Key points of the Union Budget 2021
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Key points of the Union Budget 2021
Yesterday, Union Finance Minister Nirmala Sitharaman announced the budget for 2021-22. What are some of its key points? Let’s find out.
This year’s budget has a strong focus on healthcare. The country’s healthcare spending would be doubled to ₹2,23,846 crore. Out of this, ₹35,000 crore would be spent on COVID-19 vaccines.
A new centrally sponsored scheme, PM AatmaNirbhar Swasth Bharat Yojana, will be launched. This scheme will support for 17,788 rural and 11,024 urban Health and Wellness Centres across India. The amount will also be used for building new hospitals, medical institutions, etc.
Key points of the Union Budget 2021
The amount allotted for capital expenditure has been increased to ₹5.54 lakh crore. This is around 34% higher than last year.
What is capital expenditure?
Capital expenditure is the money spent by a business or organisation on acquiring or maintaining fixed assets, such as land, roads, buildings, and equipment.
₹1,10,055 crore has been allocated for Indian Railways, out of which ₹1,07,100 is for capital expenditure. The Indian Railways have also prepared a National Rail Plan for India – 2030. The Plan is to create a “future ready” railway system by 2030.
The agriculture and farmers’ welfare ministry received 5.63% more budget allocation than last year at ₹1,31,531 crore. Half of it will be spent on the PM-Kisan scheme. This scheme is an initiative by the government in which all farmers will get up to ₹6,000 per year as minimum income support.
Key points of the Union Budget 2021
There is not much increase in the budget for the military, compared to last year. But the government has allocated an extra ₹20,776 crore for emergency arms purchase in view of the ongoing clashes with China at the border.
There will be special highway projects for four states – Tamil Nadu, West Bengal, Assam and Kerala. Two new metro projects – Metrolite and MetroNeo – was also announced for Tier 2 cities (smaller cities in India).
Senior citizens above 75 years of age with only pension and income from interest no longer need to file income tax returns.
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