NCDC, its five type of regional branches and type of metropolitan health a surveillance units;
e. Expansion of Integrated Health type of Information to a Portal to all States and UTs to connect all a public health labs;
f. Operationalization of mainly 17 new Public Health type of Units and a strengthening of a 33 which is existing Public Health Units at a Points of Entry, that is 32 Airports, a 11 Seaports and a 7 land crossings;
g. Setting up 15 type of Health Emergency type of Operation Centers and a 2 mobile hospitals; and
h. Setting up national institution for a One Health, Regional Research Platform for a WHO South East Asia of Region, 9 type of Bio-Safety Level 3 laboratories and four regional National type Institutes for a Virology.
Provision of a Rs 35,000 crore will be made for a Covid-19 vaccine in a BE 2021-22.
Pneumococcal Vaccine. Made in India product, a presently limited to 5 states, will rolled out a across country aimed at averting by 50,000 child deaths annually.
Mainly to strengthen a nutritional content, a delivery, a outreach, and a outcome, a Government will merge a Supplementary to Nutrition Programme and Poshan Abhiyan and a launch in Mission Poshan 2.0. the Government will be adopt an intensified type of strategy to improve a nutritional outcomes across the 112 Aspirational Districts.
Universal basically Coverage of Water Supply and a Swachch Bharat Mission
Finance Minister has announced the Jal Jeevan Mission of Urban, will launched for a universal type of water supply in all about number of 4,378 Urban Local Bodies with a 2.86 crore of household to tap connections. As well as of liquid type of waste management in about 500 AMRUT cities.
It will going to be implement over of 5 years, with outlay of about Rs 2,87,000 crore. Moreover, The of Urban Swachh Bharat of Mission will implemented with total financial number of allocation some what Rs 1,41,678 crore over a type number of period some what 5 years starting from 2021-2026.
Also in order to tackle burgeoning type of problem air pollution, the government had proposed to mainly provide an amount of a Rs. 2,217 crore for about 42 urban type centres with having million plus population in budget.
A voluntary type of vehicle scrapping policy to mainly remove phase out old and unfit vehicles will be was also be announced. Mainly Fitness tests have to be proposed in a mainly automated fitness type of centres after about 20 years in a case personal vehicles. And after of 15 years in a case for a commercial type of vehicles is the Highlight of Budget 2021-22.
2. Physical and a Financial Capital and a Infrastructure
Aatma Nirbhar Bharat of Production in Linked Incentive type Scheme.
A Finance Minister a said that for USD number 5 trillion of economy. Our manufacturing type of sector has to a grow in a type of double digits on a sustained type of basis. Our a manufacturing companies need to a become an integral for part of a global type of supply chains. possess a core competence and a cutting edge a technology.
To mainly achieve all the above, PLI defined schemes to create a manufacturing global a champions for basically an AatmaNirbhar type Bharat have been many announced for about 13 sectors.
The government has been committed about nearly Rs.1.97 lakh crore in a next five years which is starting FY 2021-22. This a initiative will be help bring scale and a size in a key sectors, a create and a nurture of global champions and it will provide jobs to our young youth.
Similarly type, to basically enable textile industry which become a globally competitive, a attract large type of investments and a boost employment type of generation, and a scheme of a Mega Investment Textiles Parks will going to be launched in a addition to PLI scheme. This will be create a world class infrastructure with a plug and a play type of facilities enable and create global type of champions in a exports. 7 type of Textile Parks will be going to established over number three years.
National Infrastructure OF Pipeline (NIP) which Finance Minister has announced in a December 2019 in first of kind, whole of government and a exercise ever we undertaken. NIP was a launched with a number 6835 projects. The project with pipeline which has now been expanded to a 7,400 type of projects. Around a 217 projects worth of Rs 1.10 lakh crore which is under a some key type of infrastructure Ministries which have been over or completed.
Infrastructure financing and (DFI) Development Financial Institution
Dwelling on infrastructure sector. Smt Finance minister Sitharaman said a infrastructure which needs long term of debt financing. Professionally type of managed Development Financial type of Institution is a necessary to mainly act as provider, a enabler and a catalyst for a infrastructure financing.
Accordingly, This Bill to a establish or set up a DFI will be going to introduced. The Government has been provided a amount of sum Rs 20,000 crore inorder to capitalise this type of institution and ambition to have lending portfolio minimum at least of Rs 5 lakh crore this tpe of DFI in 3 years time.
