Union Budget 2021

Hello readers! In this blog I will be sharing my views on Union Budget 2021, go ahead and do share your reviews. 

Before starting I would like to describe what is Union Budget ? Union Budget of India also referred to as the Annual Financial Statement in article 112 of the constitution of India is the annual budget that the government of India presents on the first day of February to provide the estimated receipts and expenditures for the financial year. 

This was the first time when a Union Budget was presented digitally via a tablet.  The government announced a 2.2 lac crore fund for the health sector although a huge capital will be spent on the Covid-19 vaccine, so this doesn't seem to be included in every year's budget. I liked the idea of bringing in a new scheme called PLI( Production Linked Incentive) which insinuates that there will be more startups and some more relaxation in tax when the products are exported and the best thing about the scheme is that the companies will be included in the tax holiday scheme as well which means the startups won't have to pay taxes for initial 2-3 years, isn't that tempting? India has encouraged the cloth and the agriculture industry as these two generate the highest employment for the country also it's looking clear that the government is working on reducing unemployment as they have included 2 lakh companies in the MSME this year. The FDI is continued in the Insurance sector but the irony is that Modi Ji was against Foreign Direct Investment when the government was of Congress and it's diplomatic that they have increased the limit to 74% although RSS is still not in the favor of it, according to me FDI is necessary for every country even China has developed rapidly because they received investment from almost from the whole world. 

The new scheme for NPA for an amount of more than Rs20 lakh is a wonderful decision to stop absconding and scams and I appreciate the decision of fixing a threshold amount of Rs5 lakh on the banks that may shut down. The proposal for allowing citizens to opt for their electricity providers is a brilliant idea, the goons will have to suffer as they will not be to imply fake charges. 

The idea of increasing the expenditure is quite amazing as 40 lakh crore for expenditure will boost the infrastructure and Mrs. Sitharaman showcased her confidence which is appreciated. My favorite minister in the Modi Cabinet is Nitin Gadkari, he has done a phenomenal job in taking the infrastructure of the country to a higher level the budget notifies that an 8500km expressway will be made and the target will be 22km/day, as I am talking about my favorite I am very happy that the chances that Air India will be sold to Sir Ratan Tata are 90% and I am just hoping for the best. Selling some shares of government-owned companies is also important because to spend 40 lakh crore the government will have to make some profits as well. Overall it will be a good balance. 

There are several more good decisions like giving railway properties on lease which were not used for a long time, light metro for small towns to reduce time, converting railways into 100% electric railways, private vehicles more than 20 years of age, and commercial vehicles of more than 15 years will be converted into scrap, this will eventually increase the demand of new vehicles and boost the economic sector. 

Now talking about the cons, why did they increase the price of solar panels? it will discourage the buyers and consumers. Farmers are already not happy with the new bill and then the government has increased the rate of tax on urea. 

And what did they were even thinking of when they decreased the budget for education for the previous year it was 99000cr and for this year it is 93000cr. 

Modiji is clearly scared of Arvind Kejriwal's pace of development , the budget for Delhi is 325 crore, are you serious is that even a budget for the capital of India? Delhi is the place where most of the investors come, you have to think of par politics, 4200 crore was the fund for Kumbh, that was to showcase India at its best and I completely agree with it but why not to Delhi government? But I am sure Kejriwal will do the best and give an unbelievable result this year as well. 

Farmer's protest is at the peak, and at this time the MSP for sugarcane is Rs3.5 kg. It takes around 10 months to harvest sugarcane and it is sold at Rs3.5kg. Wow! 

In conclusion, the budget is good but the government could have focused on education and farming sectors as well.