Union Budget 2021-22: National Research Foundation outlay to be Rs. 50,000 crore, over 5 years
Finance Minister Nirmala Sitharaman proposed an outlay of Rs. 50,000 crore for the National Research Foundation spread for the next five years. Finance Minister Nirmala Sitharamn said, "It will ensure that the overall research ecosystem of the country is strengthened with focus om identified national-priority thrust areas."
Feb 01, 2021, 16:56 PM IST
Union Budget 2021: FDI cap in insurance sector raised from 49% to 74%
Finance Minister Nirmala Sitharaman said the foreign direct investment limit will be hiked to 74 percent from 49 percent in the insurance sector in her Union Budget 2021 speech in Parliament today. She also proposed to amend the Insurance Act 1938 to increase the permissible FDI limit in insurance companies, allowing foreign ownership and control with safeguards.
Feb 01, 2021, 16:34 PM IST
Budget 2021: Agri cess in, levies on auto fuels altered, excise duty reduced
Union Finance Minister Nirmala Sitharaman on Monday (February 1) announced that the levies on petrol and diesel have been altered. The announcement was made in the Union Budget 2021-22 and the alterations will be applicable from April 1, 2021.
Feb 01, 2021, 16:27 PM IST
Union Budget 2021-22 Summary: Here's the complete overview of Budget
The Finance Minister said that for a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains, possess core competence and cutting-edge technology
Feb 01, 2021, 16:24 PM IST
Union Budget 2021: Government to launch Securities Markets Code, to develop an investor charter
In order to instil confidence amongst the participants in the Corporate Bond Market during times of stress and to generally enhance secondary market liquidity, Union Budget 2021-22 proposes to create a permanent institutional framework. The proposed body would purchase investment grade debt securities both in stressed and normal times and help in the development of the Bond Market.
Feb 01, 2021, 15:40 PM IST
Union Budget 2021: PLI schemes announced for 13 sectors
In October last year, the Ministry of Electronics and IT had approved the applications of Samsung, Foxconn Hon Hai, Pegatron, Rising Star and Wistron from among the international applicants for manufacturing of mobile phones in India under the PLI scheme.
Feb 01, 2021, 15:40 PM IST
Indian budget to provide financial support worth Rs 6251 crore to 10 countries in the region
The highest assistance goes to Bhutan on expected lines, with New Delhi announcing Rs 2884.65 cr to the country--2052.37 in form of grant and 832.28 cr in form of loan. Second highest amount goes to Indian ocean Island country of Mauritius at Rs 1025 cr. Nepal gets Rs 800 cr, and budget estimates of FY2021-2022 see an increase to Rs 992 cr.
Feb 01, 2021, 15:31 PM IST
Union Budget 2021: Social security net for gig and platform workers, says FM Nirmala Sitharaman
The finance minister also noted the labour reforms done by the government where the majority of labour laws were concised into four broad codes on wages, industrial relation, social security and occupational safety, health & working conditions. Sitharaman further informed that the one nation, one ration card plan is under implementation in 32 states, 1 union territory.
Feb 01, 2021, 15:16 PM IST
Union Budget 2021: FDI limit in insurance sector increased from 49% to 74%
The Finance Minister stated that an Asset Reconstruction Company Limited and Asset Management Company would be set up to consolidate and take over the existing stressed debt and then manage and dispose off the assets to Alternate Investment Funds and other potential investors for eventual value realization. The move will help the Public Sector Banks to manage their stressed assets.
Feb 01, 2021, 15:15 PM IST
From 'disappointing' to 'development-oriented,' here’s how political leaders reacted to Union Budget 2021
BJP on Monday hailed the Union budget and said that it will provide a major boost to India's infrastructure, agriculture and healthcare. Congress strongly criticised the Union Budget, saying FM's speech was oblivious to the declining GDP and the budget was a case of "wrong diagnosis and prescription".
Feb 01, 2021, 15:11 PM IST
Union Budget 2021: Voluntary vehicle scrapping policy announced to phase out old vehicles
The Union Budget 2021-22 proposals rest on six pillars: Health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India reinvigorating human capital innovation and R&D minimum government, maximum governance.
