List of Important Schemes in Union Budget 2020-21: National Railway Plan, PM Atmanirbhar Swasth Bharat Yojana launched
Union Budget 2020-21: The Budget 2021 has proposed several new schemes and announcements including the launch of PM Atmanirbhar Swasth Bharat Yojana, Mission Poshan 2.0, Urban Jal Jeevan Mission, Urban Swacch Bharat Mission, Voluntary Vehicle Scrapping Policy and National Railway Plan.
List of Important Announcement/ Schemes in Union Budget 2020-21: Union Finance Minister Nirmala Sitharaman has presented the Union Budget 2021 in the Parliament on February 1, 2021. The first paperless budget was touted as an Economic vaccine that will aid revival of the Indian economy.
The Union Cabinet approved the Union Budget 2021-22 prior to its presentation in the Parliament. The Budget 2021 has proposed several new schemes and announcements including the launch of PM Atmanirbhar Swasth Bharat Yojana, Mission Poshan 2.0, Urban Jal Jeevan Mission, Urban Swacch Bharat Mission, Voluntary Vehicle Scrapping Policy, National Railway Plan, National Hydrogen Mission, First Digital Census, Investor Charter and first central university in Leh.
Full List of Important Announcements/ Schemes in Union Budget 2020-21
The Union Budget 2021-22 is the first Budget of the new decade and the first paperless budget. It is also the third one that follows a contraction in the economy.
Part A- Vision for Atmanirbhar Bharat - Six Pillars
The Budget 2021-22 rests on six pillars:
1. Health & Well-Being
2. Physical & Financial Capital & Infrastructure
3. Inclusive development for aspirational India
4. Reinvigorating human capital
5. Innovation & R&D
6. Minimum Govt & Maximum Governance.
1. Health and Well Being
PM Atmanirbhar Swasth Bharat Yojana: PM Atmanirbhar Swasth Bharat Yojana to be launched to develop primary, secondary and tertiary healthcare systems, strengthen existing health systems and support future health interventions with an outlay of about 64,180 crores over 6 years. This will be in addition to the National Health mission and will support 17,000 rural and 11,000 urban health care centres.
-Establishing 7000 rural and 11000 urban wellness centres
-Setting up of health labs
-establishing critical care hospital blocks in 602 districts.
-strengthening of national disease control
-expansion of integrated health portal
-establishing 17 new public health units
-to connect all public health labs
-strengthening of existing of public health units
Mission Poshan 2.0 to be launched to improve nutritional outcomes across 112 aspirational districts.
2. Physical and Financial Capital & Infrastructure
The Finance Minister stated that to realise five trillion dollar economy, India's manufacturing sector has to grow in double digits for a sustained period. A PLI scheme has been announced for 13 sectors to achieve the same with an outlay of Rs 1.97 lakh crore over the next 5 years.
Mega Investment Textile Parks- 7 textile parks will be added in the next three years.
National Infrastructure Pipeline: The National Infrastructure Pipeline (NIP) was launched with 6835 projects, which has now expanded to 7400 projects. The NIP will require major funding from both centre and financial sector.
-Proposal to set up Development Finance Institution at a cost of Rs 20,000 crore.
-A national monetising pipeline will be launched and a dashboard will be created to overlook the progress.
- A lot of airports will be monetised for operation and management.
- 100% electrification will be completed by 2023.
The centre has proposed creation of a framework to allow consumers of electricity alternatives to choose from more than one distribution company.
National Hydrogen Mission: A comprehensive National Hydrogen Mission will be launched in 2021-22 for generating hydrogen from green power sources.Shipping and ports
-The major ports will be moved from operating services on their own and they can enter into public-private partnership to get private players to operate and manage it for them.
-Around 90 ship recycling yards at Alang in Gujarat to be made compliant with latest international norms.
-Recycling capacity to be doubled by 2024 to help generate an additional 1.5 lakh jobs for the youth.
Ujjwala scheme, which has benefited 8 crore households so far, will be extended to cover 1 crore more beneficiaries
Gas pipeline network to be taken up in J&K union territory and City Gas Distribution (CGD) programme will be extended to 100 districts in next three years.
