More Insights on Part A of Budget 2021!

Finance Minister Nirmala Sitharaman has presented the Union Budget for 2021. Find out what’s there for us in the Textile, Railways, Transport, Education, and Agriculture sectors.

1.Finance Minister announces the establishment of 7 textile parks in the next three years.

2. New Development Financial Institution to be set up, Rs 20,000cr to be alloted.

3. Railways to monetize dedicated fright corridor assets for operations and maintenance after commissioning.

4. Rs 25,000 has been allocated to improve highways in West Bengal. Rs 65,000 crore for road, highway projects in Kerala, Rs 3,400 crore for Assam.

5. Budget to provide Rs 1.1 lakh crore to Indian Railways of which Rs 1.07 lakh crore is for capital expenditure.

6. Capital Investment of 5.54 lakh crore is proposed. Government to provide Rs 2 lakh crore to states and autonomous bodies to meet capital expenditure.

7. Pradhan Mantri Ujjwala scheme extended to one crore more beneficiaries. 100 more cities to get gas pipelines.

8. Finance Minister announces seven port projects worth more than Rs 2,000 cr via PPA mode. Five Major fishing harbors Kochi, Chennai, Vishakhapatnam, Paradip, Petaughat will be developed for economic activities.

9. Rs 20,000 crore for the development of financial institutions. Insurance Act to be amended to increase FDI limit to 74 percent from 49 percent.

10.Target of Rs 16.5 lakh crore as agricultural credit. Fund to improve rural infra hiked from Rs 30,000 crore to Rs 40,000 crore. 1,000 more mandis to be integrated to eNAM. Agriculture infrastructure funds would be made available to APMCs to augment infrastructure facilities.

11. The Upcoming census could be the first digital census. Rs 3,768 crore allocated for census.

12. The Finance Minister earmarks Rs 1,500 crore for promoting digital mode of payment.

13. 15,000 Schools to be strengthened under National Education Policy(NEP). 100 Sainik schools to be set up across India.

14. The government would infuse Rs 20,000 crore into public sector banks (PSBs) in 2021-22, to meet the regulatory norms.

15. Fiscal Deficit estimated at 9.5% for FY 2021.

16. Rs.1.18 lakh crore revenue deficit grant to 17 states.