Union Budget 2021: Highlights

The key takeaways from the third Budget of the second Narendra Modi government tabled by Finance Minister Nirmala Sitharaman in the Parliament on Feb 1, 2021. This interactive page is live updating and you can use the filters to have a clearer view of the different important announcements made in Budget 2021. You can also see which products and services would be cheaper after the Budget and what is expected to be costlier.

Budget

Parts of Aircrafts by Public Sector Units of Defence Ministry

Budget

Platinum and Palladium

Budget

Husbandry Feed Additives

Budget

Precious Metal Coins

Budget

Waste and Scrap of Precious Metals

Infrastructure

Copper Scrap

Infrastructure

Iron and Steel Melting Scrap

Budget

Solar Lanterns or Solar Lamps

Budget

Compressor of Refrigerator/Air Conditioner

Infrastructure

Cotton

Agri infra cess of 5% imposed on cotton (not carded or combed).

Infrastructure

Specified Fertiliser

Agri infra cess of 5% on specified fertiliser (urea, etc).

Infrastructure

Coal, Lignite and Peat

Agri infra cess of 1.5% on coal, lignite and peat.

Budget

Apples

Agri infra cess of 35% on apples.

Budget

Crude Soyabean and Sunflower Oil

Agri infra cess of 20% on crude soyabean and sunflower oil.

Budget

Crude Palm Oil

Agri infra cess of 17.5% imposed on crude palm oil.

Budget

Gold, Silver & Dore Bars

Agri infra cess of 2.5% levied on gold, silver and dore bars.

Health

Alcohol

Agri infra cess of 100% has been imposed on alcoholic beverages.

Auto

Diesel

Agri cess of Rs 4 per litre has been imposed on diesel.

Auto

Petrol

Agri cess of Rs 2.5 per litre has been imposed on petrol.

Budget

Sensex Gains More Than 1,300 Points, Nifty Above 14,000

Income Tax

No Changes in Personal Income Tax

No changes have been introduced in personal income tax.

Corporate Sector

Aim to Deter Companies That Don't Deposit Employees' Pension Contribution on Time

Employers who are late in depositing employee contribution to pension, gratuity will not get deduction for this. The aim is to deter companies that do not deposit on time.

Income Tax

Income Tax Return Forms Further Simplified

FM Nirmala Sitharaman says that income tax return forms have been further simplified.

Budget

Fiscal Deficit Target Kept at 9.5%

FY21 fiscal deficit pegged at 9.5% of GDP. Further, the FY22 fiscal deficit has been pegged at 6.8% of GDP. Gross market borrowing target is at Rs 12 lakh crore for FY22. We will approach the market for additional Rs 80,000 crore to fund FY21 fiscal deficit. We hope to get back on the fiscal consolidation path by FY26: FM

Income Tax

Timeline for Reopening of Tax Returns Reduced

Timeline for reopening of tax returns has been reduced from 6 years to 3 years.

Corporate Sector

LIC IPO to be Launched Within Next Financial Year

Sitharaman announced that the much awaited LIC IPO will be launched within the next financial year. She added that legislative amendments to this effect will be launched in the Parliament in the Budget session.

Income Tax

Senior Citizens Exempted from Filing Income Tax

Senior citizens above the age of 75 years will not be required to file income tax returns, says FM Nirmala Sitharaman.

Budget

Rs 1,500 Crore Allocated to Further Promote Digital Payments

A provision of Rs 1,500 crore has been made in the Budget for further promoting digital payments.

Budget

India to Hold First Ever Digital Census

The forthcoming census will be the first ever digital census in the history of India, says FM Nirmala Sitharaman.

Infrastructure

MSP on Paddy to be Doubled This Year

Paddy MSP to be doubled this year. 1.5 crore farmers will benefit from increased MSP. Cotton farmers saw a stupendous increase in the amount that was paid to them in 2013-14, that was 90 crore and it has increased to over 25,000 crore in 2020-21.

Corporate Sector

Mega Investment Textile Parks to Be Launched

Scheme of Mega Investment Textile Parks to be launched, in addition to PLI scheme, to create world-class infra in textile sector, with plug-and-play facilities, to create global export champions. 7 textile parks to be set up over 3 years.

Infrastructure

Allocation of Rs 1.1 Lakh Crore for Railways

Finance Minister Nirmala Sitharaman said that the government is providing a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for capital expenditure only.

Infrastructure, Health

Govt Allocates Rs 2,217 to Cities to Tackle Air Pollution

The government has announced an allocation of Rs 2,217 crore for 42 urban centres with million-plus population, to tackle burgeoning problem of air pollution.

Corporate Sector

FDI in Insurance Raised to 74 percent

The FDI in insurance has been raised from 49 percent to 74 percent. The key management will be resident Indians.

Infrastructure

Ujjwala Scheme to be Extended to 1 crore More Beneficiaries

Ujjwala scheme will be extended to Cover 1 crore more beneficiaries, the Finance Minister said.

Infrastructure

New Scheme to Support Augmentation of Bus Transport Services

A New Scheme will be launched at a cost of Rs 18,000 crores to support augmentation of Public Bus Transport Services.

Infrastructure

Rs 25,000 Crore Allocated for Road Projects in West Bengal

Finance Minister Nirmala Sitharaman announced Rs 25,000 crore allocation for roads in West Bengal, with emphasis on the upgradation of the road from Kolkata to Siliguri.

Health

PM Aatmanirbhar Swasth Bharat Yojana to be Launched

A new Centrally sponsored scheme PM Aatmanirbhar Swasth Bharat Yojana to be launched with an outlay of ₹ 64,180 crore over 6 years. This will be done to develop capacities of health care systems, develop institutions for detection and cure of new and emerging diseases.

Health

Rs 35,000 Crore Allocated to Covid-19 Vaccines

The government will allocate Rs 35,400 crore towards Covid-19 vaccines for FY22 and is committed to more if required.

Health

Outlay for Health and Well-being Increased to Rs 2.2 Lakh Crore, Says Finance Minister

Finance Minister Nirmala Sitharaman said that the total outlay for health and well-being is Rs 2,23,246 crore. This is an increase of 137 percent as compared to last budget's allocation which was close to Rs 94,000 crore.

Budget

Finance Minister Nirmala Sitharaman to Read out Budget at Parliament Through a Tab

Finance Minister Nirmala Sitharaman will present and read out the Union Budget at the Parliament through a tab, instead of the traditional 'bahi khata'.

Budget Will be in Accordance with People's Expectations: Anurag Thakur

"Budget will be in accordance with people's expectations. The government, 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 Anurag Thakur said.

Income Tax

More Exemptions in New Personal Income Tax System Introduced Last Year Likely

Income Tax

Finance Ministry May Give Relief Up to Rs 80,000 in Total Tax Liability

Health

Budget 2021 Must Find a Way to Re-Imagine Public Health System

Auto

Expectations of Indian Auto Industry - Tax Reduction to Vehicle Scrappage Policy

Corporate Sector

What Corporate India Can Expect from Union Budget 2021

Infrastructure

Why Infra Sector Needs Special Focus to Boost Recovery Post Pandemic

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