Finance Minister Nirmala Sitharaman presented the Union’s Budget for 2021-2022 at the Lok Sabha, today. Right from the common man to the major sectors like health and automobile, everyone had high expectations from this year’s budget presentation. Let us find out who-got-what from the 2021-2022 budget.
Senior citizens exempted from ITR-filing obligation
The Finance Minister has provided great relief to the senior citizens. Now, the senior citizens (above 75 years) will not be compelled to file the ITR. In short terms, pensioners above 75 years are exempted from mandatory income tax. On the other hand, the general income taxpayers have not received any relief from this year’s budget.
Health sector allotted a budget of Rs 64,180 Cr
Finance Minister Nirmala Sitharaman said that structural reform plans of the health sector have already been strengthened by the government’s Rs 27.1 lakh crore ‘Atma Nirbhar’ package, which was introduced to counter the COVID-19 epidemic. However, Sitharaman proposed health programs with an outlay of Rs 64,180 crore under the Atma Nirbhar India campaign. She informed that this would be in addition to the 2005-launched National Health Mission.
Reinforcements in the Education sector
For better higher-education opportunities in Leh, the Finance Minister proposed to establish a Central University in the newly-formed UT. In addition to this, 100 new Sainik Schools will be opened across the country. The Union Finance Minister made a big announcement in the budget by proposing to build 15 thousand ‘Adarsh’ schools nation-wide. Sitharaman added that 758 ‘Eklayva’ schools will be opened in tribal areas to provide basic facilities to the children residing in tribal areas.
Much-awaited budget for the farmers and agricultural sector
In this budget, big announcements have been made for the farmers and people associated with the agricultural sector. The government has plans to boost the income of the country’s farmers. According to the government’s claims, it aims to double the income of the farmers by the next year! In her speech, Sitharaman announced that the government will try to provide the farmers about 1.5 times gain on their expenditure. The Finance Minister informed that in the F.Y. 2013-14, 63 thousand crore rupees were spent on paddy purchase, which has increased to one lakh 45 thousand crore rupees. This year, this figure can reach up to one lakh 72 thousand crore rupees.