Page 23 - Budget 2021

'Promise and hope': Read and download all Budget 2021 documents here

Among other measures, Finance Minister Nirmala Sitharaman proposed doubling of healthcare spending and lifted caps on foreigners investing in the vast insurance market to help revive the economy

Budget has vision of 'self-reliance'; Villages, farmers at its heart: Modi

Prime Minister Narendra Modi on Monday hailed the Union Budget, saying it has the vision of 'Aatmanirbharta' (self reliance)

Was FM's Budget like 'never seen before'? Here's what D-Street mavens say

The FM has delivered a unique Budget, wherein all the right measures have been proposed to speed up growth, said Dhiraj Relli, MD & CEO at HDFC Securities

Reactions of industrialists on FM Sitharaman's budget for fiscal 2022

Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in Parliament. Following are the reactions of industrialists to budget proposals: Vedanta Resources Executive Chairman Anil Agarwal tweets: "Congratulations to @narendramodi and FM @nsitharaman for a very reformist #Budget2021 with many big ideas including strategic disinvestment of two public sector banks & one insurance company. Thrust on infrastructure will boost growth." Mahindra Group Chairman Anand Mahindra tweets: "In a time of unprecedented economic stress, the Govt's responsibility was to spend enough to revive the economy or else face enormous human suffering. So I had one expectation from this budget: that we should be very liberal in terms of the targeted fiscal deficit. Box ticked." RPG Enterprises Chairman Harsh Goenka tweets: "Combination of Pujara & Pant innings - consistency and flamboyance! Steady focus on infra, commercial laws, ease of business with big shots of monetising PSU ..

For every rupee in government kitty, 53 paise to come from taxes

36 paise from borrowings and other liabilities for every rupee in the government coffer

Govt to set up asset reconstruction company, AMC to manage NPAs

Finance Minister Nirmala Sitharaman on Monday proposed setting up of an asset reconstruction company and an asset management company (AMC) to clean up non-performing assets in the banking sector. The new entities will help effectively deal with non-performing assets (NPAs) which may see a surge once regulatory forbearance to deal with the impact of COVID-19 is withdrawn. The high level of provisioning by public sector banks for their stressed assets calls for measures to clean up the bank books, the finance minister said while unveiling the Budget for 2021-22. "An Asset Reconstruction Company Limited and Asset Management Company would be set up to consolidate and take over the existing stressed debt and then manage and dispose of the assets to Alternate Investment Funds and other potential investors for eventual value realization," she said. Provision Coverage Ratio in most of the banks is over 80 per cent, which means that the lender has made a provision of 80 per cent against ...

Govt lowers loan limit for debt recovery for NBFCs with Rs 100cr asset size

FM Sitharaman brought down the value of loans that can be introduced for debt recovery under the SARFAESI Act to Rs 20 lakh from Rs 50 lakh for NBFCs having a minimum asset size of Rs 100 crore.

Budge 2021: Goa CM hails Rs 300 crore allotment to mark Independence

Goa Chief Minister Pramod Sawant thanked PM Modi and Union Finance Minister Nirmala Sitharaman for allocating Rs 300 crore in the Union Budget to mark 60 years of the state's Independence.

India slashes basic import duty on crude palm oil to 15% from 27.5%

India cut the basic import duty on crude palm oil (CPO) to 15% from 27.5% earlier, Finance Minister Nirmala Sitharaman said on Monday

Union Budget: 'Atmanirbhar Bharat ka budget', says MP CM Chouhan

Chouhan on Monday said the budget would create job opportunities and fuel growth

Govt reduces customs duty on certain steel items to provide relief to MSMEs

The government looks to provide relief to MSMEs which have been hit hard by high cost of raw materials

Budget 2021 boosts financials; ICICI, IndusInd, IDBI Bank jump over 10%

Finance Minster made various announcements including increase in FDI limit in the insurance sector, recapitalisation and privatisation of select PSU banks

Public-private partnership mode for operational services at major ports: FM

FM said major ports will move from managing operational services on their own to a model where a private partner will operate it for them

Budget 2021 alters levies on auto fuels: agri cess in, excise pruned

Sale price of auto fuels to remain unaffected

Govt to amend Apprenticeship Act to enhance opportunities for youth: FM

Govt on Monday proposed to amend the Apprenticeship Act and realign the National Apprenticeship Training Scheme

Budget: India to set up bad bank to manage record levels of soured debt

The firm will hold problem loans for banks, which can then be sold on to investors at a reduced price, according to plans outlined by Finance Minister Nirmala Sitharaman in a budget speech on Monday

Budget share of capital expenditure highest in decade, aims for investments

Public spending push is expected to help push growth after pandemic slowdown in investments

Govt proposes Rs 1,000 cr for welfare of tea workers in Assam, West Bengal

The government on Monday proposed to provide Rs 1,000 crore for the welfare of tea workers in two poll-bound states - Assam and West Bengal. In the first paperless Union Budget, Finance Minister Nirmala Sitharaman said that a special scheme will be devised for the same. "I propose to provide Rs 1,000 crores for the welfare of tea workers especially women and their children in Assam and West Bengal," she said while presenting the Union Budget 2021-22. West Bengal and Assam are the two big tea producing states in the country.

Budget 2021 lays out road map for overhaul of state-run companies

The policy classifies central public-sector companies, banks and insurance companies into four strategic areas

Govt extends eligibility for claiming tax holiday, capital gains exemption

The government on Monday proposed extension of the eligibility for claiming tax holiday and capital gains exemption for investment in startups till March 31, 2022