Top 15 Highlights of Union Budget 2021
Here’s the complete list of points which are going to be changed. look at the list / major points.
- Tax relief for pensioners (Pensioners aged more than 75 do not need to file Income Tax Returns).
- A scheme of mega investment textile parks
- Two Public Sector Banks (PSBs) and one general insurance company will be divested.
- The MSP regime has undergone a change to assure price that is at least 1.5 times the cost of production across all commodities.
- IPO for LIC this financial year
- Infusion of Rs 20,000 crore for public sector banks
- FDI in Insurance raised from 49 per cent to 74 per cent
- Indian Railways gets 1.1 lakh crore.
- Vehicles to undergo a fitness test in automated fitness centres after 20 years (personal vehicles) and 15 years (commercial vehicles).
- Centre to provide Rs 35,000 crore for Covid-19 vaccination.
- Union Budget 2021 outlay for the health sector is over 2.23 lakh crore.
- Budget for 2021-22 imposed a Rs 2.5 per litre agri infra cess on petrol, Rs 4 on diesel. Agri infra cess of 30 per cent on kabuli chana, 10 per centon peas, 50 per cent on bengal gram/chick peas, 20 per cent on lentil (mosur); 5 per cent on cotton, 2.5 per cent imposed on gold, silver and dore bars; 35 per cent on apples; 5 per cent on specified fertilizer; 1.5 per cent on coal, lignite and peat. 100 per cent on alcoholic beverages, 17.5 per cent on crude palm oil, 20 per cent on crude soyabean, sunflower oil imposed in Budget. New Agri Infra Development Cess to be applicable from February 2, 2021.
- The government plans to set aside Rs 15,700 crore in FY22 and proposes to reduce margin money requirement from 25% to 15% for startups..
- FM extends eligibility for claiming tax holiday, capital gains exemption.
- Interest earned on PF contributions above Rs 2.5 lakh to become taxable.
