The Union Budget for this year was announced by FM Nirmala Sitharaman today, and its main focus appears to be on health and restarting the economy. She said the focus of this budget is on 6 pillars – Health, Well-being, Inclusive Development, Human Capital, Innovation and R&D. Here are some of the main takeaways from the budget.
1. Rs 64,180 crore over 6 years to develop capacities of health care systems, develop institutions for detection and cure of new and emerging diseases.
2. Rs 35,000 crore will be given for Covid-19 vaccines in 2021-22.
3. Rs 1.1 lakh crore for Indian Railways.
4. Rs 2217 crore for 42 urban centres with a million-plus population, to tackle the problem of air pollution.
5. Agriculture infrastructure fund increased to Rs 40,000 crore.
6. Fiscal deficit will be 9.5% of GDP during current fiscal year. It is pegged at 6.8% in the next financial year.
7. Senior citizens over the age of 75 who only have pension and interest income will be exempt from filing IT returns.
8. Rs 65,000 crore for road and highway projects in Kerala, Rs 25,000 crore for West Bengal, and Rs 3400 for Assam.
9. Rs 20,000 crore for pubic sector banks.
10. Rs 2.87 lakh crore over 5 years towards Jal Jeevan Mission Urban, which is to be launched.
11. Rs 5.54 lakh crores towards capital expenditure, which is 34.5% more than the budget estimate of 2020-21.
The new budget has a clear focus on health and infrastructure, with an effort to boost the economy after the slump of 2020.