Budget 2021-22 Highlights | Summary | Analysis | India Budget | Explained

Описание: In this video, we have discussed Budget 2021-22 highlights.

▲ The first Union budget of the third decade of the 21st century was proposed by Finance Minister Nirmala Sitharaman.
#Budget2021

➤ MSMEs and Individuals

▶ 15,700 crores will be allocated to the government’s MSME sector.
▶ In the Start-up India Scheme, the margin money will be lowered from 25% to 15%.
▶ Now, NRIs will have one independent company in India.

➤ Taxation

▶ Citizens above the age of 75 who have a pension and interest earnings are excluded from paying federal tax returns.
#FederalTaxReturns

▶ A dispute resolution committee for small taxpayers will be formed.
▶ Appeal courts for faceless income tax and a nationwide income tax appeal tribunal centre will be developed.
▶ Non-Resident Indians (NRIs) would be excluded from double taxes on their overseas retirement accounts if they demand an exemption on India’s tax deducted.
▶ The right to claim an exemption from tax holidays and capital gains for start-up investments has been extended to 31 March 2022.
▶ GST’s twisted duty systems will be reduced and 400 old exemptions will be reviewed.
▶ The tax audit cap to $10 million has been raised for firms that perform 95 per cent of their transactions online.
▶ Only cases of serious income concealment tax breach greater than Rs 50 Lakh a year will be allowed to be reopened for up to ten years.

➤ Savings

▶ The interest gained on the annual contribution of PF over the value of 2.50 Lakh per annum is now taxable.

➤ Housing and Healthcare

▶ Under the subsidized rental housing system, migrant staff will now take advantage of a 1.50 lakh interest tax holiday.
▶ 64,180 crore scheme to improve healthcare facilities under Prime Minister Atmanirbhar Swasthya Bharat Yojana.
▶ Tax cuts for affordable housing projects extended until March 31, 2022.

➤ Banking market and Insurance

▶ The Depositories Act and the other two statutes are to be translated into a single Uniform Trading Code for Securities.
▶ The insurance sector’s Foreign Direct Investment (FDI) cap from 49 percent to 74% has expanded.

➤ Agriculture and Allied Sector and Rural Development

▶ An agricultural cess of 2.5 per litre on petrol and Rs 4 per litre diesel.
▶ The price of MSP has been raised by 1.5 times.
▶ In the ENAM market location, more than 1,000 mandis are to be integrated.

➤ Industry and Infrastructure

▶ A 5.54 trillion capital spending to raise heavy and medium Commercial Vehicle Production.
▶ A cooperative scrappage scheme and expand the number of buses in the public transit system will be enforced.
▶ 1.10 Lakh crore was allotted in FY22 to Indian Railways.

➤ Education

▶ 100 Sainik Schools and 750 Eklavya Schools will be created in tribal areas.
▶ A new central university will be built in Ladakh soon.
▶ More than 15,000 schools will be improved.
▶ An Umbrella System would be established for central higher education institutions in different cities.

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Time Stamps:
MSMEs and Individuals: 0:11
Taxation: 0:29
Savings: 1:37
Housing and Healthcare: 1:49
Banking market and Insurance: 2:28
Agriculture and Allied Sector and Rural Development: 2:47
Industry and Infrastructure: 3:14
Education: 3:41
For more information: 4:14
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