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PART-A The Union Minister for Finance Corporate Affairs, Smt Nirmala Sitharaman presented the Union Budget 2021-22 in Parliament today, which is the first budget of this new decade and also a digital one in the backdrop of unprecedented COVID-19 crisis. Laying a vision for AatmaNirbhar Bharat, s
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FAQ :
The main vision behind the Union Budget 2021-22 is AatmaNirbhar Bharat, reflecting the confidence of 130 crore Indians in their capabilities and skills. The proposals aim to strengthen national priorities like farmer income, infrastructure, health, governance, youth opportunities, education, women empowerment, and inclusive development.
The six pillars of the Union Budget 2021-22 are: Health and Wellbeing, Physical and Financial Capital, Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, and Minimum Government and Maximum Governance.
The budget proposes a substantial increase in investment for Health and Wellbeing, with an outlay of Rs 2,23,846 crore. A new scheme, PM AatmaNirbhar Swasth Bharat Yojana, will be launched with an outlay of Rs 64,180 crore to strengthen primary, secondary, and tertiary healthcare systems. Rs 35,000 crore has been allocated for COVID-19 vaccines.
The budget proposes the establishment of a Development Financial Institution (DFI) with Rs 20,000 crore capitalisation to finance infrastructure. A National Monetization Pipeline will be launched to monetise operating public infrastructure assets. Significant outlays are also planned for roads, railways, and urban infrastructure, including metro networks.
The budget reaffirms commitment to farmers' welfare with increased MSP and procurement. The agricultural credit target has been enhanced to Rs 16.5 lakh crore. The scope of the 'Operation Green Scheme' will be expanded to 22 perishable products, and 1,000 more mandis will be integrated with e-NAM.
The permissible FDI limit in the insurance sector is proposed to be increased from 49% to 74%, allowing foreign ownership and control with safeguards. The majority of directors on the board and key management personnel would be resident Indians.
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