Updated: February 1, 2021 3:32:27 pm
Finance Minister Nirmala Sitharaman has presented the Union Budget 2021-22 in Parliament. In significant changes to the taxation process, Sitharaman announced the scrapping of income tax for senior citizens under certain conditions, new rules for removal of double taxation for NRIs, and a reduction in the time period of tax assessments among other measures.
During her speech, Sitharaman also announced a total spend of around Rs 2 lakh crore on healthcare, Rs 35,000 crore for the Covid-19 vaccine, Rs 1.10 lakh crore outlay for railways and said the government aims to complete 11,000 km of national highway infrastructure this year. The budget for 2021-22, meanwhile, imposed a Rs 2.5 per litre agri infra cess on petrol and Rs 4 on diesel.
Here is the full text of Finance Minister Nirmala Sitharaman’s Union Budget 2021 speech
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