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1 February 2021, 15:28 PM
FM Nirmala Sitharaman's Post-Budget Press Conference
This Budget comes at a time when all of us decided to give impetus to the economy & that impetus, we thought, would be qualitatively spent & give necessary demand push if we choose to spend big on infrastructure, says FM Sitharaman.
If there are two important features of this Budget, it is that we chose to spend big on infrastructure which spans across roads, power generation, bridges, ports & so on: FM
As a second feature, I tend to the need of the healthcare sector and even there, capacities for better health management had to be brought in in light of what we had gone through last year: FM
1 February 2021, 15:28 PM
We have taken the approach of widening new opportunities for growth, new openings for our youth, a new high to human resources, develop new regions for infrastructure, walking towards technology & bring new reforms with this Budget: PM
1 February 2021, 15:26 PM
Many thought we will put the tax burden on the common man. However, we focused on a transparent Budget: PM Narendra Modi
1 February 2021, 13:29 PM
Consequently, unbranded petrol and diesel will attract basic excise duty of Rs 1.4, and Rs 1.8 per litre respectively. The SAED on unbranded petrol and diesel shall be Rs 11 and Rs 8 per litre respectively. Similar changes have also been made for branded petrol and diesel
1 February 2021, 13:29 PM
Consequent to imposition of Agriculture Infrastructure and Development Cess (AIDC) on petrol and diesel, Basic excise duty (BED) and Special Additional Excise Duty (SAED) rates have been reduced on them so that overall consumer does not bear any additional burden
1 February 2021, 13:28 PM
Gold and silver presently attract a basic customs duty of 12.5%. Since the duty was raised from 10% in July 2019, prices of precious metals have risen sharply. To bring it closer to previous levels, we are rationalizing custom duty on gold and silver, says FM
1 February 2021, 13:28 PM
Domestic electronic manufacturing has grown rapidly. For greater domestic value addition we're withdrawing a few exemptions on part of chargers & sub-parts of mobiles. Further some parts of mobiles will move from nil rate to a moderate 2.5%
1 February 2021, 13:28 PM
Reducing Customs duty uniformly to 7.5% on semis, flux & long products of non-alloy, alloy & stainless steel. To provide relief to metal recyclers, mostly MSMEs, I'm exempting duty on steel scrap up to 31st March 2022. I am also revoking ADD & CBD on certain steel products, says FM
1 February 2021, 13:23 PM
In order to incentivize startups in the country, I propose to extend the eligibility for claiming tax holidays for startups by one more year, till 31st March 2022
1 February 2021, 13:22 PM
FM Sitharaman proposes farm cess of Rs 2.5/litre on petrol, Rs 4/litre on diesel
1 February 2021, 13:11 PM
To further reduce litigation for small taxpayers I propose to constitute a dispute resolution committee which will be faceless to ensure efficiency, transparency. Anyone with a taxable income up to Rs 50 Lakhs & disputed income up to Rs 10 Lakhs eligible to approach committee
1 February 2021, 13:10 PM
Seven port projects worth more than Rs 2,000 crore to be offered by major ports in PPP Mode, in FY 2021-2022. To move to a model where private partner will manage operations of ports
1 February 2021, 13:10 PM
Scheme for promoting flagging of merchant ships in India to be launched, by providing subsidy support to Indian shipping companies in global tenders floated by Ministries and CPSEs. Rs 1,624 crore over 5 years for this
1 February 2021, 13:09 PM
Major disappointment for individual taxpayers! No change in tax slab
1 February 2021, 12:46 PM
FM proposes to review more than 400 old exemptions in customs this year. To put into place new customs duty structure by Oct-1, 2021
1 February 2021, 12:44 PM
FM announces withdrawal of exemptions on some parts of mobile phones
1 February 2021, 12:44 PM
Tax exemption to notified rental housing projects
1 February 2021, 12:44 PM
Notified infra debt funds to be eligible to raise tax efficient zero coupon bonds
1 February 2021, 12:44 PM
Details of capital gains, divident income, interest income to be pre-filled in tax forms
1 February 2021, 12:43 PM
Late deposit of employee’s contribution will not be allowed as deduction for employer
1 February 2021, 12:43 PM
FM Sitharaman extends cap gains tax exemption for investment into start-ups by another year
1 February 2021, 12:43 PM
Delayed contribution of EPF by employer for employee will not be allowed as a deduction
1 February 2021, 12:38 PM
Tax holiday for Aircraft leasing business in Gift city. Tax holiday on gains for aircraft lease
1 February 2021, 12:38 PM
Rs 3,000 crore to be set aside for skilling initiatives for the youth. National Research Foundation to be allocated Rs 50,000 crore over 5 years. 100 new Sainik schools to be established
1 February 2021, 12:37 PM
Government to set-up a faceless dispute resolution mechanism for small taxpayers. FM proposes to reduce time allowed to re-open tax investigation to 3 years as against 6 years now
1 February 2021, 12:36 PM
FM proposes to increase threshold for tax audit to Rs 10 crore as against Rs 5 crore for those transacting 95% digitally
1 February 2021, 12:36 PM
