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Union Budget 2021: Live Updates, Live News

The duration of the budget speech usually ranges from 90 to 120 minutes. This year, the Union Budget will be delivered in paperless form for the first time.

Photo Credit : (Courtesy: ANITwitter)

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Union Finance Minister Nirmala Sitharaman on Monday morning reached the Ministry of Finance in the North Block, ahead of presenting the Union Budget 2021-22 in the Parliament.

MoS Finance and Corporate Affairs Anurag Thakur has also arrived at the Ministry of Finance.

The Budget presentation will begin with a speech from Finance Minister scheduled to take place at around 11 am. The duration of the budget speech usually ranges from 90 to 120 minutes.
This year, the Union Budget will be delivered in paperless form for the first time.

12:47 PM

01 February, 2021

To further reduce litigation for small taxpayers I propose to constitute a dispute resolution committee which will be faceless to ensure efficiency, transparency. Anyone with a taxable income up to Rs 50 Lakhs & disputed income up to Rs 10 Lakhs eligible to approach committee: FM

12:47 PM

01 February, 2021

The fiscal deficit in 2021-22 is estimated to be 6.8% of the GDP: Finance Minister Nirmala Sitharaman

12:47 PM

01 February, 2021

Fiscal deficit in 2020-21 pegged at 9.5% of GDP. We would need another Rs 80,000 crores for which we would be approaching the market in these two months: FM Nirmala Sitharaman

12:41 PM

01 February, 2021

Incentives for startups:  Propose to extend eligibility to claim tax holidays by 1 more year.
To Extend capital gains by 1 more year for investing into startups.

12:40 PM

01 February, 2021

Pre-filling of tax returns : Details of capital gains from listed securities, dividend  income, Interest from bank deposits and post offices to be pre-filled from now.

12:38 PM

01 February, 2021

Affordable rental housing to be developed. Tax exemption to be given to notified affordable rental projects.

12:38 PM

01 February, 2021

For accessible higher education in Ladakh. I propose to set up a central university in Leh: Finance Minister Nirmala Sitharaman.

12:37 PM

01 February, 2021

Attracting foreign investors into infra sector is a focus.
Issue of zero coupon bonds to be allowed for eligible notified entities.

12:35 PM

01 February, 2021

Advance tax on Dividend income liability will now be applicable only AFTER dividend is announced.

12:32 PM

01 February, 2021

“Tax system to be transparent, efficient and promote employment in the country.”

Presently assessment can be reopened for 6 years. The budget reduces this time period to 3 years.

12:27 PM

01 February, 2021

To further extend efforts towards unorganised labour force, I propose to launch a portal to collect relevant information on gig workers, building/construction workers among others. It'll help formulate health, housing, skill, insurance credit &food schemes for migrant workers: FM

12:27 PM

01 February, 2021

Social security benefits will be extended to gig and platform workers. Minimum wages will apply to all categories of workers. Women will be allowed to work in all categories and also in night shifts with adequate protection: FM Nirmala Sithraman.

12:26 PM

01 February, 2021

Union Budget: Voluntary vehicle scrapping policy announced to phase out old vehicles

12:26 PM

01 February, 2021

Union Budget: Mega Investments Textile Parks scheme to be launched to create world-class infra

12:26 PM

01 February, 2021

I am proposing substantial investments in the development of modern fishing harbours & fish landing centres. 5 major fishing harbours - Kochi, Chennai, Visakhapatnam, Paradip and Petuaghat will be developed as hubs for economic activities: FM Nirmala Sitharaman.

12:25 PM

01 February, 2021

We have launched one nation, one ration card scheme through which beneficiaries can claim their rations anywhere in the country. Migrant workers in particular benefit from scheme. One nation, One ration card plan is under implementation by 32 states & UTs: FM Nirmala Sithraman.

12:21 PM

01 February, 2021

Fiscal position: To make up for Rs 80,000 cr fiscal deficit funding shortage, govt expected to hit debt markets to borrow in next 2 months

12:21 PM

01 February, 2021

I propose to amend the Insurance Act 1938 to increase the permissible FDI limit from 49% to 74% in insurance companies and allow foreign ownership & control with safeguards: Finance Minister Nirmala Sitharaman.

12:17 PM

01 February, 2021

Upcoming census 2021 could be the first digital census in history of India. Probably in the world !!

12:17 PM

01 February, 2021

Min govt - max governance: National commission for allied healthcare professionals bill - to regulate 56 allied health care professionals.

National nursing bill to be presented.

Contractual disputes to be fast tracked with new reforms.

12:14 PM

01 February, 2021

National education policy (NEP): 100 new Sainik Schools to be setup.

Formal umbrella structure for bringing in development of already existing institutions. And with autonomy.

