Complete Details about Union Budget 2021, Date, Expectations, and Procedure to Download PDF once announced
Latest Update : After a long wait, the union budget has finally unveiled by Union Finance Minister in the cabinet. The government has laid major focus on the Health Care, Agriculture Sectors. Moreover, the government has stressed more on providing budget for the West Bengal, Kerala and Tamilnadu state in which the elections will schedule soon.
All the eyes of the Indians are waiting eagerly for the Union Budget 2021 that will be announced soon in the parliament today i.e, on 01 February 2021. Moreover, this time, the upcoming budget has gained more prominence because of the recent pandemic that affected India’s sections. For the following reasons, all the sectors like finance, agriculture, health sector people are waiting for the budget sessions.
This article focuses on the complete details of the yet to be announced Union Budget 2021.
Union Budget 2021
This article explains the Union Budget 2021, Launch Date, Expectations on the budget, and the available online sources of Budget documents PDF.
Official Date of the Announcement of Union Budget 2021
- As per the information sources, the Honorable Finance Minister of India, Mrs. Nirmala Sitaraman, will present the union budget for the next fiscal year on 1st February 2021.
- However, this time, both the state governments and the citizens have many expectations about the upcoming budget.
Highlights of Union Budget 2021
As scheduled, the Finance Minister Niramala Sitaraman have been presenting the Union Budget for the year 2021-22.
- As expected, the union budget emphasis is on the health sector.
- The government will set up health labs in all the districts.
- 15 Emergency Health Centers will set up across the country.
- Around 35 Thousand Crores are going to spend on the Corona Vaccination.
- Government also aims to set up the innovation and R&D Centers.
- The government will set up Nagar Swachh Bharat Mission.
- 87,000 Crore will be spent on the Pure Drinking Water Projects.
- Around 17000 Rural and Urban Health Centers are going to come up in the country.
- Government will set up 7 textile parks across the country in coming 3 years.
- There is also plan to set up 4 virology labs in the country.
- The government has allotted 19000 Crores to develop the highways in the Assam State.
- An amount of 1.10 Lakh Crore will be spent on the Railways this year.
- The focus will be on the Kerala, West Bengal and Tamilnadu Elections.
- The electrification of railways lines will be completed by 2023.
- Around 3500 Kilometers of Highways are going to develop in Tamilnadu.
- 74% of foreign investments in insurance companies has been announced.
- The government will give permissions for startups in 128 days.
- There will be a provision of free gas for 8 Crore People.
- Government allots ₹20,000 crore for bank recapitalization: FM.
- Centre to provide ₹18,000 crore for public buses, announces FM Nirmala Sithraman.
- An IPO is going to introduce in the LIC.
- A Central University will be setting up in Leh.
- Major Harbors will set up in Chennai and Vishakapatnam.
- 69 Crore People will get benefited by the One Nation One Ration.
- A BAD Bank is going to set for the good financial governance.
- It has been announced that nursing bill will be implemented soon.
- In a surprising move, the government has increased the Petrol Prices up to 2.50 Rs and Diesel Prices up to 4 Rupees.
- There is no change in the income tax slab as per the budget.
- Mobile Phones, Spare Parts, Petrol, Diesel, Edible Oils prices will be increased.
- Leather, Purses, Shoes, Gold, and Silver prices will be reduced.
Six Pillars of Union Budget 2021-22
Let us see the six pillars of the budget announced by the Union Finance Minister.
Health and wellbeing
Development of human capital
Research and development
Minimum government, maximum governance
Expectations on the Indian Budget 2021
Let us see the people’s expectations on the Union Budget that will be announced by the nation’s Finance Minister.
Growth and Recovery :
- The primary focus will be on boosting the GDP (Gross Domestic Product).
- The expectations are that the government will give a special priority that boosts up the various sectors hit by the recent pandemic.
- There are huge expectations on the government’s relaxations to the affected sections of people in the country.
Focus on Agriculture Sector
- Agriculture has become the most affected sector in the country during the pandemic.
- This budget session has become the most crucial to the government as the government will announce after the pandemic. Moreover, everyone’s eyes are on the government’s announcements about the farmer’s welfare at this moment.
- Thus there are huge expectations for the upcoming budget session scheduled on 1st February 2021.
- The farmers have also been waiting for the allocation of funds to improve warehousing and cold storage facilities.
- A few experts opinion is on the government’s announcement to reduce the fertilizers and other chemicals used for farming.
- However, the farmers have made clear demands such as a guarantee on the Minimum Support Price (MSP) and permanent withdrawal of the three farm laws.
- The farmers’ protest in the national capital has also made the budget the most awaited thing.
Focus on Healthcare Expenditure
- The recent pandemic has also created a lot of hopes in the upcoming budget sessions.
- Everyone is eagerly waiting for the government’s announcement on boosting the healthcare sector.
- It is expected that the government will concentrate on improving the healthcare infrastructure in the country. Moreover, it has already been announced that the government will issue health cards all over the country.
- As per the opinion of financial analysts, it is estimated that the government will spend expenditure on pharma research and disease surveillance.
- Besides the things listed above, the government will also spend more expenditure on the defense sector.
- The expectations are also going around on increasing the Section 80C that boosts further investment and increase tax savings for an individual.
- The concentration will also be on boosting the cash flows of the middle-class taxpayer.
- The Partnerships and LLP’s are expecting that the government will lower the tax rates.
- Expectations are also going that the union government will impose new GST laws and GST Rate Cuts.
Download the Union Budget 2021 after announcement PDF
Let us see the online procedure to download the Union budget for the next fiscal year 2021.
- Visit the Official Portal of Union Budget.
- It takes the online user to the home page below.
- At this moment, we can observe the complete details of the Union Budget 2020.
- However, one can observe the complete details of the Union Budget 2021 once after the official announcement.
- We will keep you updated once the Union Budget PDF Documents and the complete details related to the budget are available on the portal.
- Please keep visiting our articles to get the latest updates on the union budget and other articles.
Union Budget 2021 FAQ’s
What is the official date of the announcement of the Union Budget for the year 2021?
The union budget will announce the union budget on 1st February 2021 by the honorable finance minister Mrs. Nirmala Sitaram.
Is there any official portal for viewing the updates on the union budget 2021?
The union government has launched the web portal indiabudget.gov.in for viewing the latest updates about the union budget 2021.
What are the major sectors the government will concentrate on in the union budget sessions 2021?
The finance, healthcare, and agriculture sectors are expected to get a special place in the union budget.
Who will present the fiscal budget for the fiscal year 2021 in the parliament?
The honorable finance minister Mrs. Niramala Sitaraman will present the fiscal budget in the upcoming parliament sessions.