Union Budget 2021 Highlights: Download PDF

Union Budget 2021: Highlights

Dear All,

Today is the biggest day for Indian economy. 1st February 2021. Finance Minister Nirmala Sitharaman Present her third Budget in Parliament. So here we are providing the Important Live Budget 2021-22 Updates with the Competitive exam point of view. Keep Watching this page for Live Updates on Union Budget 2021-22.

Union Budget holds a very important part of the financial and economic awareness section. Union Budget releases every year in the month of February. Union Budget becomes a part of many government exams like Banking, Railways, SSC, etc.
Union Budget 2021 was presented by Finance Minister Nirmala Sitharaman in the Parliament.
Here in this article, we are providing the highlights of Union Budget 2021.
This article “Union Budget 2021: Highlights” will be very important for upcoming competitive examinations.

 Union Budget 2021

”Faith is the bird that feels the light and sings when the dawn is still dark”. -Rabindranath Tagore

(Fireflies – A Collection of Aphorisms)

  • 1st Paperless Budget
  • On a Tab Made in India

According to Speech of FM Nirmala Sitharaman

COVID Relief

  • The Prime Minister announced the Pradhan Mantri Garib Kalyan Yojana, valued at 2.76 lakh crores
  • free food grain to 800 million people,
  • free cooking gas for 80 million families for months,
  • and cash directly to over 400 million farmers, women, elderly, the poor and the needy.

Total financial impact of all AtmaNirbhar Bharat packages including measures taken by RBI was estimated to about `27.1 lakh crores which amounts to more than 13% of GDP.

  • PART A : In Part A, I wish to lay a vision for AtmaNirbhar Bharat. 

♦Budget Proposals 2021-22

  • Pillars

1)Health and Wellbeing

2)Physical & Financial Capital, and Infrastructure

3)Inclusive Development for Aspirational India

4)Reinvigorating Human Capital

5)Innovation and R&D

6)Minimum Government and Maximum Governance

♦1.HEALTH SYSTEM

  • PM AtmaNirbhar Swasth Bharat Yojana: outlay of about 64,180 crores over 6 years.
  • Support for 17,788 rural and 11,024 urban Health and Wellness Centers.
  • Setting up of 15 Health Emergency Operation Centers and 2 mobile hospitals.

 Universal Coverage of Water

  • The Jal Jeevan Mission (Urban) = 86 crores household tap connections
  • 5 years, with an outlay of `2,87,000 crores.

Swachch Bharat, Swasth Bharat

  • The Urban Swachh Bharat Mission 2.0 = 1,41,678 crores over a period of 5 years from 2021-2026.

Clean Air

  • 2,217 crores

Vaccine

  • Rs. 35,000 crores for Covid-19 vaccine

Note: OVERALL outlay for Health and Wellbeing is Rs. 2,23,846 crores (increase of 137%)

♦2.Physical and Financial Capital and Infrastructure

AtmaNirbhar Bharat – Production Linked Incentive scheme (PLI)

  • AtmaNirbhar Bharat have been announced for 13 sectors.
  • For this, the government has committed nearly Rs. 1.97 lakh crores, over 5 years starting FY 2021-22 (Manufacturing Hub)

Textiles

  • A scheme of Mega Investment Textiles Parks (MITRA)
  • 7 Textile Parks will be established over 3 years

Infrastructure financing – Development Financial Institution (DFI)

  • Government to set up a DFI
  • A sum of Rs. 20,000 crores to capitalise this institution
  • Lending portfolio of at least Rs. 5 lakh crores for this DFI in three years time

National Monetisation Pipeline of potential brownfield infrastructure assets will be launched

  • NHAI & PGCIL have sponsored one InvIT each
  • 5 operational roads with an estimated enterprise value of 5,000 crores are being transferred to the NHAI InvIT.
  • Transmission assets of a value of Rs. 7,000 crores will be transferred to the PGCIL InvIT
  • InvIT = Infrastructure Investment Trusts
  • PGCIL = Power Grid Corporation of India

