Union Budget 2021: A look at some important quotes
As the Union Budget 2021 was presented, several agencies shared their views about the same.
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UPDATED: February 1, 2021 21:32 IST
Union Budget 2021 was presented by Finance Minister Nirmala Sitaraman on Monday, February 01, 2020, to begin from April 1. Here s a look at the quotes by various agencies.
The Association of Indian Schools shared their point of view over the Union Budget 2021.
The Budget 2021 initiated a significant step with the announcement of 15,000 schools to be strengthened as per the National Education Policy (NEP) 2020. This holds greater relevance considering the overall impact Covid-19 has caused on the education sector.
Budget proposes to hike FDI in insurance to 74%
February 01, 2021
Insurers welcome the move as insurance is a capital-intensive business
Finance Minister Nirmala Sitharaman has proposed to enhance the foreign direct investment (FDI) limit in insurance to 74 per cent along with relevant safeguards.
As part of the Union Budget 2021-22, she has proposed to amend the Insurance Act to increase the permissible FDI limit to 74 per cent in insurance companies and allow foreign ownership and control with safeguards.
At present, FDI up to 49 per cent is permitted in insurance companies.
“Under the new structure, the majority of directors on the board and key management persons would be resident Indians with at least 50 per cent of the directors being independent directors and a specified percentage of profits being retained as general reserve,” Sitharaman said.
Union Budget 2021 | Affordable, rental housing push likely to boost residential demand during COVID-19 pandemic
Infrastructure initiatives include MetroLite and MetroNeo to be launched for Tier-2 cities and peripheral areas of Tier-1 cities
Affordable and rental housing got a major push in Budget 2021 with the government extending the period for extra deduction of Rs 1.5 lakh available for loans up to March 31, 2022, a move expected to boost housing demand amid the ongoing COVID-19 pandemic.
Amid the prolonged pandemic scenario, this extension was needed to support the latent housing demand in the country, experts said.
Infrastructure projects, especially Metro, also received a shot in the arm. This, said real estate experts, will act as a strong catalyst in driving real estate in urban areas.
FDI in Insurance hiked to 74%, LIC IPO in 2022
The hike will offer foreign promoter an opportunity to buy out their cash-strapped Indian partners if necessary
FDI in Insurance hiked to 74%, LIC IPO in 2022
India s Finance Minister Nirmala Sitharaman on Monday, in her Union Budget speech, announced a proposal to increase the foreign direct investment (FDI) limit in the insurance sector to 74 per cent.
Sitharaman said the Insurance Act 1938 will be amended to increase permissible FDI limit from 49 per cent to 74 per cent in insurance companies and allow foreign ownership and control with safeguards . Under the new structure, the majority of directors on the board and key management persons would be resident Indians with at least 50 per cent of directors being independent directors and specified percentage of profits being retained as general reserves, she said.
PTI photo Outlook Web Bureau 2021-02-01T16:05:44+05:30 Union Budget 2021: Govt Proposes Rs 1,500-Crore Scheme To Boost Digital Payments outlookindia.com 2021-02-01T16:15:24+05:30
The government on Monday proposed Rs 1,500 crore-scheme to boost digital transactions in the country. This move will drive adoption of e-payments in smaller cities and spur innovation by fintech firms.
Finance Minister Nirmala Sitharaman in her Budget speech said there has been a manifold increase in digital payments in the recent past. To give a further boost to digital transactions, I earmark Rs 1,500 crore for a proposed scheme that will provide financial incentive to promote digital mode of payment, she said.