Key Points In Union Budget Of India 2021-2022

                          Union Budget 2021-2022 Highlight

                                                Presented By- Nirmala Sitaram (Finance Minister)

Today on 1 February 2021 Our Honorable Finance Minister Nirmala Sitaram ji Present the Budget of 2021-2022 of India. She Started by saying that Budget of 2021-2022 has increased Capital Expenditure by 34.5% which makes to Rs.5.54 Lakh Crore.

On Which Item the Duty Or Tax Has Increased they will Became Costly and on which item the tax has deceased they will became little inexpensive.

1. The Union Budget for Health and Family Welfare is around 2,23,846 crore in 2021-2022.From which 35,000 is for Corona Vaccine only. This year Government has Increased the budget of heath and family Welfare  by 137%.

2. In the Budget Government has left direct tax Unchanged . No change in Income tax Slab.

3. In the budget government state that their is no need of Tax filling for those who is 75 year old or above on Interest Income.

4. The Financial Minister announce the plan for privatization of 2 PSU banks. IPO (Initial Public Offering) and LIC ( Life Insurance of India).

5. Finial Minister estimates the Fiscal Deficit for the year 2021-2022 at 6.8% of GDP (When government spend more than its earning its is called Fiscal Deficit).

6. In Union budget Rs. 93,224.31 crore is for Education. Rs. 54,873 crore for School and Rs. 38,350 crore for Higher education.

7. Price of items like Mobile phones, LED light, AC, Refrigerator will Increase because of hike in custom duty.

8. Price of Gold and Silver will Decrease . But it not Stated that hoe much will it Decrease They have decreased the tax to 2.5%.Now the cess on gold and Silver will be 2.5%. 

9. According to the Union budget of 2021-2022 now the person have to pay tax (normal tax) on Provident Fund if PF is above 2,50,000 Rs .The Interest has not mentioned by FM in Budget

10. In  union Budget Rs. 1,10 lakh crore is for Railways.

11. Rs. 64,180 crore is to launch PM Aatmanirbhar Swastha Bharat.

12. Rs 1.4 Lakh crore is for implementing Urban Swachh Bharat scheme.

13. Rs. 1lakh is for project under National infrastructure Pipeline.

14. 95000 Crore is for Construct Roads in west Bengal.

15. 2217 crore is for urban centers to control Air Pollution.

16. 18000 is for Increasing Public Transport in Urban Areas.

17. 1500 Crore is to promote Digital mode of Payment.

18. 2.87 lakh crore is Jal Jeevan Mission.

19. Center also Confirmed Funding of 63,246 crore for Chennai Metro's Phase II.

20. Rs 1.03 lakh crore is to build and complete 11000 km of National highway under National Highway Project.

21. Agriculture Infrastructure and development cess has been imposed on petrol at Rs. 2.5 and Rs.4 on diesel per Liter will became Costly.

22.Agriculture Product like Cotton, Silk,  Alcohol custom Duty has increased will became Costly.

23. Duty has Decreased on Copper scrap from 5% to 2.5 %.

24.Increased duty on Solar inverter 5% to 20%.