Union Finance Minister Nirmala Sitharaman on Monday presented the Union Budget 2021-22 in Parliament. Sitharaman announced a total spend of around Rs 2 lakh crore on healthcare with Rs 35,000 crore on COVID-19 vaccine development and innoculation. During her Budget speech, Sitharaman said the government has estimated fiscal deficit of 6.8 per cent of the gross domestic product (GDP) in FY22.
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Here are key highlights of FM Sitharaman's Budget speech 2021-22
- FM proposes the introduction of Aatma Nirbhar health programme with an outlay of Rs 64,180 crore; this in addition to the national health mission
- FM allocated record Rs 1,10,055 crore provided for Railways, of which Rs 1,07,100 cr for capital expenditure in 2021-22
- BPCL, Air India, Shipping Corp, Container Corp and other disinvestments will be completed in 2021-22
- Agriculture credit target raised to Rs 16.5 lakh crore in 2021-22
- The Finance Minister also allocated Rs 3,726 crore for the forthcoming Census, which will be India's first digital census
- The FM also announced the scrappage of income tax for senior citizens under certain conditions, new rules for the removal of double taxation, among others
- Govt sets aside Rs 1,500 crore for a scheme to incentivise digital mode of payment
- Relaxation in norms for setting up of One Person Company and converting to Private Limited
- Govt proposes further recapitalisation of state-owned banks; earmarks Rs 20,000 crore
- FM announces Rs 25,000 crore road projects in poll-bound West Bengal