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Union Budget 2021-22: India Budget News & Updates, Railway Budget, FM Nirmala Sitharaman Speech


Budget 2021
The Union Budget 2021 was presented by Finance Minister Nirmala Sitharaman on February 1. The budget for the next fiscal year starting April 1 had several growth-oriented measures including major focus on infrastructure development across all sectors. A chunk of this year’s budget outlay will be used for enhancing infrastructure across sectors. FM Sitharaman also proposed a higher budget allocation of Rs 2.23 lakh crore for healthcare in the wake of the coronavirus pandemic. Besides the higher allocation, a new healthcare plan was also announced. Some key sectors like defence and agriculture are also got a boost in Nirmala Sitharaman’s third budget announcement. While the government’s spending has gone up in the budget, much of it was aimed at boosting infrastructure to support jobs and development. However, no major tax changes were announced in view of the tight revenue position and higher spending. ....

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Income tax I Union Budget 2021-22: Govt likely to leave tax slabs intact but some relief likely, says reports


The finance ministry is, however, mulling tax exemptions to boost savings, healthcare and affordable housing.
Union Budget 2021-22: Govt likely to leave tax slabs intact but some relief likely, says reports   |  Photo Credit: BCCL
In a dampener for the common man, reports suggest that the government is likely to keep income tax slabs in the forthcoming Budget 2021-22. This means any changes in personal tax rates seem off the table as of now. 
However, the finance ministry is mulling tax exemptions to boost savings, healthcare and affordable housing.  
It is to be noted that changes on the personal tax front as the government in 2020 introduced an alternative tax slab structure with lower tax and no exemptions.  ....

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