Budget 2021 Highlights: Chidambaram lashes out at govt; says migrants, farmers deceived
Union Budget 2021 Highlights: Congress leader P. Chidambaram said that the government had only marginally raised health funding, which when adjusted to inflation becomes nil
BusinessToday.In | February 1, 2021 | Updated 19:56 IST
Union Budget 2021: Although the government has claimed a massive increase of 137 per cent in health allocation in Budget 2021, Congress leader P. Chidambaram lashed out at the Centre saying the figure was just a conjurer s trick
Union Budget 2021
: Although the government has claimed a massive increase of 137 per cent in health allocation in Budget 2021, Congress leader P. Chidambaram lashed out at the Centre saying the figure was just a conjurer s trick. Chidambaram further said that the government had only marginally raised health funding, which when adjusted to inflation becomes nil.
BT Insight: Simplicity, liquidity key features of IRDA s Saral Pension Yojana
The Saral Pension policy can be surrendered any time after six months from the date of commencement, if the annuitant or the spouse or any of the children of the annuitant is diagnosed as suffering from any of the critical illnesses specified in the policy document
KEY HIGHLIGHTS
The scheme comes with one-time lump sum purchase and return of purchase price
Only two annuity options - single life annuity, joint life annuity
One may take loan against the policy after six-month of the purchase
Surrender option is available in case of a critical illness of a family member
Synopsis
Govt slashed basic corporate tax rate to 22% from 30% while for new manufacturing companies it has been cut down to 15% from 25%.
Managing Director & CEO, International Money Matters Pvt. Ltd, Contributor Content
Solution: Promote long term investing - have tax parity between mutual funds and insurance products. Benefits for investing in retirement products at an early stage to be introduced.
Budget season is a time for looking back at what we got, what we didn t and also for looking ahead with expectations. Here is a lowdown on what the common investor the debt/equity investor, the saver, the homebuyer has gotten so far from Modi.
Founder - Ladder7 Financial Advisories, Contributor Content
Solution: The govt can help needy seniors with clear targeting. An extra 1% pa in specific schemes can be given to those who are not covered by pensions and do not have taxable incomes.
2020 will go down as a turning point in human history. Many of us have faced health scares, income disruption, economic uncertainties, debt security default worries in this period. Also, during this period, interest rates have been coming down as the government wanted to hold down the rates and make it easier for businesses to borrow and stay afloat.
But there has been collateral damages due to this move. Those dependent on the interest from their investments have been affected as they find that they get much less for their investment now. They have understood the perils of reinvestment risk now! This is compounded by the fact that inflation has been higher than the tolerance limits set by the Reserve Bank of India (RBI), which is up to 6%
Synopsis
This comes as a relief for fixed income investors, especially senior citizens, as currently there are only three investment options with returns more than 7%: the RBI floating rate bonds, Senior Citizens Savings Scheme and the Pradhan Mantri Vaya Vandana Yojana.
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RBI launched the floating rate bonds in lieu of the earlier 7.75% taxable bonds which were withdrawn.
With the government maintaining status quo on interest rates of small savings schemes for the last quarter of the current fiscal, the Reserve Bank of India s (RBI) Floating Rate Savings Bonds, 2020 (Taxable) will continue to fetch the same interest rate, i.e., 7.15% till the next reset date of July 1, 2021.