Indian Budget 2021-22: Full Analysis, Simple and Easy Words
Indian Budget 2021-22: Full Analysis: Indian finance minister Smt Nirmala Sitaraman presented the Indian Budget for 2021-22. Finance minister Smt Nirmala Sitaraman presented the report via a tab in place of diary/register, this is a sign of the digital world.
A Quick Glance of Major things of Indian Budget 2021-22:
- Education – Budget of 93,244 crores
- Health – Budget of Rs 2.23 lakh crore
- Jaljeevan Mission – 2.87 lakh crore rupees budget
- MSME- Budget of 15 thousand 700 crores
- National Research Foundation – Budget of 50 thousand crores
- Railways – Budget of 1 lakh 10 thousand crores
- Road Transport – Budget of 1.18 lakh crores
- Self-reliant India – 1.97 lakh crore rupees budget
- Swachh Bharat Mission – 1.42 lakh crore rupees budget
- Vaccine – Budget of 35 thousand crores
Education – Budget of 93,244 crores
Talking about the field of education, it has been said that 100 new military schools will be built.
Apart from this, the government will create Higher Education Commission. Which will act as a regulator for higher education.
15 thousand model schools will be formed. These schools will be based on the new education policy and will strengthen the education infrastructure.
Central University has been announced in Leh. After changes in Article 370, Ladakh was made a union territory. This is a big announcement for him.
Apart from this, the Finance Minister has also announced the creation of 758 Eklavya schools.
Health – Budget of Rs 2.23 lakh crore
Prime Minister self-reliant health scheme will be implemented. A website will be created for the public health sector.
Wellness centers will be built in rural-urban areas. Two mobile hospitals will be built.
Work will be done for the betterment of the National Health Center. Four virology institutes will be built in the country.
The Finance Minister mentioned the corona and also said that soon two corona vaccines will come.
Corona vaccination continues at this time. In this case, 35 thousand crores has been allocated for the vaccine.
With this, the government aims to create a malnutrition-free India, for this Mission Nutrition 2.0 will be launched in the country.
Agriculture Budget for 2021-22
MSME- Budget of 15 thousand 700 crores
Announcing the agriculture sector, a budget of 1.72 lakh crore was announced for agriculture. Farmers will get one and a half times more MSP than the cost.
Along with this, a payment of 1.7 lakh crores was announced to the paddy farmers.
An allocation of Rs 75060 crore has been made to the farmers who grow wheat.
Allocation of 16.5 lakh crore for agricultural loans, 1000 new e-mandis will be formed. Infra funds will also be given for APMC.
Apart from this, an allocation of 40 thousand crore rupees has been made for animal husbandry-dairy, the announcement of the construction of 5 fishing hubs for fisheries, and 40000 crores for rural infrastructure.
Railways – Budget of 1 lakh 10 thousand crores
It has been announced in the budget that a new national rail scheme will be prepared. Under this, new types of coaches will be made on the tourist route. A budget of 1 lakh 10 thousand crores has been allocated for the Railways under the scheme.
The National Rail Scheme has also been targeted to be completed by 2030.
A future-ready rail system will be made. With this, the freight corridor will be prepared by June 2022.
Along with this, the biggest goal is that the broad gauge will be electrified by 2023. With the completion of these schemes soon, the direction of the railway will change.
11 thousand crores for metro, 1016 KM metro in 27 cities
Road Transport – Budget of 1.18 lakh crores
- It was announced in the budget that by 2022 8,500 KM road contract will be awarded.
- Plan to build 3000 KM road in Bharatmala
- Tamil Nadu will have 3500 KM highways
- Kerala-1100 KM highway to be commissioned, 65,000 crore rupees on transport in Kerala. Spending was allocated.
Major things about Income Tax Slab in Budget 2021-22
There is no relief in the middle-class tax slab. But there has been an increase in cess on petrol and diesel.
The Finance Minister said that India has the lowest corporate tax. He said that old cases of tax evasion will open. This will be the biggest step against economic crime.
It was announced in the budget that pensioned elderly people will not have to fill ITR. Small taxpayers will have less tax.
No tax on pension income. Apart from this, the government’s discount on home loans will remain till 2022.
No tax has been announced on startup till 31 March 2022.
Major things about the Finance in Budget 2021-2022
- There will be changes in the Insurance Act 1938 in the budget. FDI will be increased from 49% to 74% in the insurance sector.
- It will be brought IPO for LIC this year 20,000 crores investment in government banks. Asset management company to relieve banks from NPA
- The Finance Minister said that 7 textile parks will be built in 3 years. A target of business of 22 thousand crores has been set.
- Announcement of creating DFI for global competition, 5 lakh crores will be spent under it
- Manufacturing hubs will also be built in the country. Young people will get a big benefit from these
Special things for the middle class
- Customers will be able to choose an electricity company
- Self-reliant health plan
- Ujjwala Yojana – New 1 crore people
- Gas pipelines in 100 new districts
- No relief to taxpayers from no change in tax slab
- Will take a loan of 12 lakh crore in 2021-22.
- 6.8% fiscal deficit target in 2021-22
- Financial deficit to be 9.5% of GDP in 2020-21
- Sick PSU will be closed
These changes will happen in disinvestment
- Air India will be disinvested
- BPCL will be disinvested
- BHEL will be disinvested
- SCI will be disinvested
- CONCOR will be disinvested
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Know what is expensive – what is cheap this year
These will be cheap
- Nylon clothes will be cheap
- Steel utensils will be cheap
- The paint will be cheaper
- Dry cleaning will be cheaper
- Polyester fabric cheap
- The solar lantern will be cheaper
- Gold and silver will be cheaper
These will be expensive
- Mobile phones will be expensive
- Mobile chargers will be expensive
- Discount on mobile parts reduced
- Gems will be expensive
- Shoes will be expensive
- Leather will be expensive