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{{Infobox government budget | {{Infobox government budget | ||
|title = [[Union Budget of India]] | |title = [[Union Budget of India]] | ||
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}} | }} | ||
The '''Union Budget of India | The '''2021 Union Budget of India''' was presented by the [[Minister of Finance (India)|Minister of Finance]] on the 1st of February, 2021. The budget is the first one to be presented orally due to ongoing COVID pandemic.<ref>{{cite web | url=https://www.businessinsider.in/budget/news/nirmala-sithraman-union-budget-2021-date-time-schedule-and-other-details-you-should-know/articleshow/80598178.cms | title=Union Budget 2021: Date, time, schedule and other details you should know | publisher=Business Insider | date=1 February 2021 | accessdate=1 February 2021}}</ref> | ||
== History == | == History == | ||
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There was huge speculation that government may increase tax rates to decrease its fiscal deficit so, there was a dip in [[BSE Sensex]] after touching the 50,000 marks other than that many economic journals also suggested introducing a new tax on High net worth individuals. The demand in the Indian market was low and the unemployment rate was very high so, the Budget has to Increase both the demand and new jobs.{{cn|date=June 2021}} | There was huge speculation that government may increase tax rates to decrease its fiscal deficit so, there was a dip in [[BSE Sensex]] after touching the 50,000 marks other than that many economic journals also suggested introducing a new tax on High net worth individuals. The demand in the Indian market was low and the unemployment rate was very high so, the Budget has to Increase both the demand and new jobs.{{cn|date=June 2021}} | ||
== | == Announcements == | ||
=== Healthcare === | === Healthcare === | ||
For healthcare, the allocated budget was increased by 137%, from {{INRConvert|94452|c}} to {{INRConvert| | For healthcare, the allocated budget was increased by 137%, from {{INRConvert|94452|c}} to {{INRConvert|223700|c}}. The budget proposes a program and scheme sponsored by Central Government called PM Aatmanirbhar Swasth Bharat Yojana was announced, which would focus on development of healthcare and establishing new institutions that would work in the field of detection and cure from new diseases, including the [[National Institution for One Health]]. Around {{INRConvert|64180|c}} would be spent spanning for 6 years in this program.<ref name="TOIkey">{{cite web | url=https://timesofindia.indiatimes.com/business/india-business/budget-2021-nirmala-sitharaman-highlights-two-key-features/articleshow/80632108.cms | title=Budget 2021: Nirmala Sitharaman highlights infra, health as two key features | publisher=Times of India | date=1 February 2021 | accessdate=4 February 2021}}</ref><ref>{{Cite web|last=Deshpande|first=Chaitanya|date=3 February 2021|title=With Rs 200 crore for NIOH, Nagpur set for another national institution|url=https://timesofindia.indiatimes.com/city/nagpur/with-rs-200cr-for-nioh-city-set-for-another-natl-institution/articleshow/80659217.cms|access-date=2021-06-04|website=The Times of India}}</ref> | ||
===Census=== | ===Census=== | ||
Nirmala Sitharaman confirmed in her budget speech that 2021 census will be first ever digital census in India.<ref>{{cite web|url=https://www.thehindubusinessline.com/news/2021-census-to-go-digital/article33718641.ece|title=2021 census to go digital}}</ref> The Finance Minister allocated {{INR}} 3,768 crore for carrying out the census in 2021 Union budget of India.<ref>{{cite web|url=https://www.indiatoday.in/business/budget-2021/story/budget-2021-census-to-go-digital-for-the-first-time-with-rs-3768-crore-allocation-nirmala-sitharaman-1764702-2021-02-01|title=Budget 2021: Census to go digital for the first time with Rs 3,768 crore allocation}}</ref> | Nirmala Sitharaman confirmed in her budget speech that 2021 census will be first ever digital census in India.<ref>{{cite web|url=https://www.thehindubusinessline.com/news/2021-census-to-go-digital/article33718641.ece|title=2021 census to go digital}}</ref> The Finance Minister allocated {{INR}} 3,768 crore for carrying out the census in 2021 Union budget of India.<ref>{{cite web|url=https://www.indiatoday.in/business/budget-2021/story/budget-2021-census-to-go-digital-for-the-first-time-with-rs-3768-crore-allocation-nirmala-sitharaman-1764702-2021-02-01|title=Budget 2021: Census to go digital for the first time with Rs 3,768 crore allocation}}</ref> | ||
===Cooperatives=== | |||
Sitharaman announced special provisions for the strengthening of [[cooperative]]s, which was ultimately taken up by setting up the [[Ministry of Co-operation]].<ref name="NDTV-Mishra-NewMin-21">{{Cite web|date=6 July 2021|first=Himanshu Shekhar|last=Mishra|editor-first=Harish|editor-last=Pullanoor|url=https://www.ndtv.com/india-news/new-ministry-of-cooperation-created-a-day-before-pms-cabinet-reshuffle-2480770|title=New "Ministry Of Cooperation" Created A Day Before PM's Cabinet Reshuffle|website=NDTV.com}}</ref> | |||
== Reception == | == Reception == | ||
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[[Category:Union budgets of India]] | [[Category:Union budgets of India]] | ||
[[Category:2021 in Indian economy]] | [[Category:2021 in Indian economy]] | ||
[[Category:2021 government budgets]] | [[Category:2021 government budgets|India]] | ||
[[Category:Modi administration]] | [[Category:Modi administration]] | ||
==Further reading== | ==Further reading== | ||
[https://www.prsindia.org/parliamenttrack/budgets/union-budget-2021-22-analysis PRS Legislative Research: Union Budget 2021-22 Analysis] | [https://www.prsindia.org/parliamenttrack/budgets/union-budget-2021-22-analysis PRS Legislative Research: Union Budget 2021-22 Analysis] | ||