A Monetizing a operating to a public infrastructure of assets is very important type of financing option for a new infrastructure of construction. National Monetization Pipeline which is potential of Brownfield infrastructure of assets which will be going to launched. Asset Monetization which is dashboard that will also be created for a tracking the growth and a progress and to mainly provide a visibility to a investors. Some of important measures in direction of monetisation are Highlight of Budget 2021-22:
a. National Highways Authority of India NHAI and a PGCIL each have a sponsored one InvIT that is going to attract international and a domestic institutional type of investors.
A Five operational type of roads with an a estimated enterprise and a value of Rs 5,000 crore are going to being a transferred to NHAIInvIT. Also Similarily, a transmission assets of value approx Rs 7,000 crore will transferred to PGCIL InvIT.
b. Railways is going to will be monetize as Dedicated Freight type of Corridor assets for a operations and a maintenance, after a commissioning.
c. Next lot type of Airports will monetised for a operations and a management concession.
d. Other type of core infrastructure assets that is will be going rolled out under a Asset Monetization Programme are: (i) NHAI Operational Toll Roads and (ii) Transmission Assets of PGCIL , (iii) Oil and Gas Pipelines of a GAIL, and a IOCL and a HPCL , and (iv) AAI Airports in a Tier II and a III cities, and (v) Other a Railway Infrastructure Assets and (vi) Warehousing Assets of a CPSEs such as a Central Warehousing Corporation and a NAFED among the others and (vii) Sports Stadiums.
Roads and Highways Infrastructure
Finance Minister announced about that more than about 13,000 km length of roads, at mainly a cost of amount Rs 3.3 lakh crore, which has already been a awarded under Rs. 5.35 lakh crore under Bharatmala Pariyojana project ofa which about 3,800 kms which have been a constructed.
A Indian Railways have been prepared and a National Rail Plan for a India in 2030. A Plan is to mainly create future ready or a Railway system by a 2030. Bringing down logistic costs for a our company or industry is core of government our strategy to mainly enable to ‘Make in India’. It is going to expected a that Western Dedicated Freight Corridor DFC and a Eastern DFC will commissioned by a June 2022.
Past six years have been seen number of a reforms and a achievements in power sector with a addition of a 139 Giga Watts an installed type of capacity, a connecting to an additional about 2.8 crore households and a addition of 1.41 lakh a circuit km of a transmission lines.
Government will going to work towards a raising share of public type of transport in a urban areas through a expansion of a metro rail network and a augmentation of a city bus service. New scheme will launched at cost of a Rs. 18,000 crore to a support a augmentation of a public type of bus and transport services.
Ports, Shipping, Waterways
Major Ports will be a moving from a managing their a operational type of services on own to model where it is a private partner will going to manage for them. The purpose of the budget to proposes to a offer about more than about Rs. 2,000 crore by a Major Ports on a Public Private Partnership mode in a F.Y. 21-22.
Petroleum & Natural Gas
Smt Sitharaman said aanouced that government has been kept a fuel supplies a running across country a without interruption during COVID-19 a lockdown period. The Taking into note of crucial nature of sector in a people’s lives. The following are key initiatives will be being announced:
a. Ujjwala Scheme
b. Government will going to add 100 more districts in a next 3 years to City Gas type of Distribution network.
c. Gas pipeline project will taken up in a Union Territory of a Jammu and Kashmir.
d. Independent Gas type of Transport System Operator will going to be set up for a facilitation and a coordination of booking of a common type of carrier capacity in all natural type of gas pipelines to on a non discriminatory open access type of basis.
3. Inclusive Development for Aspirational India
Under pillar of a Inclusive Development for a Aspirational India. The Finance Minister has announced to a cover Agriculture and a Allied sectors. farmers’ welfare and a rural India, a migrant workers and a labour, and a financial inclusion.
The Dwelling on a agriculture, she has said that Government is a committed to welfare of a farmers. AndtThe MSP regime has a undergone sea change to a assure price that about at least 1.5 times of the cost of a production across all a commodities. Mainly the procurement has a also continued to mainly increase a steady pace. This has been resulted in a increase in a payment to a farmers about substantially.
The total amount which is to be paid to farmers in year 2013-2014 was a Rs. 33,874 crore. In of 2019-2020 it was of Rs. 62,802 crore, and a even better, in a Highlight of Budget 2021-22. This amount, paid to a farmers, was about Rs. 75,060 crore. Number of a wheat growing of a farmers that benefitted increased in a 2020-21 to a 43.36 lakhs as a compared to about 35.57 lakhs 2019-20.
