Union Budget 2021 India Live, FM Nirmala Sitharaman Speech Live Updates: The finance minister in her Budget 2021 speech declared a slew of taxation reforms along with increased disbursal on health care with Rs 35,000 large integer on Covid-19 vaccine development. browse our live blog for highlights on what Sitharaman announced today.

Union Budget 2021 Live Updates: finance minister Nirmala Sitharaman has presented the Union Budget 2021-22 in Parliament. Insignificant changes to the taxation process, Sitharaman announced the scrapping of income tax for senior citizens under certain conditions, new rules for removal of double taxation for NRIs, and a reduction in the time period of tax assessments among other measures. Startups will get an extension in their tax vacation for an extra year. Sitharaman also announced that the advance tax liability on dividend financial gain shall arise after the declaration of payment of dividend. At the conclusion of her speech, Sensex was at 47451.62, up 1165.85 points.

A slump in government revenues amid the Covid-19 pandemic has led to a sharp rise in deficit and market borrowing. In health care spending, Sitharaman announced a total pay of around Rs 2 lakh large integer on tending with Rs 35,000 crore on Covid-19 immunogen development and innoculation.

Sitharaman, in her speech, announced a push to the textile industry, a hike in customs duty on cotton and raw silk, a new cess on agriculture development – Rs 2.5per liter on petrol and Rs 4 per l on diesel – a central university in Leh, a focus on sea-weed farming with a brand new facility in Tamil Nadu and new vehicle scrapping policy that aims to provide the auto sector with a boost among other announcements. Sitharaman also announced that an additional 1 crore families will now benefit under the Centre’s Ujjwala scheme. Four poll-bound states – Kerala, Tamil Nadu, Assam, and West Bengal – will see significant spending on highway road expansion.

Addressing the nation after the Budget, Modi said it speaks of “all-round development.” “From Covid-related reforms to Atmanirbhar resolve, we moved ahead with this mantra in Budget 2021. It’s an active and not a reactive budget,” he added, congratulated the Finance Ministry team.

This was Sitharaman’s third budget under the National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi. In a significant departure from the tradition, this year’s Budget was not printed and was only made available in a digital format.