Union Budget 2021 Live Updates: Finance Minister Nirmala Sitharaman presented the Budget in the Parliament. The budget comes at a time when India is battling the coronavirus pandemic. This was Sitharaman’s third budget under the National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi. In a significant departure from the tradition, this year’s Budget was unique as it will be paperless. #UnionBudget 2021-22: Finance Minister Nirmala Sitharaman presents the Union Budget - #Budget2021 https://t.co/Mwdlh0dzjC — Newsroom Post (@NewsroomPostCom) February 1, 2021 HIGHLIGHTS Record GST collections in last few months; govt to take every possible measure to reduce anomalies: FM Agri infra cess of 2.5% imposed on gold, silver and dore bars New Agri Infra Development Cess to be applicable from February 2, 2021 UnionBudget: Ministry of Defence allocated Rs 4,78,195.62 crores. Excluding pensions, it is pegged at Rs 3.62 lakh crore from last year’s Rs 3.37 lakh crore. Ministry of Home Affairs allocated Rs 1,66,546.94 crores. As part of the Gaganyaan mission activities, four Indian astronauts are being trained on Generic Space Flight aspects, in Russia. The first unmanned launch is slated for December 2021: Finance Minister Nirmala Sitharaman Union Budget: What got costlier, what got cheaper | Check full list Agri infra cess of 17.5% on crude palm oil, 20% on crude soyabean, sunflower oil imposed Agri infra cess of 30% on kabuli chana, 10% on peas, 50% on bengal gram/chick peas, 20% on lentil (mosur); 5% on cotton imposed in Budget As part of the Gaganyaan mission activities, four Indian astronauts are being trained on Generic Space Flight aspects, in Russia. The first unmanned launch is slated for December 2021: Finance Minister Nirmala Sitharaman I propose tax holiday for capital gains for aircraft leasing companies,tax exemption for aircraft lease rentals paid to foreign lessors;tax incentive for relocating foreign funds in IFSC&to allow tax exemption to investment division of foreign banks located in IFSC: FM Sitharaman Defence Budget 2021-22: Nirmala Sitharaman allocates Rs 4,78 lakh crore for 2021-22, ‘highest in 15 years’ Consequent to imposition of Agriculture Infrastructure and Development Cess (AIDC) on petrol and diesel, Basic excise duty (BED) and Special Additional Excise Duty (SAED) rates have been reduced on them so that overall consumer does not bear any additional burden: FM Sitharaman Gold and silver presently attract a basic customs duty of 12.5%. Since the duty was raised from 10% in July 2019, prices of precious metals have risen sharply. To bring it closer to previous levels, we are rationalizing custom duty on gold and silver: FM Nirmala Sitharaman Consequently, unbranded petrol and diesel will attract basic excise duty of Rs 1.4, and Rs 1.8 per litre respectively. The SAED on unbranded petrol and diesel shall be Rs 11 and Rs 8 per litre respectively. Similar changes have also been made for branded petrol and diesel: FM To further reduce litigation for small taxpayers I propose to constitute a dispute resolution committee which will be faceless to ensure efficiency, transparency. Anyone with a taxable income up to Rs 50 Lakhs & disputed income up to Rs 10 Lakhs eligible to approach committee: FM MSP regime has assured 1.5 times more price to farmers, says FM Sitharaman FM proposes tax exemption for aircraft leasing cos; tax exemption for notified affordable housing for migrant workers Fiscal deficit in 2020-21 pegged at 9.5% of GDP. We would need another Rs 80,000 crores for which we would be approaching the market in these two months: FM Nirmala Sitharaman Tax audit limit for NRI has been increased from 5 crore to 10 crore The forthcoming census would be the first digital census in the history of India. For this monumental task, I have allocated 3,768 crores in this year 2021-22: FM Nirmala Sitharaman. Union Budget 2021: Full text of FM Nirmala Sitharaman’s speech… Read here The forthcoming census would be the first digital census in the history of India. For this monumental task, I have allocated 3,768 crores in this year 2021-22: FM Nirmala Sitharaman. We shall reduce the compliance burden on our senior citizens who are 75 years of age & above - for senior citizens who only have pension & interest income, I propose exemption from filing their Income Tax return: FM Nirmala Sitharaman. 