Financial capital - Latest News Update, Information, Photos & Videos on Financial capital at Lokmat Times

Finance Minister Nirmala Sitharaman on Monday announced higher capital expenditure for the FY 2021-22 and focused on providing a major boost to healthcare and infrastructure building.In her Budget speech, Sitharaman mentioned that this year's budget focused on six pillars- Health and Wellbeing, Physical and Financial Capital, and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D and minimum government and maximum governance.Presenting the first-ever digital Union Budget, the minister stated that India's fight against COVID-19 continues into 2021 and that this moment in history, when the political, economic, and strategic relations in the post-COVID world are changing, is the dawn of a new era - one in which India is well-poised to truly be the land of promise and hope.Key highlights of Union Budget 2021-22:1. A new Centre-sponsored scheme Prime Minister Atmrbhar Swasthya Bharat Yojana with an outlay of Rs 64,180 crores to boost healthcare infrastructure across the country amid ongoing COVID-19 pandemic.2. Senior citizens above 75 years of age, having pension and interest income exempted from filing tax returns3. A National Faceless Income tax Appellate Tribunal Centre shall be established and all the communication between the Tribunal and the appellant shall be made electronically4. In order to provide transparent tax appellate mechsm, it is proposed to make the Income Tax Appellate Tribunal faceless and jurisdiction-less5. For reducing litigation and to give an impetus to the dispute resolution for small taxpayers, a Dispute Resolution Committee is proposed to be constituted.6. To incentivise digital transactions and to reduce the compliance burden of the person who is carrying almost all of their transactions digitally, it is proposed to increase the limit for tax audit for persons who are undertaking 95 per cent of their transactions digitally from Rs 5 crore to Rs 10 crore7. Rs 1,000 crore to be provided for welfare scheme for tea workers of Assam & West Bengal especially women and children8. National Infrastructure Pipeline (NIP) expanded to 7,400 projects9. Rs 2,23,846 crore outlay for Health and Wellbeing in Budget Estimates (BE) 2021-22 as against Rs 94,452 crore in BE 2020-21 - an increase of 137 per cent10. Rs 35,000 crore for COVID-19 vaccine in Budget Estimates 2021-2211. Rs 64,180 crore outlay over 6 years for PM Aatmrbhar Swasth Bharat Yojana - a new centrally sponsored scheme to be launched, in addition to NHM12. Rs. 2,87,000 crore over 5 years for Jal Jeevan Mission (Urban) to be launched13. Rs. 1,41,678 crore over 5 years for Urban Swachh Bharat Mission 2.014. Rs. 2,217 crore to tackle air pollution, for 42 urban centers with a million-plus population15. Voluntary vehicle scrapping policy to phase out old and unfit vehicles (After 20 years in case of personal vehicles and 15 years in case of commercial vehicles)16. Rs 1.97 lakh crore in the next 5 years for Production Linked Incentive scheme (PLI) schemes in 13 Sector17. Rs 20,000 crore to set up and capitalise a Development Financial Institution (DFI) - to act as a provider, enabler and catalyst for infrastructure financing18. Rs 5.54 lakh crore capital expenditure in BE 2021-22 - a sharp increase of 34.5 per cent over Rs. 4.12 lakh crore allocated in BE 2020-2119. Rs 1,18,101 lakh crore, highest ever outlay, for Ministry of Road Transport and Highways - of which Rs 1,08,230 crore is for capital20. Rs 1,10,055 crore for Railways of which Rs. 1,07,100 crore is for capital expenditure21. Rs 3,05,984 crore over 5 years for a revamped, reforms-based and result-linked new power distribution sector scheme22. Capital infusion of Rs 1,000 crore to Solar Energy Corporation of India and Rs 1,500 crore to Indian Renewable Energy Development Agency23. FDI limit in Insurance Sector increased from 49 per cent to 74 per cent24. Rural Infrastructure Development Fund to be enhanced to Rs 40,000 crore from Rs 30,000 crore25. Rs 15,700 crore budget allocation to MSME Sector, more than double of this year's BE24. An agriculture Infrastructure and Development Cess of Rs 2.5 per litre has been imposed on petrol and Rs 4 per litre on diesel. Unbranded petrol and diesel will attract basic excise duty of Rs 1.4 and Rs 1.8 per litre respectively25. 100 per cent Agriculture Infrastructure and Development Cess on Alcoholic beverages( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

Financial Capital, NewsFOLLOW

Financial capital, Latest News

Business :Finvasia Group opens a new office in India's Financial Capital, Mumbai

Finvasia Group today announced the opening of its new office in India's Financial Capital, Mumbai. Finvasia currently has its Head Office in Sector 74, Mohali, Punjab. The new Corporate office has been inaugurated and is already operational at One BK ...

Maharashtra :Mumbai airport opens renovated terminal for business jets from Nov 1

The Adani group-run Mumbai International Airport announced the opening of its renovated general aviation terminal exclusively for business jets ... ...

Maharashtra :Union Minister Nitin Gadkari says cannot make cycle tracks in Mumbai due to space constraints

The Union Minister Nitin Gadkari has said it is difficult to make cycle tracks in the financial capital due ... ...

Business :Nashik is getting ready to host its own Fashion Week

In 2022, the Creative Industry is estimated at USD 6-Trillion worldwide; employs over 150-Million people and is growing @18 per cent per annum. ...

National :Efforts made in Budget will play important role in creating jobs: Nadda

Appreciating the 'first digital budget' of India, Bharatiya Janata Party (BJP) national president JP Nadda on Monday congratulated Finance Minister Nirmala Sitharaman and her team and said the efforts made in the budget will play an important role in ...

National :Key highlights of Union Budget 2021-22

Finance Minister Nirmala Sitharaman on Monday announced higher capital expenditure for the FY 2021-22 and focused on providing a major boost to healthcare and infrastructure building. ...