{"id":231,"date":"2021-02-06T07:00:03","date_gmt":"2021-02-06T07:00:03","guid":{"rendered":"https:\/\/pkchopra.com\/blog\/?p=231"},"modified":"2024-03-12T10:16:07","modified_gmt":"2024-03-12T10:16:07","slug":"highlights-of-union-budget-2021","status":"publish","type":"post","link":"https:\/\/pkchopra.com\/blog\/index.php\/highlights-of-union-budget-2021\/","title":{"rendered":"Highlights of Union Budget 2021"},"content":{"rendered":"<p>The Union Budget 2021-22 was presented by the Hon\u2019ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. This year\u2019s Budget lays focus on the seven pillars for reviving the economy \u2013 Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&amp;D, and Minimum Government Maximum Governance. Several regulations around the securities market are proposed to be merged as a single code. Several direct taxes and indirect taxes amendments were also proposed. Highlights are as below:<\/p>\n<p><strong>Health and Cleanliness<br \/>\n<\/strong><\/p>\n<ul>\n<li>Government to take a position Rs 69,000 crore within the health sector and over twelve thousand crores within the Swachh Bharat endeavour<\/li>\n<li>Hospitals with Private investment under PPP to be inbuilt Tier 2 and Tier 3 cities<\/li>\n<li>Expansion of Jan Aushadhi scheme<\/li>\n<\/ul>\n<p><strong>Taxes<\/strong><\/p>\n<ul>\n<li>Simplified tax structure with income slabs and taxes as following<\/li>\n<\/ul>\n<p>No tax for income up to Rs 5 lakh<\/p>\n<p>10% for Rs 5-7.5 Lakh<\/p>\n<p>15% for Rs 7.5-10 Lakh<\/p>\n<p>20% for Rs 10-12.5 Lakh<\/p>\n<p>25% for Rs 12.5-15 Lakh<\/p>\n<p>30% for income Rs 15 lakh and above<\/p>\n<ul>\n<li>Dividend distribution tax for companies are removed<\/li>\n<li>Reduction in corporate tax for companies, new charges are 22%<\/li>\n<li>To boost infrastructure, the govt has offered a cent percent tax concession to wealth funds with plans of investing in infrastructure<\/li>\n<li>\u2018Vivad se Vishwas\u2019 scheme which is aimed to resolve appeals raised by direct taxpayers. It gives taxpayer an entire waiver on any extra penalty or interest charges and allows him\/her to only pay the quantity of the disputed tax.<\/li>\n<\/ul>\n<p><strong>Affordable Housing<\/strong><\/p>\n<ul>\n<li>To make life easier, a further tax break of Rs 1,50,000 to be extended on interest paid on affordable housing loans by a year to Mar 2021<\/li>\n<li>Tax holiday offered to those developing affordable housing<\/li>\n<\/ul>\n<p><strong>Transportation<\/strong><\/p>\n<ul>\n<li>Rs 1,70,000 Cr investment in transport infrastructure to be suggested<\/li>\n<li>9,000 km of an economic corridor to be found out<\/li>\n<li>An expressway for routes from Chennai to Bangalore are going to be started which from Delhi to Mumbai are going to be completed<\/li>\n<li>Rs 18,600 Crore suggested for a suburban rail project in Bangalore<\/li>\n<li>High-speed train to be started between Mumbai and Ahmedabad<\/li>\n<li>100 new airports by 2025 and privatization of 1 major airport<\/li>\n<li>Complete electrification of 27,000 km of lines<\/li>\n<\/ul>\n<p><strong>Investments<\/strong><\/p>\n<ul>\n<li>Bank deposits now safer with insurance cover of Rs. 5 Lakh vs the sooner Rs 1 lakh<\/li>\n<li>Decriminalisation of civil offences within Companies Act<\/li>\n<li>FDI has increased within the last 5 years from $190 bn to $284 bn<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Union Budget 2021-22 was presented by the Hon\u2019ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. This year\u2019s Budget lays focus on the seven pillars for reviving the economy \u2013 Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&amp;D, and &hellip;<\/p>\n","protected":false},"author":1,"featured_media":232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":""},"categories":[12],"tags":[157,156,155,159,158],"_links":{"self":[{"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/231"}],"collection":[{"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/comments?post=231"}],"version-history":[{"count":1,"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/231\/revisions"}],"predecessor-version":[{"id":233,"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/posts\/231\/revisions\/233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/media\/232"}],"wp:attachment":[{"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/media?parent=231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/categories?post=231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pkchopra.com\/blog\/index.php\/wp-json\/wp\/v2\/tags?post=231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}