Hello everyone welcomes to Twinkle Talks (www.twinkletalks.com). In this article, I am going to discuss the Indian union budget for the Financial year 2021-22 introduced by Financial Minister Srmt. Nirmala Sitharaman Garu in the Indian parliament on 1-02-2021.
|Total Budget = Rs. 3,48,3236/- crores|
|Revenue Income = Rs. 1,78,8424/- crores|
|Capital = Rs. 1,69,4812/- crores|
Indian Finance Minister Introduced the Union Budget in two parts like Part-A and Part-B. In this article we are going to discuss some topics in Part-A.
1.. New Income Slabs Rates for AY 2021-22: ( same as previous Year 2020-21)
a) For Individuals (Aged less than 60 years).
Ministry of Finance, introduced the new income tax slabs for the FY2020, check the details & compare with previous one in below tabular columns.
|Income slab (income per annum)||Tax %|
|Upto Rs. 2.5 Lakhs||0|
|Rs. 2,50,001 to Rs. 5,00,000||5%|
|RS.5,00,001 to Rs. 7.5 Lakhs||10%|
|Rs. 7,50,01 to Rs. 1 crore||15%|
|Rs. 10,00,001 to Rs. 12.5 crore||20%|
|RS. 12,50,001 to Rs. 15,00,000||25%|
|Above Rs. 15 crore||30%|
Part – A
The budget proposals for 2021-22 rest on 6 pillars.
- Health and wellbeing.
- Physical and financial capital, and infrastructure.
- Inclusive development for Aspirational India.
- Reinvigorating human capital.
- Innovation and R&D.
- Minimum Government and Maximum governance.
1. Health and Wellbeing
Ministry of Finance allocated Rs. 2,23,846/- cr for the Health sector.
a) Covid-19 vaccination:
Government provided ₹ 35,000 /- crores for the covid-19 vaccine for BE 2021-22 and the Indian government committed to provide further funds if required.
b) Swachch Bharat, Swasth Bharat:
The Urban Swachch Bharat Mission 2.0″ will be implemented with a total financial allocation of ₹ 1,41,678/- crores over 5 years from 2021-26.
Indian government focused on:
|Faecal sludge management|
|Source segregation of garbage|
|Reduction in single-use plastic|
|Reduction in air pollution by effectively managing waste from construction|
|Bio- remediation of all legacy dump sites|
- c) Clean Air: The Government was providing ₹ 2,217 /- cr to tackle the burgeoning problem of air pollution in 42 urban centres with a million-plus population.
- d) The Jal Jeevan Mission(Urban): This MIssion will be implemented over 5years, with an outlay of ₹ 2,87,000 /- cr.
It Aims at a universal water supply in all 4,378 Urban local bodies with 286 crores household tap connections.
Liquid waste management, in 500 AMRUT cities.
e) PM Atmanirbhar swasth Bharath Yojana: ₹ 64,180/- allotted to this centrally sponsored scheme over 6 years. This will develop capacities of primary, secondary, and teritary care Health sysytems, strengthen existing natioanl institutions, and create new institutions.
The Main Interventions under the scheme are
|Support for||17,788 rural and 11,024 urban health and wellness centers.|
|Establishing||critical care hospital blocks 602 districts and 12 central institutions.|
|Setting up||integrated public health labs in all districts and 3382 block public health units in 11 states.|
|Setting up||15 Health Emergency Operation centers and 2 Mobile hospitals|
|Operationalisation of||17 new Public Health Units|
|Also||Strengthening of 33 existing Public health units at Points of entry, i.e, 32 Airports, 11 Seaports and 7 Land crossings.|
|Setting up||A National Institutions for health, a Regional Research Platform for WHO South East Asia Region.|
|Also||9 Bio-safety Level III laboratories and 4 regional National Institues for Virology.|
d) Scrapping policy:
Ministry of finance separately announced the scrapping policy, to phase out old and unfit vehicles voluntarily by the vehicle owners to the scrap.
Vehicles would undergo fitness tests in automated fitness centres;
|In case of||After|
|Personal vehicles||20 years of purchasing|
|Commercial vehicles||15 years of purchasing.|
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