Customs - FM announces Agri Infra Cess on certain items + prescribes definite timeline for completing investigations
Customs duty on mobile hiked to 2.5% + exemption granted to import of steel scrap + duty reduced on copper scrap + duty on Naptha reduced + Duty on gold & silver rationalised + Duty on solar inverters and lanterns hiked + duty hiked on auto parts + 10% duty imposed on cotton Customs - 400 old exemptions to be withdrawn + New duty architecture to be notified GST - FM promises to remove anomaly of inverted duty structure
FM announces tax exemption for capital gains by aircraft leasing companies + Ambit of pre-filled return forms expanded + relief to small charitable bodies + Late deposit of social security deductions not to be allowed under I-T Act FM extends affordable housing benefits by one more year + Projects also get one more year + tax exemption granted to rental housing projects FM announces Dispute Resolution Committee with a cap of Rs 10 lakh + to set up Faceless Income Tax Appellate Tribunal + grants relief to NRIs + hikes limit for tax audit to Rs 10 Cr + advance tax liability on Dividend to arise only after declarations
Income tax - Relief to Senior citizens above 75 years - No return-filing if only interest and pension income + Time limit for re-opening of assessment reduced to 3 years from 6 yrs + introduces threshold for extended time period Govt accepts recommendations of 15th Finance Commission
Contingency Fund of India - Threshold raised from Rs 500 Cr to Rs 30,000 Crore
Govt expects 9.5% fiscal deficit in current fiscal + pegs 6.8% for next fiscal Govt expects 9.5% fiscal deficit in current fiscal India to go for digital census with Rs 3700 Cr budget Govt to launch Rs 4000 Cr deep-ocean scheme
FM announces Rs 50K Crore for National Research Foundation for 5 years + Rs 1500 Cr fund for promoting digital mode of payment Govt to set up Central Univ in Leh + to enact higher education commission law
Govt to launch national portal for gig and migrant workers Govt to consolidate centrally-sponsored schemes + to set up separate administrative structure for cooperatives FM estimates Rs 1.75 lakh crore receipts from monetisation
Govt to disinvest in all non-strategic PSUs; Only 4 CPSEs to be kept in strategic sector + Surplus land to be monetised NCLT framework to be toned up + Special regime for MSME to be notified Incentive to Startup - One-person company can now convert into any format of company
Companies Act - Threshold for LLP hiked to Rs 2 Crore FM earmarks Rs 20,000 Crore for bank recapitalisation
New companies to be set up to take over all stressed assets of banks
FM proposes Investors' Rights Charter + hikes FDI limit to 74% for Insurance Sector Govt to codify market-related regulations & laws into single code
FM announces Hydrogen Green Energy Mission Govt to release framework to promote competition among DISCOMS
Govt earmarks Rs 1.55 lakh Crore to the Railways
FM announces more economic corridors in TN, Kerala, West Bengal & Assam
FM earmarks Rs 5.54 lakh crore as capital expenditure for 2021-22
Asset Monetisation Dashboard to be set up for tracking operations
Development Financing Institution to be set up to fund infra projects PLI Scheme gets Rs 1.97 lakh crore for 13 sectors; Textile to get addl resources
FM announces vehicle scrapping policy - 20 years for personal & 15 years for commercial vehicles Govt to set up five regional units for National Disease Control
Atma Nirbhar Bharat - Rs 64880 Cr earmarked for PM Health Yojana in addition to National Health Mission
India to add two more COVID-19 vaccines to kitty soon
Budget Speech begins amidst high-decibel noise by Opposition MPs
IGI Airport Customs nabs two Afghanis with 208 heroin-stuffed capsules worth Rs 11.5 Crore
Union Budget - Max Fund Allocation - Modi Govt to keep pedal on metal of Atma Nirbhar Bharat
Budget 2021 to mark 30th Anniversary of Economic Reforms & 161st Anniversary of Budget Speech
Bloodless coup - Democracy dies again in Myanmar - Army, in wee hours operation, arrests Suu Kyi, President Win Myint and about a dozen CMs of States
Putin Govt arrests over 5000 protesters demanding Opposition leader Navalny's release
WHO, Navalny & Thunberg nominated for Nobel Peace Prize
Govt releases SOP; Cinema halls can now operate with full capacity
COVID-19: Death toll rises to 4.5 lakh in US + close to 2.25 lakh in Brazil + 1.58 lakh in Mexico + 1.06 lakh in UK
China's HNA Group discloses over USD 9.5 billion defalcated by shareholders
Moradabad road accident - PM announces ex-gratia payment of Rs 2 lakh each for victims' families
UAE amends law to offer citizenship to professionals and investors |