Capital Budget

  • Capital Expenditure = Rs.5.54 lakh crore (+34.5% vs. FY21 BE)
  • FY21 = Rs.4.39 lakh crore
  • Sum of more than Rs. 44,000 crores in the Budget head of the Department of Economic Affairs
  • More than Rs. 2 lakh crores to States and Autonomous Bodies for their Capital Expenditure

Roads & Highway Infrastructure

  • More than 13,000 km length of roads of which 3,800 kms have been constructed
  • By March 2022, another 8,500 kms and complete an additional 11,000 kms of national highway corridors.
  • 3,500 km corridor in Tamil Nadu (Madurai-Kollam corridor, Chittoor-Thatchur corridor)
  • 1,100 km in Kerala at investment of Rs 65,000 cr (MumbaiKanyakumari corridor)
  • 675 km in West Bengal at a cost of Rs 95,000 cr (upgradation of existing road-Kolkata – Siliguri.)
  • 1,300 km in Assam in the next 3 years

Railway Infrastructure

  • National Rail Plan for India – 2030
  • 100% electrification of Broad-Gauge routes will be completed by December, 2023
  • 1,10,055 crores for Railways of which Rs. 1,07,100 crores is for capital expenditure.

Urban Infrastructure

  • 18000 cr = Expand Transport Services
  • ‘MetroLite’ and ‘MetroNeo’ technologies in Tier- II metros.

Petroleum & Natural Gas

  • Ujjwala Scheme= Covered 8 cr households and will be extended to 1 cr more beneficiaries
  • City Gas Distribution network = add 100 more districts in next 3 years.
  • A gas pipeline project will be taken up in Union Territory of Jammu & Kashmir.

Financial Capital

  • 1,000 crores = Solar Energy Corporation of India
  • 1,500 crores = Indian Renewable Energy Development Agency

Increasing FDI in Insurance Sector

  • Insurance Act, 1938 = FDI limit from 49% to 74%
  • Stressed Asset Resolution by setting up a New Structure

Recapitalization of PSBs

  • Recapitalization of 20,000 crores for bank is proposed in 2021-22

Deposit Insurance

  • DICGC Act, 1961 = Rs.1 lakh to Rs.5 lakh
  • Revised definition for NBFCs with minimum asset size of Rs.100 crores, minimum loan size eligible for debt recovery under (SARFAESI) Act, 2002 is proposed to be reduced from the existing level of Rs. 50 lakhs to Rs.20 lakhs.

Company matters

  • Revise the definition under the Companies Act, 2013 for Small Companies by increasing their thresholds for Paid up capital from not exceeding 50 Lakh to not exceeding Rs. 2 Crore and turnover from not exceeding Rs. 2 Crore to not exceeding 20 Crore.

Disinvestment

  • Target for FY22 = Rs.1.75 lakh cr
  • Disinvestment will be completed by 2021-22:
  • BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam limited
  • Other than IDBI Bank, Privatization of two Public Sector Banks and one General Insurance company in the year 2021-22
  • IPO of LIC

♦3. Inclusive Development for Aspirational India

Agriculture

  • MSP = 1.5 times the cost of production across all commodities
  • Farmers benefited from MSP in Paddy & Wheat = 54 cr
  • Amount paid to Farmers for Wheat in FY21 = Rs.75060 cr
  • Ans for Paddy in FY21 = 1.72 cr
  • For Pulses = Rs. 10530 cr
  • Under SVAMITVA scheme = about 1.80 lakh property-owners in  1,241 villages have been provided cards
  • Agricultural credit target = Rs.16.5 lakh crores in FY22
  • Allocation to the Rural Infrastructure Development Fund from Rs. 30,000 crores to 40,000 crores.
  • Micro Irrigation Fund= Rs. 5,000 crores , created under NABARD
  • ‘Operation Green Scheme’ = Tomatoes, onions, and potatoes, will be enlarged to include 22 perishable products.

