Positive and Negative Points of Budget 2021-2022
As most of us know the Nirmala Sitaraman presented the 2021-2022 budget on 1 February 2021. She has decided on Budget in Majorly some terms such as health Sector, transportation, and infrastructure development, etc.
The 6 pillars of the Budget in 2021-2022
1. Health and Wellbeing
2. Physical & Financial Capital, and Infrastructure
3. Inclusive Development for Aspirational India
4. Reinvigorating Human Capital
5. Innovation and R&D
6. Minimum Government and Maximum Governance
After analysis of budget so are positive points and some are negative points of the budget which are given below…
Some of the Advantages
1. PM independent health scheme:- Nirmala Sitaraman’s majority focused was on the health sector so she decided 64,180 crore rupees for pm health scheme, on the other hand, the overall amount for the health sector is 2.87 lakh crores.
- 35 thousand crores expenditure will be for “Mission Posan 2.0.
- Valence centers will be built
Effect: this scheme will be beneficial for the rural people because most of the amount will be used for rural development.
2. Rail, bus and metro: The government did a big announcement for the bus and metro because the 20 thousand bus will be running in urban areas and in year 2 cities metro will be starting.
- The Land minister, budget is 1.18 lakh crores.
- The Budget for the railway is 1.1 lakh crores rupees.
Effect: this rail and bus Budget will be beneficial for the whole country because this will the strong infrastructure of India.
3. No changes in tax slabs:- Due to Corona the income of Indians has decreased but the expenditure has increased in this situation the expectations were to increase the income tax but it didn’t.
- No extra pay will be by ITR people.
Effect: In the whole country approximately 6 crores people are borrowing givers in which 3 crores are individual these 3 crores people will be taking benefit of this.
4. Focused on infrastructure development:- government is focusing to provide better infrastructure to India so goverment took the following decisions
- 7 textiles will be built in the next 3 years.
- For infrastructure development, a new bank will be formed.
5. Jewelry might be cheaper:- gold and are favorite Jewel of females so they will be taking the benefits of this decision.
- Now the 10.75% charges will be on
- Due to low charges on jewelry, the rate might be decreased.
Must-Know:- Budget Analysis of 2021-2022
Some of the Disadvantages
1. No clarity for government job:- government announced 1.5 lakh jobs but there is no specific time, date, and category for these.
- How many people got jobs in last year no data, so it might be the same in next year also.The government focused only on strong
- infrastructure but how the government will do without manpower.
Effect:- approximately 20 crores candidates expected for a government job but these are not in the budget so candidates are will be affected by this decision of the government.
2. No focused on farmer income:- farmers are the bone of India so Government has the responsibility to make them happy with good decisions but nothing is for them in the budget.
- 1.72 Lakh crores are announced for the farmer industry.
- no, a committee is formed for farmers helping.
Effect:- Approximately 14 crores of farmers are dissatisfied with this decision.
3. The government asset will be sold:- Selling the government asset means decreasing the Indian asset and giving the right to private people which can create Monopoly for them.
- 2 government and 1 private bank will be amalgamation.
- The amount of selling assets decreased to 1.75 lakh crores.
Effect:- Due to privatization getting government jobs chances will decrease meanwhile in the private sector there will be an increase.
4. Dream of the home once more will be affected:- people were thinking to help for a home loan but the scheme of 1.5 lakh will be carried forward to the next year.
- No rebate for home buyers
- No plan for any new scheme for home buyers
Effect: who were dreaming the home by loan now have to wait for the right time
5. No roadmap for increasing income:- there is not planned any new idea for increasing the income only focus is for taking the loan, meanwhile, petrol and Diesel might increase the revenue.
- Next year 12 lakh crore rupees will be borrowed.
- Gross tax might go to 22 lakh crore rupees.
Effect:- Due to Increasing loans, interest will be in reading automation which can create a trap.