12:09 PM

01 February, 2021

Ujjwala scheme will be expanded to over 1 crore more beneficiaries. We will add 100 more districts in the next three years to the city gas distribution network. A gas pipeline project will be taken up in Jammu and Kashmir: Finance Minister Nirmala Sitharaman.

12:08 PM

01 February, 2021

Social security benefits to cover gig economy and platform service workers.
ESiC to cover them too. Reduced compliance to make ease of doing business for such companies with single window digital clearance.

12:06 PM

01 February, 2021

Agricultural infrastructure fund to be made available to APMCs to augment their infra.

Many enhanced outlay announced for AGRI, fishing , animal husbandry.

Rivers and water ways to be used for fishing development.

11:59 AM

01 February, 2021

Agriculture: MSP regime has undergone change to assure pricing with adequate safety net.
Procurement to continue growth.

In wheat, total amount paid to farmers in 2013-14 was Rs 33,000 cr.

2019-20, it was Rs 63,000 cr

2020-21 was Rs 75,000 cr

Number of wheat growing farmers benefited was 43.5 Lakh farmers.

11:57 AM

01 February, 2021

Government finance reforms: TSA system to be extended for universal application. 15th finance commission’s recommendation to rationalise and reduce centrally sponsored schemes will be taken in.

11:54 AM

01 February, 2021

IPO of LIC to be done in the upcoming fiscal.

Strategic disinvestment of CPSE  cabinet has approved the plan.

Niti Aayog to work on the list of strategic disinvestments.

Union govt to encourage states to also disinvest non-strategic state enterprises.

11:51 AM

01 February, 2021

Startsups to be incentivised by allowing 1-person company (OPCs) without restriction of ownership; residency limit for Indians to reduce from 180 to 120 days. NRIs can also set up OPCs

11:50 AM

01 February, 2021

The pneumococcal vaccine, limited to only 5 states at present, to be rolled out across the country. This will avert more than 50,000 child deaths annually: Finance Minister Nirmala Sitharaman

11:50 AM

01 February, 2021

For a 5-trillion dollar economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains: Finance Minister Nirmala Sitharaman

11:49 AM

01 February, 2021

Indian Railways has prepared a National Rail Plan for India 2030. The plan is to create a future-ready railways system by 2030 - bringing down logistic cost for industry is at the core of a strategy to enable Make in India: Finance Minister Nirmala Sitharaman

11:49 AM

01 February, 2021

I have provided Rs 35,000 crores for #COVID19 vaccine in this year 2021-22. I am committed to provide further funds if required: Finance Minister Nirmala Sitharaman

11:49 AM

01 February, 2021

For NBFCs with min asset size of Rs 100 cr, sarfeasi act to help them even in cases of Ra 20 lakhs of recovery (from current 50 lakhs)

11:48 AM

01 February, 2021

FD insurance to be increased from Rs 1 lakh to Rs 5 lakh

11:47 AM

01 February, 2021

FDI in insurance to increase from 49% to 74% while 50% of directors have to be independent directors (resident Indians)

11:47 AM

01 February, 2021

Fintech hub to be scaled in GIFT city.

Permanent institutional framework to purchase stressed bonds to kick start bond market development.

Sebi will be the regulator for warehousing / commodities market including vaulting.

Non conventional energy sector will benefit from equity infusion to the institutions.

11:45 AM

01 February, 2021

Over 13,000 km length of roads at a cost of Rs 3.3 lakh cr has already been awarded under Rs 5.35 lakh cr Bharatmala project of which 3,800 kms have been constructed. By March 2022 we'd be awarding another 8,500 & complete an additional 11,000 kms of National Highway Corridor: FM

11:42 AM

01 February, 2021

A new centrally sponsored scheme PM Atmanirbhar Swasth Bharat Yojana will be launched with an outlay of about 64,180 crores over 6 years: Finance Minister Nirmala Sitharaman.

11:40 AM

01 February, 2021

Power infrastructure: To revamp power distribution sector with equity infusion of over Ra 3 lakh crore over 5 years. To use : Smart metering & Feeder separation. To tie equity grants to efficiency improvement

11:40 AM

01 February, 2021

Infrastructure development is a key thrust for this government .... seems to be the theme with these announcements... budget also proposes schemes in key states for developing infra corridors .. hope markets see it without any political angle

11:39 AM

01 February, 2021

The proposals announced for healthcare, Swachh Bharat and Swasth Bharat, and the vehicle scrapping plans showcase that government is thinking of long term. They have not just earmarked it for this financial year but have thought it ahead for next 5-6 years.

11:39 AM

01 February, 2021

For enhanced National Infrastructure Pipeline (NIP), govt proposes launching a DEvelopment finance Institute immediately. And to look at Rs 5 lakh crore capital infusion over next 3 years.

11:39 AM

01 February, 2021

To enhance the thrust in monetising govt assets: NHAI & PGCIL will take lead

Railways will monetise dedicated freight corridor assets.

