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    BUDGET 2021HIGHLIGHTS

    Without further delay, here are the key highlights from the union budget 2021.
    • Power sector to receive ₹3.05 lakh crores: According to Finance Minister Nirmala Sitharaman, ₹3.05 lakh crores is to be set aside for the power sector within the country. The Finance Minister also added that a hundred more cities will be added to the Gas distribution network in the next three years.
    • Jammu and Kashmir Gas pipeline project: A new gas pipeline project will undergo development in Jammu and Kashmir.
    • ₹20,000 crores for Public sector banks: A further infusion of ₹20,000 crores into public sector banks was announced by Finance Minister Nirmala Sitharaman.
    • LIC IPO to launch this year: LIC or the Life Insurance Corporation of India (LIC)’ will receive a part of the governmental holdings in the form of an IPO later this year. The existing act will see an amendment to facilitate the public offer.
    • Government committed to farmers’ welfare: Amid the protest from opposition leaders, Finance Minister Nirmala Sitharaman stated that "The government is committed to the welfare of farmers. The MSP has gone through a sea change. Over Rs. 75,000 crore paid to wheat farmers in the years 2020–21; 43.36 lakh farmers have benefited from this."
    • Government to push Ujjawala scheme: Benefits of the Ujjawala scheme will be extended to an additional 1 crore people by the government. With a financial subsidy from the central government, the Ujjawala scheme provides LPG connections from the central government. Currently, the scheme benefits about 12 crore households but can be further extended to provide cheap and clean cooking fuel.
    • Mission Poshan 2.0: Mission Poshan 2.0 known as the ‘Jal Jeevan Mission Urban’ will be launched by the finance minister. This urbanized Swachh Bharat Scheme is to be implemented with an outlay of over ₹1.4 lakh crore.
    • Vehicle Scrapping Policy: A vehicle scrapping policy has also been launched by the government which will remove any outdated or unfit from the streets. Passenger vehicles that are over 20 years old and commercial vehicles that are over 15 years old are required to go through a vehicle fitness test.
    • Agriculture credit target to ₹16.5 lakh crores: An increase in the agricultural credit target has been proposed to target ₹16.5 lakh crores. According to Finance Minister Nirmala Sitharaman, the MSP regime has seen a change that will assure a price that is at least 1.5 times the production cost across all commodities. The gross amount paid to farmers surged to ₹1.72 lakh crores in 2020–21.
    • Disinvest target for FY2022 at ₹1.75 lakh crores: Disinvestment receipts were placed at ₹1.75 lakh crores as per the union budget 2021. One general insurance company and two PBs are to be disinvested, with amendments and legislation to be introduced in this session.
    • Reception of National education policy: According to the Finance Minister Nirmala Sitharaman, the “National Education Policy: had a good reception. More than 15,000 schools were qualitatively strengthened as per this National Education Policy.
    • Exemption for filing tax for elderly: According to Finance Minister Nirmala Sitharaman, the compliance burden on senior citizens will be reduced in the 75th year of independence of our country. For those senior citizens who only have an interest income and a pension, she is proposing an exemption of filing one’s income tax returns.

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      ICICI Bank, SBI

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      M&M, Ashok Leyland

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      L&T, KNR Construction, Oberoi Realty

    • Cement/Metals

      Ultratech, JK Cement, SAIL, Hindalco