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Union Budget 2021: Govt Removes Mobile Manufacturing Exemptions, 'Some Parts' to Face 2.5% Duty

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Union Budget 2021: Govt Removes Mobile Manufacturing Exemptions, 'Some Parts' to Face 2.5% Duty
Finance Minister Nirmala Sitharaman has said that the move is being undertaken for greater domestic value addition, as the mobile manufacturing industry of India continues to grow.
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Domestic manufacturing of electronics have grown exponentially, and India is now even exporting mobile phones and chargers to other markets, said Finance Minister Nirmala Sitharaman at her Union Budget 2021 speech earlier today. In conjunction, Sitharaman announced that as the government targets greater “domestic value addition”, “some parts” of the mobile manufacturing process will be imposed with a 2.5 percent duty going forward, instead of the fully exempted taxation in this sector so far.

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Budget 2021: LIC IPO to come in 2022, 2 PSU banks to be part of disinvestment: Sitharaman

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Image Source : PTI
Budget 2021: LIC IPO to come in 2022, 2 PSU banks to be part of disinvestment: Sitharaman
Presenting Union Budget 2021, Finance Minister Nirmala Sitharaman on Monday annonced that theÂ initial public offer (IPO) of Life Insurance Corporation (LIC) will be completed this year. Centre will introduce the initial public offer (IPO) of Life Insurance Corporation LTD. (LIC) in 2022 and will complete the divestments of Air India by 2022.
"In 2021-22 we would also bring the IPO of LIC for which I am bringing the requisite amendments in this session itself," Sitharaman said.
Finance Minister Nirmala Sitharaman says, "For start ups, we are allowing 1% companies to grow without any restriction on their paid up capital. Other than IDBI we plan to take up 2 more banks for disinvestment. LIC IPO will come in 2022. All divestments announced so far, including Air India, BPCL, CONCOR, Pawan Hans, to be completed by 2022."

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Union Budget 2021 In Photos: Finance Min Sitharaman Presents First Paperless Budget on a Tablet

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Union Budget 2021 In Photos: Finance Min Sitharaman Presents First Paperless Budget on a Tablet
Here is the tablet that Union Finance Minister used to present the first paperless budget, in pictures.
Tech | News18.com | February 1, 2021, 11:54 am
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Union Finance Minister Nirmala Sitharaman presented the Union Budget in the parliament today. This year, just like last year, the Union Finance Minister broke away from the older tradition, in order to present the budget in a paperless form, on a tablet. Last year, Sitharaman had presented the Union Budget in a traditional 'Bahi Khaata', which was also a move away from the age-old tradition of the Budget arriving in a suitcase. (Image Credit: Twitter/ ANI)

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Union Budget 2021: FM Confirms 2021 Census Will be First Digital Census in India

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Union Budget 2021: FM Confirms 2021 Census Will be First Digital Census in India
The Budget was presented on a tablet instead of the Bahi Khaata used last year. (Image Credit: Twitter/ ANI)
The announcement falls in line with Union Home Minister Amit Shah’s statement in 2019 about how the 2021 national census is planned to be held digitally.
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The 2021 national census of India will be held digitally, confirmed Finance Minister Nirmala Sitharaman during her Union Budget 2021 speech. Touching upon the topic, Sitharaman confirmed that the upcoming census of India would become the very first one in the history of India to be held digitally, marking India’s transit towards digitising government and public services, and continue transiting towards paperless operation systems. The FM’s statement falls in line with a previous statement given by Union Home Minister Amit Shah in 2019.

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