Hon’ble Speaker,
I present the Budget for the year 2021-2022.
1. Honourable Speaker, the preparation of this Budget was undertaken in circumstances like never before. We knew of calamities that have affected a country or a region within a country, but what we have endured with COVID-19 through 2020 is sui generis.
2. When I presented the Budget 2020-21, we could not have imagined that the global economy, already in throes of a slowdown, would be pushed into an unprecedented contraction.
3. We could not have also imagined then that our people as those in other countries would have to endure the loss of near and dear ones and suffer hardships brought about due to a health crisis.
To bring the nylon chain on par with polyester and other man-made fibres, basic customs duty (BCD) rates on caprolactam, nylon chips and nylon fibre & yarn will be uniformly.
Union Budget 2021: Nirmala Sitharaman aims to raise resources without raising taxes; a bold step From a consumer and healthcare perspective, Union Budget 2021 has a lot of positives. On the healthcare side, COVID-19 pandemic had brought to light India s underspend in healthcare. Budget 2021 has done well by allocating over Rs 2 trillion holistically towards the health sector, a handsome increase of 137 percent. Bhavesh A Shah February 01, 2021 16:51:36 IST Nirmala Sitharaman and the government has come up with an immaculate Budget to cater to the needs of the economy
Union Budget 2021 has endeavoured to get India back on track as the world’s fastest-growing major economy by boosting spending on job-creation and rural development while fighting a pandemic.
Highlights
The government looks to spend Rs 1.97 lakh crore on various PLI schemes over the next 5 years, says FM Sitharaman.
A scheme of Mega Investments Textile Park will be launched in addition to the PLI Scheme which will create world-class infrastructure with plug and play facilities to enable global champions in exports, said Union Finance Minister Nirmala Sitharaman.
In November, the government announced a mega PLI scheme for 10 sectors, including advanced chemistry cell battery, electronic products, automobiles and auto components, pharma, telecom and networking products, textile, food products, white goods and speciality steel.
Finance minister Nirmala Sitharaman, while presenting the union budget on February 1, announced in her speech that the government looks to spend Rs 1.97 lakh crore on various Production Linked Incentive (PLI) schemes over the next 5 years which will be an addition to the Rs 40,951 crore announced for the PLI for electronic manufacturing scheme
Union budget 2021 India Inc expectations: Industry representatives are hopeful that the Union Budget 2021 would play a vital role in achieving the objective of putting India on a sustained high-growth trajectory