1,000 more mandis will be integrated with electronic national market: FM Union Budget: FM Sitharaman announces Rs 15,700 cr for MSME sector Our Govt is committed to the welfare of farmers. The MSP regime has undergone a change to assure price that is at least 1.5 times the cost of production across all commodities: Finance Minister Nirmala Sitharaman 2 new technologies - Metro Lite and Metro Neo - will be deployed to provide metro services at much less cost with same experience, convenience and safety in Tier II cities and peripheral areas of Tier I cities also. In 2021-22 we would also bring the IPO of LIC for which I am bringing the requisite amendments in this session itself: Finance Minister Nirmala Sitharaman Union Budget 2021: Fiscal Deficit pegged at 9.5% of GDP, highest in 30 years I am providing a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for Capital Expenditure only: Finance Minister Nirmala Sitharaman Govt proposes investor charter across financial products: FM Govt proposes to launch hydrogen energy mission next fiscal for generating hydrogen from green power sources: FM City gas distribution network of providing CNG to automobiles and piped cooking gas to households in 100 more districts: FM FM Sitharaman lauds Team India’s historic win in Australia during budget speech I am providing a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for Capital Expenditure only: Finance Minister Nirmala Sitharaman FM announces Rs 18,000 cr scheme to augment public transport in urban areas FM announces 7 port projects worth more than Rs 2,000 cr via PPA mode Power sector seen many reforms in last six years, 138 GW of installed capacity added, says FM Nirmala Sitharaman Union Budget 2021: Nirmala Sitharaman provides boost to affordable housing FM announces Rs 25,000 cr road projects in poll-bound West Bengal Record Rs 1,10,055 crore provided for railways, of which Rs 1,07,100 cr for capital expenditure in 2021-22: FM 8,500 kms of road, highway projects to be awarded by March 2022 to further augment road infrastructure: FM Sitharaman Proposals in Part A will strengthen the Sankalp of NATION FIRST 1. Doubling farmers' income 2. Strong Infrastructure 3. Healthy India 4. Good Governance 5. Opportunities for Youth 6. Education for All 7. Women Empowerment, and 8. Inclusive Development et. al.: FM Union Budget: FM Sitharaman proposes to set up central university in Leh Pipelines of GAIL (India) Ltd, Indian Oil Corp (IOC) and HPCL will be monetised, says FM in Budget for 2021-22 I have provided Rs 35,000 crores for COVID19 vaccine in this year 2021-22. I am committed to provide further funds if required: Finance Minister Nirmala Sitharaman. Railway to monetise dedicated freight corridors, says FM Sitharaman in her Budget speech on monetisation of assets Over 13,000 km length of roads at a cost of Rs 3.3 lakh cr has already been awarded under Rs 5.35 lakh cr Bharatmala project of which 3,800 kms have been constructed. By March 2022 we'd be awarding another 8,500 & complete an additional 11,000 kms of National Highway Corridor: FM FM says national monetisation pipeline for potential brownfield infrastructure assets will be launched Govt to introduce bill to set up development financial institution with an outlay of Rs 20,000 cr: FM A new centrally sponsored scheme PM Atmanirbhar Swasth Bharat Yojana will be launched with an outlay of about 64,180 crores over 6 years: Finance Minister Nirmala Sitharaman. For 2021-22, I propose a sharp increase in Capital Expenditure & thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE 2020-21: FM Nirmala Sitharaman The Budget proposals for 2021-12 rest on six pillars —health & well-being, physical & financial capital & infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation & R&D, Minimum Govt & Maximum