Union Budget 2021 highlights: Budget focuses on healthcare and Infrastructure, says Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Monday presented the Union Budget for Financial Year 2021-22 in which she announced various measures for the revival of  Covid-19 pandemic hit economy.  The budget gave major emphasis to education, healthcare and infrastructure sectors.

Besides, a host of substantial announcements were made on the divestment front, including the coming IPO of Life Insurance Corporation. 

Sitharaman also said that the government is committed to the welfare of farmers and the Minimum Support Price (MSP) regime has undergone a change to assure price to farmers that is at least 1.5 times the cost of production across all commodities.

The economy is projected to contract 7.7% in the current fiscal year, although the government forecasts growth of 11% for the coming fiscal year, after a massive COVID-19 vaccination drive and a rebound in consumer demand and investments.
 

Highlights | Union Budget 2021 tabled in Parliament

5:30 pm: Rajasthan Chief Minister Ashok Gehlot unhappy with Budget, says people left disappointed

4:50 pm: Defence Minister Rajnath Singh thanks FM Nirmala Sitharaman for increasing the defence budget to Rs. 4.78 lakh crores.
 

4:37 pm: It is anti-people budget. They always make false statements. India's first paperless budget sold almost every sector. There is nothing for the unorganized sector in the budget: West Bengal Chief Minister Mamata Banerjee

4:30 pm: Budget 2021 has many provisions for agriculture sector & increasing farmer’s income. Farmers will get easy & more credit. Provisions have been made for strengthening APMC & Agriculture Infrastructure Fund, says PM.

4:25 pm:  We are expecting Rs 30,000 crores through Agriculture Infrastructure and Development Cess. This cess has been designed such a manner that it won't impact common man: Finance Secretary AB Pandey

4:20 pm: Agriculture Development Cess has been proposed only on about 14 - 15 items, it has been done in such a manner that it does not impose any additional burden on taxpayer, the expected revenue is about ₹ 30,000 crore - Finance Secretary

4:10 pm: We have made brave decisions to keep government accounts open and transparent. Provision for extra budgetary resources in #Budget2021 is zero, for unidentified contingency, it is ₹ 30,000 crore, says FM. 

Watch: Nirmala Sitharaman addresses press confrence after presenting Union Budget 2021
 

4:03 pm:  On farm laws, Government is and has always been open to dialogue with farmers; Agriculture Minister has been ready to have clause-by-clause discussion with farmers on the farm laws: FM

3:59 pm: Defence Budget consists of three component - revenue, pension & capital component. The Budget allocation for the capital component in 2020-21 was Rs 1,13,734 crores. It has gone to Rs 1,35,060 crores which is an increase of 20%: TV Somanathan, Secretary, Expenditure.

3:55 pm: Modi plans to give assets to crony capitalist friends: Rahul

3:52 pm: Budget is a progressive and comprehensive document: CAIT

3:49 pm:  Budget favourable for selected companies: Kejriwal

3:35 pm:  Accounting of government expenditure and revenue statements are now a lot more transparent and open: Finance Minister Nirmala Sitharaman

3:30 pm: Our fiscal deficit which started at 3.5% during Feb 2020 has increased to 9.5% of GDP, so we have spent, we have spent and we have spent, says FM

3:25 pm:  We reduced the customs duty and levied a disproportionate amount of cess on certain products. Hence, there won't be additional burden on the end consumer: FM Sitharaman

3:20 pm: Govt hopeful regarding next year fiscal deficit can be less than 6.8 per cent target.

3:15 pm: FM highlights two key features of the budget

"We chose to spend big on infrastructure spanning across roads, bridges, ports, power generation and so on. Moreover, we attended to the needs of the healthcare sector."

3:10 pm:  Finance minister Nirmala Sitharaman briefs media on Union Budget 2021

 3:00 pm: The Budget has the vision of self-reliance and features every section of the society: PM Narendra Modi
 

1:42 pm: Congress terms Budget as anti-farmer
1:38 pm: Yogi lauds Budget calling it a major step towards Atmanirbhar Bharat, Samajwadi Party slams it

1:16 pm: Finance Minister Nirmala Sitharaman concludes her Budget speech
 

1:15 pm: No change in I-T slabs

1:13 pm: Sitharaman concludes her Budget speech

1:11pm: Customs duty on solar lanterns cut to 5%

1:08 pm: Union Budget 2021: Customs duty on cotton increased to 10%, silk to 15%

1:04 pm: Customs duty on copper scrap cut to 2.5%

1:01 pm: Customs duty on some auto parts to be raised to 15%: FM

12: 58 pm: Late deposit of employee's contribution to PF by employers will not be allowed as deduction to employer: FM

12:55 pm: To further ease filing of IT returns, details of capital gains and interest from banks, post offices, etc will be pre-filled

12:53 pm: Advance tax liability on dividend income shall arrive only after declaration of payment of dividends: FM

12:50 pm: Tax audit limit increased from Rs 5 crore to Rs 10 crore

12:45 pm: For senior citizens who only have pension and interest income, I propose exemption of filing of income tax returns: FM

12:41 pm: Will take further steps to ease tax compliance: FM Sitharaman

12:38 pm: Contingency Fund to be increased to 30,000 crore

12:35 pm: Rs 30.42 lakh crore budget estimate of total expenditure risen to revised estimate of Rs 34.50 lakh crore: FM