The Finance Minister has proposed a substantial investments in development of a modern fishing type of harbours and a fish type of landing centres. Mainly to start with , about 5 major fishing and harbours a Kochi, a Chennai, Visakhapatnam, a Paradip, and a Petuaghat will be going to developed as a hubs of a economic activity.
Further facilitate type credit flow under scheme of a Stand Up of India for a SCs, a STs, and a women, Finance Minister has proposed to a reduce margin money type of requirement from about 25% to a 15%, and to include loans for a activities allied to a agriculture. A number of a steps were to taken to support MSME sector and this Budget, a Government has also provided Rs. 15,700 crore to sector – more than a double for this year’s BE.
4. Reinvigorating Human Capital
Finance Minister has said that National Education Policy (NEP) has announced a recently has a had good type of reception, while they had added about more than number 15,000 schools will qualitatively type of strengthened to include all a components of National Education Policy. In Budget also been announced that a 100 new type of Sainik Schools will also be set up in a partnership with a NGOs or private schools or states.
She also a proposed to a set up Higher Education Commission of India (HECI), as umbrella a body having four separate vehicles for a standard-setting, a accreditation, a regulation, and a funding. For accessible a higher education in a Ladakh, a Government proposed to been set up a University which is known as Central University in Leh.
Scheduled Castes & Scheduled Tribes Welfare
Government has been set target of a establishing about 750 Eklavya a model in a residential schools in a tribal areas with an increase in a unit cost of a each such type of school from about Rs. 20 crore to a Rs. 38 crore. And for hilly and a difficult areas, to a Rs. 48 crore.
Similarly, about under the an revamped Post Matric Scholarship Scheme for welfare of a Scheduled Castes. The Central Assistance was a enhanced and a allocated about of Rs. 35,219 crore for Six years till the year 2025-2026, to a benefit four crore SC students.
5. Innovation and R&D
Finance Minister is said that in Budget Speech of the date July 2019, She had also announced National Research Foundation and a added that NRF outlay will of Rs. 50,000 crore, over the 5 years.
It will be ensure that overall research of ecosystem of country is a strengthened with a focus on a identified national priority thrust of areas.
Government will be undertake new initiative. National Language Translation type of Mission (NTLM). This will be enable wealth of a governance and policy a related knowledge on Internet being made it available in a major Indian languages.
New Space India Limited (NSIL), and a PSU under Department of a Space will be execute PSLV-CS51 a launch, a carrying Amazonia Satellite from a Brazil, along a few smaller Indian satellites.
As a part of Gaganyaan mission of activities. Four Indian astronauts are being well trained on a Generic Space Flight aspects, in a Russia. First unmanned in launch is a slated for a December 2021.
6. Minimum Government, Maximum Governance
Dwelling on last of six pillars of Budget, Finance Minister is proposed to a take a number of a steps to a bring reforms in a Tribunals in last few years for a speedy delivery of a justice and a proposes to a take further measures to mainly rationalised functioning of a Tribunals.
Government has been introduced in the National Commission for Allied Healthcare Professionals type of Bill in a Parliament. With a view to a ensure transparent and a efficient regulation of 56 allied of healthcare professions. She also a announced that forthcoming of Census could be mainly the first type of digital census in history of the India and for this a monumental and a milestone marking a task.
About Rs. 3,768 crore is allocated in was a Highlight of Budget 2021-22.
On a Fiscal position, FM She underlined that pandemic’s has impact on economy a resulted in a weak of revenue inflow. Once health situation is stabilised. The lockdown was being slowly slowly lifted. Government spending was also being ramped up. So as to revive a domestic demand.
A result, as against an a original BE type of expenditure for Rs. 30.42 lakh crore of 2020-2021, RE estimates are being Rs. 34.50 lakh crore and a quality of a expenditure was maintained. Capital expenditure is estimated in a RE is a Rs. 4.39 lakh crore in a 2020-2021 as a against of Rs. 4.12 lakh crore in year BE 2020-21 is Highlight of Budget 2021-22.
My Name is Nadeem Shaikh the founder of nadeemacademy.com. I am a Qualified Chartered Accountant, B. com and M.Com. having professional and specialize experience in field of Account, Finance, and Taxation. Total experience of 20 years in providing businesses solution in Taxation, Accounting, and Finance with all statutory compliance with timely business performance Financials reports. You can contact me on email@example.com or firstname.lastname@example.org.