Feb 01, 2021, 14:12 PM IST
Sensex rallies nearly 1000 points as Finance Minister Nirmala Sitharaman presents budget
The BSE benchmark Sensex rallied nearly 1,000 points led by gains in financial stocks in the afternoon session on Monday (February 1) as Finance Minister Nirmala Sitharaman presented the Union Budget 2021-2022 in Parliament. On the currency front, the rupee was trading 6 paise lower at 73.02 against the US dollar.
Feb 01, 2021, 14:09 PM IST
Union Budget 2021: List of items that will be cheaper and dearer now
Union Finance Minister Nirmala Sitharaman on Monday unveiled the Union Budget for the fiscal year 2021-22 that aims to shore up an economy badly-hit by the novel coronavirus pandemic. Based on the announcement made by FM Nirmala Sitharaman, the following items will now become Costlier ( Electronics item, Mobile, Mobile Charger, Leather shoe, Kabuli chana) and Cheaper (Iron & Steel, nylon clothes, copper items, Insurance, Electricity, steel utensils & gems).
Feb 01, 2021, 14:07 PM IST
Union Budget 2021: Agri cess of Rs 2.5/litre on petrol, Rs 4/litre on diesel
The last few increases in pump prices in petrol and diesel has taken its price to record levels across the country in all major metro cities and other towns. The last time the retail price of auto fuels were closer to current levels was on October 4, 2018 when crude prices had shot up to $80 a barrel.
Feb 01, 2021, 13:43 PM IST
Union Budget 2021: FM Nirmala Sitharaman allocates Rs 1.15 lakh crore package for Indian Railways; check key announcements
In terms of priorities, Sitharaman announced the commissioning of Eastern and Western Dedicated Freight Corridors and basically the whole idea is to bring down the cost of logistics to promote Atma Nirbhar Bharat. Both the corridors will be commissioned by June 2022.
Feb 01, 2021, 13:09 PM IST
Union Budget 2021: Major disappointment for individual taxpayers! No change in tax slab
In FMs's other major announcements under taxation, Sitharaman said that the government proposes to make income tax appellate tribunals faceless. It will set up national income tax appellate tribunal centre. The government has also cut timeline for reopening of tax cases to 3 years from 6 years.
Feb 01, 2021, 13:02 PM IST
Union Budget 2021: Senior citizens above 75 years get this major exemption
Among several key announcements made by Union Finance Minister Nirmala Sitharaman in the Union Budget 2021-22, the senior citizens above 75 years with only pension income have been exempted from filing Income Tax returns. Reading out the Union budget 2021-22 through a 'Made in India' tab, Finance Minister Nirmala Sitharaman extended tax benefits to senior citizens, above the age of 75.
Feb 01, 2021, 12:54 PM IST
Union Budget 2021: Sensex rises nearly 900 points, NSE Nifty at 13,900 levels
The stock market is continuously cheering the big infrastructure projects, disinvestment and other investment-related initiatives announced by Union Finance Minister Nirmala Sitharaman in her Union Budget 2021 speech on Monday. The BSE Sensex shot up around 902 and hit 47,188 levels while the NSE Nifty hit 13,866 logging 251 points intraday gain. Sensex surged nearly 443 pts to 46,728.83 in opening trade ahead of Union Budget presentation, while the Nifty traded at 114.85 points at 13,749.45.
Feb 01, 2021, 12:27 PM IST
Union Budget 2021: FM Nirmala Sitharaman emphasizes on six pillars of economy in her speech
Sitharaman, who had in her first budget in 2019 replaced leather briefcase that had been for decades used for carrying budget documents with a traditional red cloth 'bahi-khata', had earlier this month stated that the budget for the fiscal year beginning April will be "like never before".
Feb 01, 2021, 12:08 PM IST
Union Budget 2021: Rs 2.87 lakh cr outlay for ‘Jal Jeevan Mission,’ announces FM Nirmala Sitharaman
The Narendra Modi government on Monday announced the ‘Jal Jeevan Mission’ with an outlay of Rs 2.87 lakh crore for 4,378 urban local bodies. Presenting the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman further said that the ‘Swachh Bharat 2.0’ will be implemented with an outlay of Rs 1,41,678 crore over a period of five years. In order to boost manufacturing in India, the Finance Minister also announced a production linked incentive (PLI) scheme with an outlay of Rs 1.97 lakh crore for 5 years starting this fiscal.
Feb 01, 2021, 12:07 PM IST