12:32 pm : We aim to bring fiscal deficit below 5% of the GDP by 2025-26: FM

12:28 pm: Rs 1,000 crore for tea workers in Assam and Bengal

12:25 pm: BPCL, Air India, Shipping Corp, Container Corp and other disinvestments will be completed in 2021-22

12:21 pm: Ujjwala scheme will be expanded to cover over 1 crore more beneficiaries

12:18 pm:  Over 15,000 schools to be qualitatively strengthened under National Education Policy

12:15 pm:  FM proposes increase in agriculture credit target to Rs 16.5 lakh crore

12:12 pm: Over Rs 75,000 crore paid to wheat farmers in 2020-21, 43.36 lakh benefited from this and
total amount paid to paddy farmers surged to Rs 1.72 lakh crore in 2020-21, says sitharaman

12:10 pm: Government's FY22 disinvestment revenue target is Rs 1.75 lakh crore

12:07 pm: Government to bring LIC IPO in 2022

12:05 pm: FM announces further infusion of Rs 20,000 crore for public sector banks 

12:03 pm: FDI in insurance hiked to 74% from 49%

12:00 pm: Gas pipeline project to be taken up in J&K

11:54 am: Rs 3.05 lakh crore outlay for power sector

11:52 am: Seven projects worth Rs 2,000 crore in PPP mode for ports and Efforts will be made to bring more ships to India from Europe and Japan

11:50 am: Centre to provide Rs 18,000 crore for public buses

11:48 am: FM announces a record Rs 1.10 lakh crore outlay for railways, of which Rs 1.7 lakh crore is for capital expenditure

11:45 am:  675 km of highway works announced in West Bengal at a cost of Rs 25,000 crore

11:41 am: Government aims to complete 11,000km of national highway infrastructure this year

11:39 am: For 2022, FM propose a sharp increase in capital expenditure at 5.54 lakh crore, from Rs 4.39 lakh crore in 2021

11:35 am: New scrappage policy - 20 years in case of personal vehicles and 15 years in case of commercial vehicles

11:33 am:  The total budget outlay for healthcare is 2.23 lakh crore. This is an increase of 137% from last year

11:30 am: FM announces Rs 35,000 crore for Covid-19 vaccines

11:28 am:  Vaccines will be rolled out across the country. This will prevent over 50,000 child deaths annually

11:25 am: FM proposes Rs 2,217 crore outlay for 42 urban centers to tackle air pollution

11:22 am:  Rs 2.87 lakh crore for Jal Jeevan Mission

11:20 am: Rs 64,180 crore will be invested over 6 years to improve primary, secondary and tertiary healthcare.

11: 17 am: Budget proposals for 2021-22 rest on six pillars, says FM

11:15 am:  Only 3 times in the past the budget has followed a contraction in Indian economy. This time it's because of a global pandemic like in other countries. The government is fully prepared to support and facilitate the economic reset

11:10 am: The preparation of this budget was undertaken in circumstances like never before, in view of calamities that have affected a country or a region within a country.

11:06 am: The government under PM Modi focused on delivering to the most vulnerable sections of the society

11:03 am : During the lockdown last year, PM Modi announced the Pradhan Mantri Gareeb Kalyan Yojna worth 2.76 lakh crore for the poor and the needy

11:00 am:  Finance Minister Nirmala Sitharaman begins her Budget speech for Financial Year 2021-22 in Parliament 

10:50 am : Union Budget 2021 is Modi government's 9th straight budget since 2014. Finance minister Nirmala Sitharaman will now present the budget in Parliament. The session will begin at 11am

10:30 am: Union Budget 2021 is Modi government's 9th straight budget since 2014

10:20 am:  Congress MP Jasbir Singh Gill wears a black gown to Parliament as a mark of protest against the three farm laws 

10:10 am:  "Budget 2021 must increase healthcare and defence expenditure, support farmers," tweets Rahul.

10:00 am: The documents will be upload on the government website as well as the Union Budget special app

9:40 am: Prime Minister Narendra Modi is chairing the meeting of Union Cabinet

9:30 am:  Finance Minister Nirmala Sitharaman and MoS Finance & Corporate Affairs Anurag Thakur arrive at the Parliament.

 

9:10 am: Finance minister Nirmala Sitharaman calls on President Kovind at Rashtrapati Bhavan before presenting the Union Budget 2021-22

9:00 am: Sitharaman replaces Swadeshi 'bahi khata' with tablet as Union budget goes digital. 

8:50 am: Sensex jumps over 550 points, Nifty above 13,650 in pre-opening session.

8:40 am:  Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present the Union Budget 2021-22 in the Parliament today. MoS Finance and Corporate Affairs Anurag Thakur has also arrived at the Ministry of Finance.

8:30 am: In a survey covering more than 550 participants, 39.7 per cent respondents said healthcare would get the highest priority in resource allocation and policy support, in the face of the country braving the once-in-a-century global pandemic.

8:20 am:  MoS Finance Anurag Thakur offers prayers at his residence, ahead of the presentation of the Union Budget 2021-22 in the Parliament today. 

08:10 am: This will be India's first paperless budget. In view of Covid-19 pandemic, hard copies of the budget have not been printed this time. The budget will be distributed electronically to Members of Parliaments (MPs).

08:00 am: Finance Minister Nirmala Sitharaman's budget speech will start at 11am in Parliament