Vijayawada *Late City Vol
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BANK STOCKS SPARKLE BHUBANESWAR RANCHI DEHRADUN VIJAYAWADA *LATE CITY VOL. 3 ISSUE 82 VIJAYAWADA, TUESDAY FEBRUARY 2, 2021; PAGES 12 `3 *Air Surcharge Extra if Applicable HEALTHCARE SPENDING DOUBLE { Page 02 } www.dailypioneer.com Govt raises For every rupee ITR filing not mandatory import duty on in govt kitty, 53 for senior citizens above parts of mobile paise to come 75 years, banks phones, chargers from taxes Full reports inside to deduct TDS 2020-COVID 2021-COVID CESS WHAT IS CHEAPER,WHAT IS COSTLIER NOW Gold and silver Imported auto Imported gems Leather goods parts Imported air- Govt imposes cess on petrol, diesel, gold, other items Nylon clothes Solar cells conditioner Iron, steel and Mobile phones and fridge PNS n NEW DELHI CHEAPER litre has been imposed on copper items COSTLIER and chargers compressors petrol and Rs 4 per litre on In a bid to boost agriculture diesel. infrastructure, the govern- Consequently, unbranded Rs 35K crore for ment on Monday announced petrol and diesel will attract a cess on certain items, basic excise duty of Rs 1.4, including petrol, diesel, gold and Rs 1.8 per litre, respec- and some imported agricul- tively. The SAED on Budget 2021: tural products. unbranded petrol and diesel Covid vaccine While proposing the shall be Rs 11 and Rs 8 per Agriculture Infrastructure litre, respectively. Similar PNS n NEW DELHI vaccine in the upcoming and Development Cess changes have also been made fiscal. The winners (AIDC), Finance Minister agricultural output efficient- for branded petrol and The government on Presenting the budget, Nirmala Sitharaman also ly, the minister said in her diesel. Monday proposed a bud- Finance Minister Nirmala said that care has been taken Budget Speech in Lok Sabha. The cess on import of 'gold get outlay of Rs 2,23,846 Sitharaman positioned not to put additional burden "To earmark resources for and silver' will be 2.5 per crore for health and well health and well being as and losers on consumers on most this purpose, I propose an cent, alcoholic beverages (100 being in 2021-2022, an one of the 6 crucial pillars items. Agriculture Infrastructure per cent), crude palm oil increase of 137 per cent of 'Atmanirbhar Bharat' There is an immediate and Development Cess (17.5 per cent), apples (35 per from the previous year, (Self-reliant India). Hospitals need to improve agricultural (AIDC) on a small number cent), 'coal, lignite and peat' with Rs 35,000 crore ear- IT Firms LOSERS infrastructure so that we of items. (1.5 per cent), fertilizers, marked for COVID-19 4 WINNERS Real estate & Bonds produce more, while also As per the Budget docu- including urea (5 per cent), Construction Exporters conserving and processing ments, AIDC of Rs 2.5 per and cotton (5 per cent). Metal makers Farmers/Rural State-run banks India Textiles Following are the highlights of the 2021-22 Budget presented by Finance Minister Nirmala Sitharaman in Parliament on Monday FISCAL POSITION AND HEALTH OUTLAY 22,217 CRORE FOR 42 * Spending on healthcare hiked by 137 pc to over Rs 2.23 lakh crore URBAN CENTRES WITH * Rs 35,000 cr outlay for COVID vaccine in fiscal beginning April 1 MILLION PLUS * Today India has 2 vaccines available, 2 more vaccines are expected soon POPULATION, * Sharp increase in capital expenditure for next fiscal to TO TACKLE BURGEONING Rs 5.54 lakh cr, up from Rs 4.39 lakh cr of last fiscal PROBLEM OF AIR * Fiscal deficit for current fiscal at 9.5 pc, against 3.5 pc budgeted POLLUTION * Fiscal deficit for next fiscal pegged at 6.8 pc, govt to borrow Rs 12 lakh cr * Committed to bring down fiscal deficit below 4.5 pc of GDP by 2025-26 - NIRMALA SITHARAMAN ‘National ALLOCATION AND REFORMS Monetization * FDI in insurance increased to 74 pc from 49 pc Pipeline launched’ * Disinvestment target pegged at Rs 1.75 lakh crore PNS n NEW DELHI * BPCL, IDBI Bank, two more PSU banks, one insurance company Expressing commitment to augment the country's to be privatised among others infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capi- * PSU Bank recapitalisation pegged at Rs 20,000 crore next fiscal tal expenditure to Rs 5.54 lakh crore in the next * Aatmanirbhar health programme with an outlay of Rs 64,180 cr to be introduced fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to * Budget proposals rest on 6 pillars-- health and well-being, achieve the goals of the National Infrastructure Pipeline (NIP). physical and financial capital and infra, inclusive development for aspirational India, Sitharaman said NIP, that was human capital, innovation and R&D, Minimum Government