The key snippets from the Union Budget 2021-22 for upraising COVID hit economy!

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Union Finance Minister Nirmala Sitharaman presented the Union Budget for the year 2021-22 and we are here to highlight some of the major pointers that were covered under the Budget for the year. Have a look – 

  1. The Government’s Aatmanirbhar packages totaling Rs 27.1 Lakh Crore to deal with the COVID pandemic will catalyze the structural reform. 
  2. Finance Minister also mentioned the Aatmanirbhar Health Programme with an outlay of Rs 64,180 Crore. This is an addition to the National Health Mission. 
  3. India has two COVID-19 vaccines i.e. Covaxin and Covishield and it is noted that two more will be launched. “I have provided Rs 35,000 Crore for COVID-19 vaccine in this year 2021-22. I’m committed to provide further funds if required. The Budget outlay for health and well being is Rs 2.23 Lakh Crore in 2021-22 as against BE of Rs 94,452 Crore and marks an increase of 137 percent,” FM Sitharaman said while presenting 2021-22 Finance Budget in the Lok Sabha.
  4. Pipelines of GAIL (India) Ltd, Indian Oil Corp (IOC), and HPCL will be monetized, for the year 2021-22.
  5. The much-awaited voluntary vehicle scrapping policy to come in force to phase out old and polluting vehicles from the nation.
  6. The proposal for an increase in the capital expenditure to Rs 5.54 Lakh Crore in the financial year starts from April 1, 2021, which was Rs 4.12 Lakh Crore in the FY 2020-21.
  7. The Centre announced 1 Crore more beneficiaries for the free cooking gas LPG scheme, Ujjwala, and its extension shall help the masses of the nation, especially the people below the poverty line. 
  8. The government also proposed the idea of promotion of digital payments in the country and Rs.1500 Crore to be allotted for the same. “To give a further boost to digital transactions, I earmark Rs 1,500 Crore for a proposed scheme that will provide financial incentive to promote digital mode of payment,” Sitharaman said.
  9. The Finance Minister announced Rs. 18,000 Crore scheme for the augment of public transports in the urban areas.
  10. A record-setting Rs 1, 10,055 Crore is noted to be allocated for Railways, of which Rs 1,07,100 Crore will be under capital expenditure in 2021-22.

Do comment and let us know what you feel about the Budget for the year and what key pointers you feel were of most importance. 

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