Budget 2021 Live Updates: Ujjawala Scheme to Cover an Additional 1 Crore People; Rs. 1, 000 Crore to Solar Energy Corporation

Finance Minister has recently concluded her first paperless digital Union Budget 2021-22 in the parliament. In her Union Budget 2021-22 which is divided into six pillars has come up with many new schemes and reforms. Moreover, Sitharaman Announces Rs 35,000 cr on Covid-19 Vaccine, Rs 3.05 lakh crore outlay for power sector, Rs 3,768 crore for Census and affordable Housing Schemes for all. 

Key Points Budget 2021-22 

• Union Budget 2021 live: India Budget 2021: Six pillars of Budget

Health and wellbeing 

Infrastructure 

Inclusive development 

Development of human capital 

Research and development 

Minimum government, maximum governance 

Sitharaman Announces Rs 35,000 cr on Covid-19 Vaccine for 2021-22 

Rs 3.05 lakh crore outlay for power sector: FM Sitharaman 

Jal Jeevan Mission to be launched with an outlay of 2.87 thousands crores to cover 286 crore households 

FM gives boost to renewable energy sector 

Rs 1,000 crore to solar energy corporation and Rs 1,500 to renewable energy development agency: FM 

Budget 2021: Gas pipeline project to be taken up in J&K 

Finance Minister Nirmala Sitharaman announces a new gas pipeline project for Jammu and Kashmir  

 Svamitva Schemes expanded to all states and UTs. 

'One Nation One Ration Card' for migrant workers to be implemented in 32 states and UTs. 

Minimum wages for labors 

Ujjawala Yojana 

The government has announced the extension of benefits of the Ujjawala scheme to an additional 1 crore people .

Central University to be established in Leh, Ladakh 

Special scheme for Assam and WB tea workers 

Rs 1,000 crore for Bengal, Assam tea workers 

The number of wheat, paddy, cotton growing farmers increased compared to last years: FM 

Fiscal deficit for 2021-22 at 6.8% of GDP 

Fiscal deficit for 2021-22 at 6.8% of GDP 

Rs 3,768 crore for Census: FM 

Affordable Housing Schemes for all 

Rs 300 crore to Goa for Liberation anniversary 

LLP Act to improve ease of doing business 

Exemption from filing tax for elderly 

We shall reduce compliance burden on senior citizens. For senior citizens who only have pension and interest income, I propose exemption of filing of income tax returns: FM 

NRIs allowed to operate One Person Companies in India 

• Tax holiday for start-ups increased by one more year - till March 31, 2022

• NRIs allowed to operate One Person Companies or OPCs in India

Budget 2021: FM on customs duty 

• Exemption duty on steel scrap up to March 2022; customs duty on naphtha cut to 2.5 pc: FM

• Rationalisingcustoms duties on gold and silver, says FM in Budget for 2021-22 

• Customs duty on cotton increased to 10%, silk to 15%

• Customs duty on solar lanterns cut to 5%

 Government to increase maximum threshold paid-up capital of small companies 

Government to increase maximum threshold paid-up capital of small companies from Rs 50 lakh to Rs 2 crore and increase the threshold of maximum turnover from Rs 2 crore to Rs 20 crore. 

India's fiscal deficit 

India’s fiscal deficit is set to jump to 9.5 per cent of Gross Domestic Product in 2020-21 as Revised Estimates presented by Finance Minister Nirmala Sitharaman today. This is sharply higher than 3.5 per cent of GDP that was project in the Budget Estimates. Slump in government revenues amid the Covid-19 pandemic has led to sharp rise in deficit and market borrowing.