This budget is towards Aatmanirbhar Bharat and to address all difficulties the section of the society. Of course, it’s a growth-oriented Budget and lots of positive interventions. We all know that it an unprecedented global crisis, this budget is focused on resetting the Indian Economy and enabling it to emerge from shadows of a long and unexpected shadows.
USD 5 trillion Economy: The government is sticking to the target of becoming a USD 5 trillion economy by 2024-25 and emphasis on infrastructure sector and other initiatives taken in Budget 2021-22 are aimed at achieving the goal.
Aatmanirbhar Bharat: The government strongly recognises the role of MSMEs in realising the ‘Aatmanirbhar Bharat’ ambition. Doubling the allocation for MSMEs from last year to ₹15,700 crore. FM also made the compliance ecosystem easier by increasing the audit threshold from ₹5 crore to ₹10 crore.
Nirmala Sitharaman detailing various programmes and initiatives for the sector.
From drawing up the legislation for a
Higher Education Commission of India to setting up a Central University in Leh to strengthening 15,000 schools and creating
sainik schools as part of the National Education Policy (NEP 2020) implementation plan to the government s proposed
amendments to the Apprenticeship Act and the Rs 3,000-crore corpus allocated for it most education-related announcements in the Budget have been dubbed welcome moves by startups.
However, many believe that Budget 2021 missed the opportunity to make big-ticket announcements (GST cuts, etc.), adequate fund allocation in education so as to fast-track the rollout of NEP, and other incentives critical to boost a pandemic-hit economy.
Govt Increases Allocation Towards Education By Around INR 8,000 Cr In FY22 The government has earmarked INR 93,224 crore for education-compared with revised figure of INR 85,089 for FY21-which includes INR 38,350.65 crore for higher education and INR 54,873 crore for school education
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Finance minister Nirmala Sitharaman on Monday announced the Union Budget 2021, the most anticipated budget that the country which is still reeling under the havoc caused by the ongoing pandemic. The budget which was anticipated to focus more on the overworked healthcare sector, saw a 137 per cent increase in allocation than the last year.
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February 2, 2021
The last year had been a rude shock to everyone in the country, particularly for those who run small businesses and startups or work in the unorganised sector. As part of the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman announced several measures to improve the business and operating environment for small companies and startups.
Sitharaman also announced that the government would bring gig economy workers under the proposed labour code. “For first time globally, social security benefits will be extended to gig and platform workers. Minimum wages will apply to categories of workers. And they will all be covered by state insurance corporations,” she said