Budget 2021 Highlights: From Railways, Highways, Coronona vaccine and more, know what benefits FM Nirmala Sitharaman announced today

Finance Minister Nirmala Sitharaman on Monday unveiled the budget for fiscal 2021-22, that aims to shore up an economy badly-hit by the novel coronavirus pandemic. 

ZeeBiz WebTeam | Feb 01, 2021, 03:34 PM IST

The economy is projected to contract 7.7% in the current fiscal year, although the government forecasts growth of 11% for the coming fiscal year, after a massive COVID-19 vaccination drive and a rebound in consumer demand and investments.  These are the initial highlights from Sitharaman`s fiscal 2021-22 budget speech: 

 

  

 

 

  

  

1/17

2.2 trillion rupees on healthcare

2.2 trillion rupees on healthcare

India to allocate 2.2 trillion rupees ($30.20 billion) for healthcare in 2021/22  

2/17

New federal health scheme

New federal health scheme

India to launch new federal health scheme with outlay of around 641 billion rupees ($8.80 billion) over the next six years. 

3/17

350 billion rupees for COVID-19 vaccines

350 billion rupees for COVID-19 vaccines

To allocate 350 billion rupees ($4.81 billion) for COVID-19 vaccines, and allocate more funds if needed

4/17

New vehicle scrapping policy

New vehicle scrapping policy

 Finance Minister said India to launch new vehicle scrapping policy 

5/17

Monetising infrastructure assets

Monetising infrastructure assets

India to monetise infrastructure assets, said Finance Minister 

6/17

2.87 trillion rupees ($39.40 billion) for clean water

2.87 trillion rupees ($39.40 billion) for clean water

To allocate 2.87 trillion rupees ($39.40 billion) for clean water supplies over the next five years. 

7/17

Two more vaccines

Two more vaccines

Finance Minister Sitharaman says expect two or more COVID-19 vaccines soon

8/17

No tax on REITs, InViTs dividend

No tax on REITs, InViTs dividend

Finanne Minister also announced that there will be no tax on REITs, InViTs dividend 

9/17

No change in Income tax slab

No change in Income tax slab

In a major announcement, Finance Minister said there will be no change in Income tax slab

10/17

Import duty on gold and silver

Import duty on gold and silver

The government on Monday said that impot duty on gold and silver will be rationalised. 

11/17

New structure of custom duty

New structure of custom duty

FInance Minister Nirmala Sitharaman said that new structure of custom duty will be implemented from October 1 and GST will be made even more simple. 

12/17

No tax for startups for another year

No tax for startups for another year

Wity the aim to promoto startups, Sitharaman said startups will not have to pay tax for another year.  

13/17

Budget 2021: Affordable housing

Budget 2021: Affordable housing

Union Finance Minister Nirmala Sitharaman on Monday extended tax rebate for 1 more year on affordable housing.

14/17

Budget 2021:Old Income Tax matters

Budget 2021:Old Income Tax matters

With the aim to promote tax culture and avoid unnecessary harassament of commom man, Sitharaman said matter related to income tax older than three years will not be opened going forward.  

15/17

No tax for those above 75 years

No tax for those above 75 years

Senior citizens above 75 years will be exempted from paying income tax, said Nirmala Sitharaman

16/17

Budget 2021: 100 new Sainik school coming

Budget 2021: 100 new Sainik school coming

Focussing on senior and Upper senior secondary schools, Union Finance Minister Nirmala Sitharaman said the government will open 100 new Sinik schools across India.

17/17

No extra tax on cigarette in Budget 2021

No extra tax on cigarette in Budget 2021

Finanace Minister in Budget 2021 imposed no extra tax on cigarette, while she announced to increase import on LED lights parts from 5 to 10 per cent