• FM announces new health infra scheme with higher outlay of Rs 61,000 crore
• Rs 35,000 crores have been sanctioned for Covid-19 vaccine
• FY22 capital expenditure up +34.5% (Vs FY21 BE) at Rs 5.54 lakh crore.
• Highway infra work proposed include building 8,500-km of highways by March 2022.
• India to spend Rs 1.1 lakh crore for Railways in FY22
• FM proposes to consolidate provisions of SEBI Act, Depositories Act, Securities Contracts Regulation Act, Government Securities Act
• FDI limit in insurance increase to 74% from 49%.
• Govt allots Rs 20,000 crore for bank recapitalisation, as FM emphasizes the need to clean up banks’ books
• Divestment target for FY22 at Rs 1.75 lakh cr, FM says
• Government to privatise 2 PSU banks, one general insurance company in FY22
• Government to bring LIC IPO this year
• Government also proposes to reduce margin money requirement from 25% to 15% for start-ups.
• Minimum wages to now apply to all categories of workers. Women to be allowed to work in all categories with adequate protection.
• Rs 1,500 crore for promoting digital mode of payment
• 1st digital census in history of India soon
• FY21 fiscal deficit at 9.5% of GDP; FY22 fiscal deficit target at 6.8% of GDP
• Fiscal deficit will reach below 4.5% by FY26, says Sitharaman.
• Pensioners over 75 years of age are exempt from filing returns.
• Govt to set-up a faceless dispute resolution mechanism for small taxpayers.
• Govt to notify rules to eliminate double tax for NRIs on foreign retirement funds
• Govt to extend eligibility of erstwhile tax sop on home loan up to FY22
• Income tax return filers increased to 6.48 cr in 2020 from 3.31 cr in 2014
• FM proposes extension of tax holiday for start-ups by one more year.
• FM proposes to review more than 400 old exemptions in customs this year. To put into place new customs duty structure by Oct-1, 2021.
• Customs duty on Gold and Silver rationalised; Customs duty on certain auto parts increased
• No changes in Income tax slabs.
• Advance tax liability on dividend income to arise only after payment of dividend
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