Governance: FM Nirmala Sitharaman India now has one of the lowest COVID19 death rates of 112 per million population and one of the lowest active cases of about 130 per million. This has laid the foundation for the economic revival we see today: Finance Minister Nirmala Sitharaman in Parliament This Budget will be the first of this new decade. Budget 2021 will also be a digital budget: Finance Minister Nirmala Sithraman Only three times has the Budget followed a contraction in the economy. This time, unlike before, the situation is due to a global pandemic. Budget 2021 provides every opportunity for economy to capture pace and grow sustainably: FM Nirmala Sitharaman The Government stretched its resources for the benefit of the poorest of the poor. The PM Garib Kalyan Yojana, the three Aatma Nirbhar Bharat packages and subsequent announcements were like five mini-budgets in themselves: FM Nirmala Sitharaman I borrow the words from Rabindranath Tagore, "Faith is the bird that feels the light and sings when the dawn is still dark". In this spirit, I can't help but recall the joy that we as a Cricket loving nation felt after Team India's recent spectacular success in Australia: FM Today India has 2 vaccines available and has begun safeguarding not only her own citizens against #COVID19 but also those of 100 or more countries. It has added comfort to know that 2 ore more vaccines are also expected soon: FM Nirmala Sitharaman In May 2020, Govt announced the Atmanirbhar Bharat package, to sustain the recovery further we also rolled out two more Atmanirbhar packages. Total financial impact of all packages including measures taken by RBI was estimated to be about Rs 27.1 lakh crores:FM Nirmala Sitharaman The preparation of this Budget was undertaken in circumstances like never before, in view of calamities that have affected a country or a region within a country. But what we have endured with COVID-19 to 2020 is Sui generis: FM Nirmala Sitharaman Cabinet approves Union Budget 2021-22 Lok Sabha Speaker Om Birla arrives at the Parliament. BJP MP Hema Malini arrives at the Parliament. #WATCH Delhi: Finance Minister Nirmala Sitharaman and MoS Finance & Corporate Affairs Anurag Thakur arrive at the Parliament. #Budget2021 pic.twitter.com/7j3ippMsPm — ANI (@ANI) February 1, 2021 Delhi: Union Home Minister Amit Shah and Union Health Minister Dr Harsh Vardhan arrive at the Parliament. #UnionBudget2021 pic.twitter.com/l4qT25i0As — ANI (@ANI) February 1, 2021 Finance Minister @nsitharaman, MoS Finance & Corporate Affairs @ianuragthakur, and senior officials of the Ministry of Finance, called on President Kovind at Rashtrapati Bhavan before presenting the Union Budget 2021-22. pic.twitter.com/FUNptDXnHB — President of India (@rashtrapatibhvn) February 1, 2021 Delhi: FM Nirmala Sitharaman and MoS Finance Anurag Thakur leave from Ministry of Finance. FM will present #UnionBudget 2021-22 at Parliament today. For the first time ever, the Budget will be paperless this year due to COVID. It will be available for all as a soft copy, online pic.twitter.com/DYm8cf1DIH — ANI (@ANI) February 1, 2021 Delhi: Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present the #UnionBudget 2021-22 in the Parliament today. pic.twitter.com/rtS3izUHcm — ANI (@ANI) February 1, 2021 Delhi: MoS Finance and Corporate Affairs Anurag Thakur arrives at the Ministry of Finance. Finance Minister Nirmala Sitharaman will present the #UnionBudget2021 in the Parliament today. pic.twitter.com/BCseZKsJez — ANI (@ANI) February 1, 2021 Budget will be in accordance with people's expectations. Govt which functions on mantra of 'Sabka Saath, Sabka Vikas, Sabka Vishwas' gave new direction to India by announcing Aatmanirbhar package, protecting it from pandemic & bringing economy back on track swiftly: MoS Finance https://t.co/w6GKYLfQsu pic.twitter.com/dQ7U3NW40Z — ANI (@ANI) February 1, 2021 Delhi: MoS Finance Anurag Thakur offers prayers at his residence, ahead of the presentation of the #UnionBudget 2021-22 in the Parliament today. pic.twitter.com/EtVFtzrNj7 — ANI (@ANI) February 1, 2021