Fisheries

  • 5 major fishing harbours – Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat

Migrants Workers

  • Under One Nation, One Ration
  • 69 crores beneficiaries – that’s a total of 86% beneficiaries covered
  • 32 states and UTs

Financial Inclusion

  • Reduce the margin money requirement from 25% to 15%, and to also include loans for activities allied to agriculture.
  • MSME sector allocation to be doubled = 15,700 crores in FY22 

♦4.Reinvigorating Human Capital

  • The National Education Policy (NEP) announced recently has had good reception
  • 100 new Sainik Schools will be set up
  • Set up a Central University in Leh.
  • A target of establishing 750 Eklavya model residential schools in our tribal areas

♦5.Innovation and R&D

  • Worked out the modalities and the NRF outlay will be of 50,000 crores, over 5 year
  • 1500 crore for a scheme to boost Digital Payment
  • Gaganyaan mission = 4 Indian astronauts are being trained on Generic Space Flight aspects, in Russia.
  • The first unmanned launch is slated for December 2021
  • Deep Ocean Mission = more than Rs. 4,000 crores, over five years

 ♦6.Minimum Government, Maximum Governance

  • The forthcoming Census could be the first digital census in the history of India allocated 3,768 crores in the year 2021-2022.
  • 300 crore = Govt of Goa as grant for celebration of 50 years of Independence from the Portugues
  • 1000 cr = Bengal, Assam Tea workers

Fiscal Position

  • FY21 fiscal deficit at 5% of GDP
  • FY21 Gross Expenditure = Rs.34.5 lakh cr
  • FY21 Capital Expenditure = Rs.4.39 lakh cr
  • FY22 fiscal deficit target = 6.8% of GD
  • FY22 Gross Expenditure = Rs. 34.83 lakh cr
  • FY22 Capital Expenditure = Rs.5.54 lakh cr
  • Market borrowing in Fy22 = Rs.12 lakh cr

Note:  Hope to get Fiscal Deficit by FY26 = below 4.5%

Part B

Relief to Senior Citizens

  • Pensioners over 75 years of age are exempt from filling returns Exemption from Audit
  • Turnover exceeds Rs. 5 crore increased to Rs.10 crore if 95% transaction in digital form

Budget 2021-Downlond PDF 

QUIZ

  1. How many pillars in the budget of FY22?

वित्त वर्ष 2022 के बजट में कितने स्तंभ हैं?

(a) 3

(b) 4

(c) 5

(d) 6

Ans:4,

Exp: 6 Pillars

  • Health and Wellbeing
  • Physical & Financial Capital, and Infrastructure
  • Inclusive Development for Aspirational India
  • Reinvigorating Human Capital
  • Innovation and R&D
  • Minimum Government and Maximum Governance
  1. How much fund has been allocated by FM in ‘mini-budget’ to beat COVID?

 COVID को हराने के लिए मिनीबजट में FM द्वारा कितना फंड आवंटित किया गया है?

(a) Rs. 15 lakh cr / 15 लाख करोड़ रु

(b) Rs.20 lakh cr / 20 लाख करोड़ रु

(c) Rs. 25 lakh cr / 25 लाख करोड़ रु

(d) Rs. 30 lakh cr / 30 लाख करोड़ रु

Ans: D

Exp: Rs. 30 lakh cr / 30 लाख करोड़ रु

  1. The total estimated of all relief measures announced by Govt. & RBI is what percent of GDP?

सरकार द्वारा घोषित सभी राहत उपायों का कुल अनुमान। & RBI, GDP का कितना प्रतिशत है?

(a) 10%

(b) 12%

(c) 13%

(d) 15%

Ans:3,

Exp: Total financial impact of all AtmaNirbhar Bharat packages including measures taken by RBI was estimated to about `27.1 lakh crores which amounts to more than 13% of GDP.

  1. How much fund govt. is planning to spend in healthcare sector over the next 6 years?

कितना फंड सरकार अगले 6 वर्षों में स्वास्थ्य सेवा क्षेत्र में खर्च करने की योजना है?