Next lot of airport franchises to be monetised

Oil pipelines monetisation to happen.

Central warehousing corporation , sports stadiums will be monetised.

11:38 AM

01 February, 2021

Roads and highways : another 8500 kms of such projects to be handed over And other large scale projects for enhancing railways to world class system over next few years.

High density network routes of railways will be provided with indigenously developed preventive safety measure to avoid collisions

11:34 AM

01 February, 2021

For 2021-22, I propose a sharp increase in Capital Expenditure & thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE 2020-21: FM Nirmala Sitharaman

11:31 AM

01 February, 2021

The Budget proposals for 2021-12 rest on six pillars —health & well-being, physical & financial capital & infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation & R&D, Minimum Govt & Maximum Governance: FM Nirmala Sitharaman

11:26 AM

01 February, 2021

India now has one of the lowest #COVID19 death rates of 112 per million population and one of the lowest active cases of about 130 per million. This has laid the foundation for the economic revival we see today: Finance Minister Nirmala Sitharaman in Parliament

11:25 AM

01 February, 2021

Only three times has the Budget followed a contraction in the economy. This time, unlike before, the situation is due to a global pandemic. Budget 2021 provides every opportunity for economy to capture pace and grow sustainably: FM Nirmala Sitharaman

11:20 AM

01 February, 2021

This Budget will be the first of this new decade. Budget 2021 will also be a digital budget: Finance Minister Nirmala Sithraman

11:20 AM

01 February, 2021

I borrow the words from Rabindranath Tagore, "Faith is the bird that feels the light and sings when the dawn is still dark". In this spirit, I can't help but recall the joy that we as a Cricket loving nation felt after Team India's recent spectacular success in Australia: FM

11:18 AM

01 February, 2021

The Government stretched its resources for the benefit of the poorest of the poor. The PM Garib Kalyan Yojana, the three Aatma Nirbhar Bharat packages and subsequent announcements were like five mini-budgets in themselves: FM Nirmala Sitharaman

11:13 AM

01 February, 2021

In May 2020, Govt announced the Atmanirbhar Bharat package, to sustain the recovery further we also rolled out two more Atmanirbhar packages. Total financial impact of all packages including measures taken by RBI was estimated to be about Rs 27.1 lakh crores:FM Nirmala Sitharaman

11:12 AM

01 February, 2021

This budget will be the first of the new decade, and also a digital budget. Earlier contractions were typical to situations specific to India, this time it is because of a global pandemic; this budget equips our economy for growth: FM Sitharaman

11:12 AM

01 February, 2021

Today India has two vaccines available; is safeguarding not only her own citizens but also over a 100 more countries. We are ever grateful to our scientists: FM Sitharaman says fight against Covid continues into 2021

11:08 AM

01 February, 2021

The preparation of this Budget was undertaken in circumstances like never before, in view of calamities that have affected a country or a region within a country. But what we have endured with COVID-19 to 2020 is Sui generis: FM Nirmala Sitharaman

11:02 AM

01 February, 2021

FM Nirmala Sitharaman presents Union Budget 2021-22

10:59 AM

01 February, 2021

Union Cabinet approves the #UnionBudget 2021-22 that will be presented by Finance Minister Nirmala Sitharaman in the Parliament.

10:59 AM

01 February, 2021

Lok Sabha Speaker Om Birla arrives at the Parliament. #UnionBudget 2021-22 will be presented in the House today.

10:26 AM

01 February, 2021

BJP MP Hema Malini arrives at the Parliament.  Union Budget 2021-22 will be presented in the House today.

10:22 AM

01 February, 2021

Union Cabinet's meeting begins ahead of the presentation of #UnionBudget 2021-22 by Finance Minister Nirmala Sitharaman at the Parliament today.

10:13 AM

01 February, 2021

Finance Minister Nirmala Sitharaman and MoS Finance & Corporate Affairs Anurag Thakur arrive at the Parliament.

10:04 AM

01 February, 2021

Delhi: Union Home Minister Amit Shah and Union Health Minister Dr Harsh Vardhan arrive at the Parliament.

10:04 AM

01 February, 2021

Delhi: Finance Minister Nirmala Sitharaman and MoS Finance & Corporate Affairs Anurag Thakur arrive at the Parliament.

09:57 AM

01 February, 2021

Finance Minister Nirmala Sitharaman, MoS Finance & Corporate Affairs Anurag Thakur and senior officials of the Ministry of Finance, called on President Kovind at Rashtrapati Bhavan before presenting the #UnionBudget 2021-22. 

09:39 AM

01 February, 2021

Sitharaman replaces Swadeshi 'bahi khata' with tablet as Union budget goes digital

09:23 AM

01 February, 2021

Finance Minister Nirmala Sitharaman will present and read out the #UnionBudget 2021-22 at the Parliament through a tab, instead of the traditional 'bahi khata'.


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