Union Minister of Finance tabled the Union Budget for 2021-22 in Lok Sabha. This was the first digital or Paperless budget.

Highlights

  • Inclusive Development for Aspirational India
    • Agriculture
      • Ensured MSP at minimum 1.5 times the cost of production across all commodities.
      • The SWAMITVA Scheme to be extended to all States/Union territories.
      • The Operation Green Scheme to be extended to 22 perishable products, to boost value addition in agriculture and allied products.
      • 1000 more mandis to be integrated with the National Agricultural Market (e-NAM) to bring transparency and competitiveness.
      • APMCs (agricultural produce market committee) to get access to the Agriculture Infrastructure Funds for augmenting infrastructure facilities.
    • Fisheries
      • Five major fishing harbours – Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat to be developed as hubs of economic activity.
      • Multipurpose Seaweed Park in Tamil Nadu to promote seaweed cultivation.
    • Migrant Workers and Labourers
      • One Nation One Ration Card scheme (ONORCS) for beneficiaries to claim rations anywhere in the country – migrant workers to benefit the most.
      • Portal to collect information on unorganized labour force, migrant workers especially, to help formulate schemes for them.
      • Implementation of four labour codes underway:
        1. The Social security benefits for gig and platform workers too.
        2. Minimum wages and coverage under the Employees State Insurance Corporation applicable for all categories of workers.
        3. Women workers allowed in all categories, including night-shifts with adequate protection.
        4. Compliance burden on employers reduced with single registration and licensing, and online returns.
    • Financial Inclusion
      • Under Stand Up India Scheme for Scheduled Castes, Scheduled Tribes and women,
        • Margin money requirement reduced to 15 per cent.
        • To also include loans for allied agricultural activities.
  • Reinvigorating Human Capital
    • School Education
      • 15000 schools to be strengthened by implementing all National Education Policy 2020 components. Shall act as exemplar schools in their regions for mentoring others.
      • 100 new Sainik Schools to be set up in partnership with NGOs/private schools/states.
    • Higher Education
      • Legislation to be introduced to set up the Higher Education Commission of India as an umbrella body with four separate vehicles for standard-setting, accreditation, regulation, and funding.
      • Creation of formal umbrella structure to cover all Government colleges, universities, research institutions in a city for greater synergy.
      • Central University to come up in Leh for accessibility of higher education in Ladakh.
    • Scheduled Castes (SC) and Scheduled Tribes (ST) Welfare
      • 750 Eklavya model residential schools in tribal areas.
      • Revamped Post Matric Scholarship Scheme for welfare of SCs.
    • Skilling
      • Proposed amendment to Apprenticeship Act to enhance opportunities for youth.
      • Rupees 3000 crore for realignment of existing National Apprenticeship Training Scheme towards post-education apprenticeship, training of graduates and diploma holders in Engineering.
      • Initiatives for partnership with other countries in skilling to be taken forward, similar to partnership:
        • With United Arab Emirates to benchmark skill qualifications, assessment, certification, and deployment of certified workforce.
        • With Japan for a collaborative Technical Intern Training Programme to transfer skills, technique and knowledge.
    • Innovation and R&D
      • The National Language Translation Mission to make governance-and-policy related knowledge available in major Indian languages.
      • PSLV-CS51 to be launched by New Space India Ltd (NSIL) carrying Brazil’s Amazonia Satellite and some Indian satellites.
      • As part of the Gaganyaan mission activities:
        • Four Indian astronauts being trained on Generic Space Flight aspects, in Russia.
        • First unmanned launch is slated for December 2021.
      • Rupees 4000 crore over 5 years for Deep Ocean Mission survey exploration and conservation of deep sea biodiversity.

Budget 2021 Highlights of Inclusive Development Budget 2021 Highlights of Inclusive Development