Budget

Budget 2021 : Healthcare

Government measures for strengthening ‘health and wellbeing’: A Production linked incentive scheme is announced to boost the manufacture of pharmaceutical and medical devices. 35000 crore rupees has been allocated for the development of COVID-19 vaccine. Mission COVID Suraksha has been launched to improve indigenous vaccine testing and development. Further coverage of pneumococcal vaccine will also be enhanced. Pradhan …

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Budget 2021: Concerns

Concerns regarding the budget: Adherence to incrementalism: Given the abnormal times for the economy, which requires non-standard policy responses, the Budget maintains incrementalism and continues with business as usual. Insufficient public expenditure: There is very little increase in the overall expenditure of the government. Only 1% increase in overall expenditure. Though capital expenditure has increased by …

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Budget 2021 : Transport

Provisions: Development Finance Institution: A new development finance institution is being set up to fund infrastructure projects under the National Infrastructure Pipeline. It will help meet the infrastructure’s long term debt financing needs. The goal is to have a lending portfolio of at least Rs. 5 lakh crore in three years. Highways: The Ministry of …

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Budget 2021 : Financial Administration

Provisions: The Budget has announced setting up of a Single Security Market Code by consolidating the provisions of : SEBI Act, 1992, Depositories Act, 1996, Securities Contracts (Regulation) Act, 1956 and Government Securities Act, 2007. The budget has also proposed to create a permanent institutional framework to govern the corporate bond market. To provide protection …

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Budget 2021 : Research & Development – UPSC GS3

Provisions: National Research Foundation: The budget has earmarked Rs. 50,000 crore over five years for the creation of the National Research Foundation. The National Research Foundation (NRF) would act as an umbrella body to fund research across a range of disciplines, from science and technology to humanities. The NRF would be an autonomous body and …

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Budget 2021 : Automobile Sector – UPSC GS3

Vehicle Scrappage Policy: Vehicle scrappage policy aims to phase out old and unfit vehicles. Vehicles would undergo fitness tests after 20 years in automated fitness centres in the case of personal vehicles (PV), and after 15 years in the case of commercial vehicles (CV). Significance: The policy would help in encouraging fuel-efficient, environment-friendly vehicles, thereby …

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Budget 2021 : Agriculture & allied sectors – UPSC GS3

Provisions in Budget 2021: Agriculture Infrastructure Development Cess would be levied on petrol, diesel, gold and other imports, to improve facilities for production, conservation and processing of farm produce. APMCs have been allowed to tap into the Rs.1 lakh crore Agriculture Infrastructure Fund (AIF) which was created last year, as part of the COVID-19 stimulus …

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