FPI to get deduction of tax on dividend at lower treaty rate
1 February 2021, 12:31 PM
Major relief for Senior citizens above 75 years with only pension and interest income exempted from filing returns
1 February 2021, 12:30 PM
Social security benefits will be extended to gig and platform workers. Minimum wages will apply to all categories of workers. Women will be allowed to work in all categories and also in night shifts with adequate protection
1 February 2021, 12:29 PM
To further extend efforts towards unorganised labour force, I propose to launch a portal to collect relevant information on gig workers, building/construction workers among others. It'll help formulate health, housing, skill, insurance credit &food schemes for migrant workers
1 February 2021, 12:28 PM
Rs 1,500 cr for a new scheme to give financial incentives to promote digital payments
1 February 2021, 12:27 PM
Our Govt is committed to the welfare of farmers. The MSP regime has undergone a change to assure price that is at least 1.5 times the cost of production across all commodities
1 February 2021, 12:27 PM
Ujjwala scheme will be expanded to over 1 crore more beneficiaries. We will add 100 more districts in the next three years to the city gas distribution network. A gas pipeline project will be taken up in Jammu and Kashmir
1 February 2021, 12:25 PM
Will approach market for additional Rs 80,000 crore to fund FY21 fiscal deficit. Gross market borrowing target at Rs 12 lakh crore for FY22. Fiscal deficit in 2020-21 pegged at 9.5% of GDP
1 February 2021, 12:24 PM
Major announcements for Indian Railways in Union Budget 2021
High density rail networks and highly utilized rail routes to be provided with indigenously developed automatic train protection system which will eliminate train collision due to human error.
100% electrification of rail broad gauge routes to be completed by December 2023.
Record sum of Rs 1,10,055 crore to be provided for Indian Railways, out of which Rs 1,07,100 is for capital expenditure only
#mute
1 February 2021, 12:16 PM
FM proposees to take concrete steps to increase funding for National Infrastructure Pipeline
1. By creating institutional structures
2. By monetising assets
3. By enhancing share of capital expenditure in Central and State Budgets
1 February 2021, 12:10 PM
40,000 crore for programmes, projects and departments which show good progress in capital expenditure and which may be in need of further funds. More than Rs 2 lakh crore for states and autonomous bodies for capex
1 February 2021, 12:10 PM
Sharp increase of 34.5% in capital expenditure as compared to previous budget estimates - resulting in allocation of Rs 5.54 lakh crore. Echoing the govt.'s effort to spend more on capital expenditure, despite resource crunch
1 February 2021, 12:05 PM
Five operational roads being transferred to NHAI. Rs 7,000 crore assets to be transferred to PGCIL. Railways to monetize dedicated freight corridor assets for O&M, after commissioning. Next lot of airports to be monetized for ops and management concessions
1 February 2021, 12:02 PM
Rally in Dalal Street as government hikes FY22 capex spend. Sensex soars over 900 points, Nifty hovering around 14,000 level
1 February 2021, 12:01 PM
National Monetization Pipeline of potential brownfield infrastructure assets to be launched, for monetizing operating public infra assets. Asset Monetization Dashboard to track progress and provide visibility to investors
1 February 2021, 12:01 PM
Professionally managed Development Financial Institution to be set up, to provide, enable & catalyze infra financing Rs 20,000 crore to capitalize this institution, Aim is to have lending portfolio of at least ₹ 5 lakh crore in 3 years, says FM
1 February 2021, 11:58 AM
To give further thrust to National Infrastructure Pipeline, three concrete actions to be taken in the following areas
Creating institutional structures
Monetizing assets
Increasing share of capital expenditure in central and state budgets
1 February 2021, 11:56 AM
FM provides a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for Capital Expenditure only: Finance Minister Nirmala Sitharaman
1 February 2021, 11:54 AM
Scheme of Mega Investment Textile Parks to be launched, in addition to PLI scheme, to create world class infra in textile sector, with plug-and-play facilities, to create global export champions. 7 textile parks to be set up over 3 years, FM
1 February 2021, 11:53 AM
Over 13,000 km length of roads at a cost of Rs 3.3 lakh cr has already been awarded under Rs 5.35 lakh cr Bharatmala project of which 3,800 kms have been constructed. By March 2022 we'd be awarding another 8,500 & complete an additional 11,000 kms of National Highway Corridor: FM
1 February 2021, 11:52 AM
Indian Railways has prepared a National Rail Plan for India 2030. The plan is to create a future-ready railways system by 2030 - bringing down logistic cost for industry is at the core of a strategy to enable Make in India.
1 February 2021, 11:51 AM
Rs 1.97 lakh crore over 5 years starting this FY, for Production Linked Incentive Schemes to create manufacturing global champions for an AatmaNirbhar Bharat, FM
1 February 2021, 11:47 AM
SEBI will be notified as regulator for a gold exchange
1 February 2021, 11:44 AM
FDI limit in insurance increased to 74% from 49%, announces FM
