BUDGET 2021 KEY HIGHLIGHTS

BUDGET 20-21

  1. Reduced custom duty to alloy(steel/iron) to 7.5%
  2. 7 mega TEXTILE parks within 3 yrs time
  3. GAIL IOC HPCL Will sale pipeline assets
  4. Health will get FY22-2.2 lk cr
  5. By next yr 8500km of ROAD project will be completed
  6. Minimum of road transport n highway will get 1.18 lk cr
  7. FY-22 Fiscal deficit estimate -6.8%
  8. FY-21 Fiscal deficit- 9.5% Actual
  9. Security market code will be launched
  10. GOLD Exchange will be regulated by SEBI
  11. FDI in insurance- increase to 74% from 49%
  12. FY-22 PSUs will get 20k cr
  13. No restriction on OPC
  14. NCLT framework will be strengthen
  15. Small company’s PAID UP CAPITAL limit increased to 20Cr
  16. Main PSUs divestment will take in FY 21-22 INCLUDING 2 public banks & 1 General insurance co
  17. LIC IPO will be launched in FY-22
  18. 5 major fishing hubs would be developed in the country
  19. MSME will get 15,700 Cr
  20. 100 new army schools will be build
  21. National research foundation will get 50k cr
  22. Digital payment will be provided with an incentive of 1500 cr
  23. Estimated gross borrowing of govt for FY 22 would be 12 lk cr
  24. FISCAL DEFICIT Target of 4.5 % of GDP BY FY25-26
  25. Exemption for those above 75 yrs not to pay TAX having income from pension
  26. TAX AUDIT Limit increased from 5 cr to 10 cr for those making 95% transactions digitally
  27. Limit for reopening of IT Assessments reduced to 3 yrs from 6yrs
  28. Details of capital gain from listed exchanges, bank interest PPF interest will come pre filled in ITR FORMS
  29. Tax holiday period for start ups by 1 more year
  30. Increased Start up investment capital gain exemption by 1 more year
  31. Mobile components custom duty increased to 2.5%