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The new hot topic in town is the Indian Union budget that was announced yesterday that is on the 1 Feb 2021; by none other than the finance minister Nirmala Sitharaman herself. The budget for this year is something almost all the citizens of the country were waiting for. One can say that Budget has always been an important topic but this year it was extra special and the audience was more curious as after the pandemic due to the lockdown that was implemented all over the country the economy of the country suffered a serious downfall. This serious downfall in the economy is being a matter of concern for the people.
Also, the medical emergency that suddenly surfaced last year came as a huge challenge for the medical facilities and setups in the country. So, this time the budget has been very well focused on the development and advancement of the medical field. Other than that there are some more fields that have been seen significantly provided focus in the recent budget that has been passed. The whole budget would be troublesome and also would be confusing to be discussed in a few words. So, here we will just be making it easy for all people to understand and will be taking a note of all the important highlights related to the union budget 2021.
- Neat and clean environment: The budget this year has been focused on a neat and clean environment, from the budget a huge amount of Rs 2,217 crore, the amount has been sanctioned for 42 urban centers. Other than that it has also been announced that 4,400 crores will be given to the cities above 1 million population.
- Vehicle Scarping Policy: In the 2021 budget there was also discussion of a new policy addition that is regarding the vehicle scrap policy. As per the policy, personal vehicles more than 20 years old, and commercial vehicles more than 15 years old will have to undergo the fitness test. This will further promote fuel efficiency and environmental friendliness in the vehicles Nitin Gadkari further said that the ministry would be issuing the policy in the next 15 days.
- Investment and asset monetization: The budget of 2021 for India has been designed in a way that investment has been kept as the top priority.
- Reduction in the pension Budget: There has also been a significant reduction in the pension; this can be taken as the effect of the downfall in the economy of the country.
- FDI Hike: The FDI or Foreign Direct investment will be given a hike of up to 74%
- Covid Vaccine: In the union budget 2021 COVID is not something that one can avoid this is the most serious issue that has to be looked after. From this budget of the year 2021, an amount of 35000 cr has been sanctioned towards the production and distribution of the vaccine in the whole country. One of the Vaccines for fighting against the deadly disease is already out other than that two more vaccines are yet to arrive.
- Railway Funds: A huge fund of 80,000 Crores has been passed in the budget for the development and advancement of the railway department.
- Public bus: Talking regarding the funds allocated for the public bus services, it has to be noted that there is a fund of 18000 Crore allocated for that.
So, these are all the important things that one needs to note regarding the union budget, as we move towards the conclusion of this we can say that all one can hope is more prosperity and development of the country at a rapid pace.