- Single securities market code: Centre to consolidate the provisions of the Sebi Act, Depositories Actand two other laws, into a Unified Securities Market Code.
- Investor Charter: Investor Charter to be introduced as a right for all investors in all financial products to enable investor protection.
-Insurance Act 1938 proposed to be amended to increase the permissible FDI limit from 49% to 74% and allow foreign ownership & control with safeguards.
-Asset reconstruction company to be set up to take over stressed loans.
-Asset reconstruction and Asset management companies will be set up for value realisation.
-Deposit insurance: The centre has approved an increase in the cover from Rs 1 lakh to Rs 5 lakh for bank depositors.
-FM Sitharaman further proposed decriminalisation of the Limited Liability Partnership Act of 2008.
Two PSU bank and one general insurance firm to be disinvested.
IPO of LIC to debut this year
Strategic sale of Air India, IDBI Bank and BPCL to be completed in 2021-22.
Niti Aayog to come up with the list of companies that may be disinvested next.
The centre has also undertaken a detailed exercise to rationalise centrally sponsored schemes on the recommendation of the Fifteenth Finance Commission.
3. Inclusive development for Aspirational India
Paddy Procurement- The amount paid for paddy was Rs 53,928 crore in 2013-2014 and in 2019-20, this increased to Rs 1.41 lakh crore and it is further estimated to increase to Rs. 1,72,752 crore in 2020-21.
4. Reinvigorating human capital
-Setting up of Higher Education Commission
-1,00 Sainik Schools will be set up in partnership with NGOs, private schools, and states.
-Proposal to set up central university in Leh
- 750 Eklavya schools will be set up in tribal areas.
-Propose to increase cost of Eklavya schools for schedule caste and schedule tribe students
-35219 crores to benefit 4 crore scheduled caste students.
-National research foundation to be set up with an outlay 50000 crores
-More than 15,000 schools will be strengthened under NEP 2020.
-An 'umbrella' structure will be created for central higher education institutions in various cities such as Hyderabad.
5. Innovation & R&D
Gaganyaan Mission: The first unmanned launch of the Gaganyaan Mission is slated for dcember 2021
Deep ocean mission to be launched for the conservation of deep sea biodiversity.
6. Minimum Govt & Maximum Governance
-First Digital Census to be launched. The centre has allocated Rs 3,758 crore for the same this year.
-Rs.1000 crore proposed for welfare of tea workers, especially women and children, in Assam and West Bengal
-Rs 300 crore to be granted to Goa government to celebrate 50 years of liberation from the Portuguese.
Migrant workers and labourers
-One nation one ration card scheme implemented by 32 states and union territories- covering 86 percent of beneficiaries. The remaining four states/ UTs to be integrated soon.
-New proposal for portal for migrant workers. The portal will maintain information on gig workers and construction workers, which will help provide benefits to migrant workers. It will help formulate health, housing, skill, insurance credit &food schemes for migrant workers.
-Social security benefits to be extended to gig and platform workers. Minimum wage to apply to all categories of workers. This will be ensured through the four new labour codes.
-Women will be allowed to work in all categories and also in night shifts with adequate protection.
-To further facilitate credit flows for Standup India scheme for SCs, STs and women, the Finance Minister proposed to reduce the margin capital required for loans from 25% to 15%.
Atmanirbhar Bharat Package
The Finance Minister during the beginning of her budget speech recalled the launch of Atmanirbhar Bharat package to provide stimulus to the Indian economy. Prime Minister Narendra Modi had announced the launch of Atmanirbhar Bharat Abhiyan on May 12, 2020. The special economic package worth Rs 20 lakh crore was launched with an objective to make India self-reliant. During his address to the nation, the Prime Minister had urged people to be vocal about local.
The Atmanirbhar Bharat package was launched to provide relief to those sections of the population who have contributed significantly to the country's growth including farmers, labourers and Indian taxpayers- the middle class and the industry. The packages reportedly helped in accelerating reforms in the country.
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