and Maximum Governance launched in December 2019 with 6,835 projects, has now been expand- * Govt to introduce a bill to set up development financial institution with an outlay of Rs 20,000 cr ed to 7,400 projects and around 217 * Voluntary vehicle scrapping policy to phase out old vehicles; fitness tests after yrs for personal vehicles projects worth Rs 1.10 lakh crore 20 under some key infrastructure min- * National monetisation pipeline for potential brownfield infrastructure assets istries have been completed. "For 2021-22, I propose a sharp * Rs 3,726 cr for forthcoming Census which will be the first digital census. increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said. NEW DELHI reliance) and addresses culture sector and and has a sense of real- Budget has all sections of the soci- boosting farmers' ity as well as a confi- Prime Minister ety, while keeping income. Villages and dence of development vision of Narendra Modi on farmers and villages at farmers are at its in it. It has the vision Monday hailed the its heart. heart," Modi said. of Aatmanirbharta' Voluntary vehicle self-reliance: Union Budget, saying "This Budget has a the Budget has been and addresses all sec- it has the vision of special focus on presented in extraordi- tions of the society, he PM Modi 'Aatmanirbharta' (self strengthening the agri- nary circumstances asserted. scrapping policy PNS n NEW DELHI Finance Minister Nirmala Sitharaman AP gets raw deal in on Monday announced the much- awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles. Union Budget 2021-22 Presenting the Budget for 2021-22 SNV SUDHIR parliament, there were almost no allo- in Parliament, Ms Sitharaman said n VIJAYAWADA cations to Andhra Pradesh in the that under voluntary vehicle scrap- Union Budget announced by the Govt handing over ongress leader Rahul India's assets to ping policy, personal vehicles would In a huge letdown the Centre has Union finance minister, Nirmala CGandhi hit out at the crony capitalists. undergo fitness test after 20 years meted out a raw deal to Andhra Sitharaman on Monday. India's assets to Centre on Monday following "Forget putting cash while commercial vehicles would Pradesh in the just-announced Union the presentation of the 2021- in the hands of people, Modi require it after completion of 15 years. Budget for 2021-22. Despite the rul- crony capitalists: 22 Union Budget, alleging government plans to han- said after the "It is to be notified, and will come ing YSRCP MPs helping the BJP-led 4 that the Narendra Modi gov- dover India's assets to his presentation of the Union into effect from 1st April, 2022," the NDA in passing key legislation in the Rahul ernment plans to handover crony capitalist friends," he Budget. statement had said. VIJAYAWADA | TUESDAY | FEBRUARY 2, 2021 BUDGET 2021-22 vijayawada 02 TRIVIA TRIVIA ¬ Morarji Desai has presented 10 Union Budgets in Parliament which is the highest by a single finance ¬ Railway and union budget was presented separately till 2017 minister followed by P Chidambaram with nine after which they merged into a single presentation. budgets ¬ In 2001, the then Finance Minister Yashwant Sinha changed it ¬ The word BUDGET is derived from 'bougette' which to 11 am. Until 2000, the budget was presented at 5 pm on means small bag in French. the last working day of February. ¬ The first ever Indian budget was presented by James ¬ In 2014, Arun Jaitley delivered the longest budget speech- 2.5 Wilson, a Scottish economist and politician in 1860. hours- in 2014. ¬ The first independent budget of India was presented ¬ Indira Gandhi was the first woman finance minister to present by RK Shanmukhan Chetty on November 26, 1947. the Budget in 1970 HEALTHCARE INDUSTRY WELCOMES INCREASED BUDGET ALLOCATION The healthcare industry welcomed the government's increased allocation for the healthcare sector and said that the move will provide access to medical care for all in the country, fuel job creation and boost economic momentum. Finance Minister Nirmala Sitharaman proposed Rs 2,23,846 crore budget outlay for health and well-being for 2021-22, compared to Rs 94,452 crore in the current fiscal, registering an increase of 137 per cent. Sitharaman has also proposed Rs 35,000 crore outlay for COVID-19 vaccines for the next fiscal and announced the rollout of pneumococcal vaccines across the country to help save over 50,000 deaths annually. "I have provided Rs 35,000 crore for COVID vaccines for 2021-22. I commit to provide further funds if required," the Finance Minister said while presenting the Budget for 2021- beverages, coal and agri products ranging March 31, 2022.