(a) Rs.55180 cr / 55180 करोड़ रु

(b) Rs. 62180 cr / 62180 करोड़ रु

(c) Rs. 66180 cr / 66180 करोड़ रु

(d) Rs.64180 cr / 64180 करोड़ रु

Ans:4,

Exp: PM AtmaNirbhar Swasth Bharat Yojana: outlay of about 64,180 crores over 6 years.

  1. How much fund has been allocated by the govt. for Urban Clean India Mission?

सरकार द्वारा शहरी स्वच्छ भारत मिशन के लिए कितना फंड आवंटित किया गया है?

(a) Rs. 2.87 lakh cr / 2.87 लाख करोड़ रु

(b) Rs. 1.21 lakh cr / 1.21 लाख करोड़ रु

(c) Rs. 1.42 lakh cr / 1.42 लाख करोड़ रु

(d) Rs. 2.28 lakh cr / 2.28 लाख करोड़ रु

Ans:2,

Exp: The Urban Swachh Bharat Mission 2.0 = Rs.1,41,678 crores over a period of 5 years from 2021-2026.

  1. FM has announced the new health Infra Scheme with higher outlay of Rs. ____ cr.

एफएम ने Rs. ____ करोड़ के उच्च परिव्यय के साथ नई स्वास्थ्य इंफ्रा योजना की घोषणा की है।

(a) 21000

(b) 41000

(c) 61000

(d) 81000

Ans: c

Exp: 61000

  1. How much fund will be capitalised to set up DFI?

डीएफआई स्थापित करने के लिए कितना फंड कैपिटल होगा?

(a) Rs.1000 cr / 1000 करोड़ रु

(b) Rs. 2000 cr / 2000 करोड़ रु

(c) Rs. 10000 cr / 10000 करोड़ रु

(d) Rs. 20000 cr / 20000 करोड़ रु

Ans:4,

Exp: Infrastructure financing – Development Financial Institution (DFI)

Government to set up a DFI

a sum of Rs. 20,000 crores to capitalise this institution

lending portfolio of at least Rs. 5 lakh crores for this DFI in three years time

  1. What is the estimation of Capital expenditure for FY22?

वित्त वर्ष 2022 के लिए पूंजीगत व्यय का अनुमान क्या है?

(a) Rs.4.39 lakh cr / रु 4.39 लाख करोड़

(b) Rs. 5.54 lakh cr / रु 5.54 लाख करोड़

(c) Rs. 3.28 lakh cr / रु 3.28 लाख करोड़

(d) None of these / इनमें से कोई नहीं

Ans:2,

Exp:  Capital Expenditure = Rs.5.54 lakh crore (+34.5% vs. FY21 BE)

  1. How much amount has been allocated for Railways in FY22?

FY22 में रेलवे के लिए कितनी राशि आवंटित की गई है?

(a) Rs. 1.10 lakh cr / रु 1.10 लाख करोड़

(b) Rs. 1.15 lakh cr / रु 1.15 लाख करोड़

(c) Rs.1.07 lakh cr / रु 1.07 लाख करोड़

(d) Rs. 1.12 lakh cr / रु 1.12 लाख करोड़

Ans:1,

Exp: Rs. 1,10,055 crores for Railways of which Rs. 1,07,100 crores is for capital expenditure.

  1. Indian Railway have National Rail Plan for _____.

भारतीय रेलवे के पास _____ के लिए राष्ट्रीय रेल योजना है।

(a) 2022

(b) 2025

(c) 2030

(d) 2035

Ans:3,

Exp: National Rail Plan for India – 2030

  1. How much amount has been provided for COVID-19 vaccine?

COVID-19 वैक्सीन के लिए कितनी राशि प्रदान की गई है?

(a) Rs. 10000 cr / 10000 करोड़ रु

(b) Rs. 15000 cr / 15000 करोड़ रु

(c) Rs. 25000 cr / 25,000 करोड़ रु

(d) Rs. 35000 cr / 35000 करोड़ रु

Ans:4,

Exp: Vaccine =Rs. 35,000 crores for Covid-19 vaccine

  1. How many Mega textiles park will be set up in next 3 years?

अगले 3 वर्षों में कितने मेगा कपड़ा पार्क स्थापित किए जाएंगे?

