Union Budget for 2021: Senior Citizen Income Tax Exemption, LIC IPO in 2022, 2 public sector banks to be repealed


Overview of union Budget , Present Nirmala Sitraman
Overview of union Budget , Present Nirmala Sitraman 

Union Budget 2021 Aa

Union BudgetUnion Budget 

–  Following are key moments from the announcement made by Nirmala Sitaraman during the 2021 Union budget.

Nirmala Sitaraman announced the Union budget for 2021 at the Lok Sabha.

During the 2021 Union budget on Monday, Finance Minister Nirmala Sitaraman announced various measures, including in the health sector, rail transport and road infrastructure.

In survey-bound countries such as West Bengal and Tamil Nadu, major investments have been made in road and metro infrastructure.

Sitaraman said that budget preparation had never happened before because of Covid-19. “We could not imagine last year that the global economy, which was already suffering, would have to lose loved ones to the pandemic,” he said.

Sitaraman said the government has expanded its resources to cover all areas of life.

This budget is the first of its kind with restrictions for Covid-19. Even Bahi Khata was digitizing when Sitharaman brought a tablet made in India, which fulfilled the government’s request for Atmanirbhar Bharat.

The Minister of Finance said there are six pillars of the budget – health and welfare, physical and financial capital and infra-inclusive development, human capital, innovation and research and development, minimum governance, maximum governance.

Also read: Live update on EU budget for 2021

The following are the main points announced by the Minister of Finance in the 2021 State Budget:


Sitharaman has offered assistance to seniors over 75 who only have rental and retirement income and exempt them from filing income tax returns.

He also announced the creation of an impersonal dispute resolution mechanism for small taxpayers.


Sitharaman announced that Prime Minister Atmanirbhar Swasth Bharat Yojana will be launched over 6 years at a cost of 64,180 crores. He said he would help 15 puskesmas, including strengthening the National Center for Disease Control.

Total Health and Welfare Costs: Rs 2.23,246 cr. This is a 137% increase from the allocation of nearly Rs 94,000 in the last budget.

It will also increase nutrition, delivery, volume and yield. We will combine a nutritional supplement program.

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