Journalism of Courage
Union Budget 2021: Covid-19 vaccine push, FDI in insurance, tax relief for seniors
1 / 10In her third Union Budget, Finance Minister Nirmala Sitharaman gave an extra push to health and infrastructure, while underlining the government intent to facilitate a reset of the Covid-battered economy. (Express photo: Praveen Khanna)
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2 / 10In 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. (Express photo: Praveen Khanna)
3 / 10Keeping with the tradition of reciting couplets during the budget session, this time too, Finance Minister Nirmala Sitharaman included verses of legendary poets in her Budget speech 2021.
4 / 10Sitharaman announced a total spend of around Rs 2 lakh crore on healthcare with Rs 35,000 crore on Covid-19 vaccine development and innoculation. (Express photo: Partha Paul)
5 / 10In her speech, Sitharaman announced that India’s fiscal deficit is set to jump to 9.5 per cent of Gross Domestic Product in 2020-21 as per Revised Estimates. This is sharply higher than 3.5 per cent of GDP that was projected in the Budget Estimates. (Express photo: Partha Paul)
6 / 10The Agriculture and Farmers' Welfare Ministry has got 5.63 per cent more budget allocation at Rs 1,31,531 crore for 2021-22, and half of it would be spent on the flagship PM-KISAN scheme. Funds have also been made available for agri-infra and irrigation programmes.
7 / 10The government has proposed a budget outlay of Rs 2,23,846 crore for health and wellbeing in 2021-2022, an increase of 137 per cent from the previous year, with Rs 35,000 crore earmarked for COVID-19 vaccine in the upcoming fiscal.
8 / 10While presenting the Union Budget 2021-22, Finance Minister Nirmala Sitharaman said, "I propose to amend the Insurance Act, 1938 to increase the permissible FDI limit from 49 per cent to 74 per cent in insurance companies and allow foreign ownership and control with safeguards."
9 / 10Sitharaman announced a record sum of Rs 1.10 lakh crore for the Railways, out of which Rs 1.07 lakh crore is for capital expenditure, and said the national transporter would monetise dedicated freight corridors after commissioning.
10 / 10Addressing the post-budget press conference, Sitharaman said the government decided to give greater impetus to the economy. “And that impetus, we thought, would be qualitatively spent and give necessary demand push if we choose to spend big on infrastructure,” she said. (Express photo: Praveen Khanna)