(a) 3

(b) 4

(c) 7

(d) 9

Ans:3,

Exp: Textiles

A scheme of Mega Investment Textiles Parks (MITRA): 7 Textile Parks will be established over 3 years

  1. What is the new FDI limit in Insurance sector?

बीमा क्षेत्र में नई FDI सीमा क्या है?

(a) 15%

(b) 49%

(c) 74%

(d) 100%

Ans:3,

Exp: Increasing FDI in Insurance Sector

Insurance Act, 1938 = FDI limit from 49% to 74%

  1. How much amount is allocated for bank recapitalisation?

बैंक पुनर्पूंजीकरण के लिए कितनी राशि आवंटित की जाती है?

(a) Rs. 1000 cr / 1000 करोड़ रु

(b) Rs. 10000 cr / 10000 करोड़ रु

(c) Rs. 2000 cr / 2000 करोड़ रु

(d) Rs. 20000 cr / 20000 करोड़ रु

Ans:4,

Exp: Recapitalization of PSBs: Recapitalization of Rs. 20,000 crores is proposed in 2021-22

  1. What is the disinvestment target for FY22?

FY22 के लिए विनिवेश लक्ष्य क्या है?

(a) Rs. 1.25 lakh cr / 1.25 लाख करोड़

(b) Rs. 2.25 lakh cr / 2.25 लाख करोड़

(c) Rs. 1.75 lakh cr / 1.75 लाख करोड़

(d) Rs. 2.75 lakh cr / 2.75 लाख करोड़

Ans:3,

Exp: Disinvestment Target for FY22 = Rs.1.75 lakh cr

  1. How many PSU banks will be privatized in FY22?

FY22 में कितने PSU बैंकों का निजीकरण किया जायेगा?

(a) 1

(b) 2

(c) 3

(d) 4

Ans:2,

Exp: Other than IDBI Bank, Privatization of two Public Sector Banks and one General Insurance company in the year 2021-22

  1. Rural Infrastructure Development Fund has been increased from Rs.30000 cr to _____cr.

रूरल इन्फ्रास्ट्रक्चर डेवलपमेंट फंड को 30000 करोड़ रु से बढ़ाकर _____ रु कर दिया गया है

(a) Rs. 35000 / 35000 रु

(b) Rs. 40000 / 40000 रु

(c) Rs. 45000 / 45000 रु

(d) Rs. 50000 / 50000 रु

Ans:2,

Exp: Allocation to the Rural Infrastructure Development Fund from Rs. 30,000 crores to Rs. 40,000 crores.

  1. What is the fiscal deficit of FY21 of GDP?

जीडीपी के वित्तीय वर्ष 21 का राजकोषीय घाटा क्या है?

(a) 6.8%

(b) 6.9%

(c) 8.5%

(d) 9.5%

Ans:4,

Exp: FY21 fiscal deficit at 9.5% of GDP

  1. How fund has been allocated to MSMEs in FY22?

वित्त वर्ष 22 में एमएसएमई को फंड कैसे आवंटित किया गया है?

(a) Rs.12700 cr / 12700 करोड़ रु

(b) Rs.13700 cr / 13700 करोड़ रु

(c) Rs.14700 cr / 14700 करोड़ रु

(d) Rs.15700 cr / 15700 करोड़ रु

Ans:4,

Exp: MSME sector allocation to be doubled = Rs.15,700 crores in FY22

  1. How much fund has been allocated to launch Deep Ocean Mission?

डीप ओशन मिशन को लॉन्च करने के लिए कितना फंड आवंटित किया गया है?

(a) Rs. 1000 cr / 1000 करोड़ रु

(b) Rs. 2000 cr / 2000 करोड़ रु

(c) Rs. 3000 cr / 3000 करोड़ रु

(d) Rs. 4000 cr / 4000 करोड़ रु

Ans:4,

Exp: Deep Ocean Mission = more than Rs. 4,000 crores, over five years

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