Fiscal deficit for FY21 has been pegged at 9.5% of GDP and 6.8 per cent for FY22. Finance Minister Nirmala Sitharaman said that government will approach the market to borrow an additional Rs 80,000 crore to fund the FY21 fiscal deficit.
Additional deduction of Rs 1.5 lakh has been announced on loans taken up till 31st March 2022 for purchase of an affordable house.
The government has proposed to infuse Rs 20,000 crore into the PSBs to further consolidate financial health of banks.
Disinvestment target for fiscal year 2021-22 has been reduced to Rs 1.75 lakh crore.
The government has allocated record Rs 1,10,055 crore for Railways, of which Rs 1, 07,100 cr will be for capital expenditure.
The government has allocated highest ever Rs 1,18,101 lakh crore for Ministry of Road Transport and Highways of which Rs 1, 08,230 crore is for capital expenditure.
The Budget outlay for health and welfare is Rs 2, 23,846 crore in the 2021-22 Budget. This is a 137 per cent increase. The FM also said that the government will provide support to over 17,000 rural, 11,000 urban health centres across the country.
Government has announced Jal Jeevan Mission Urban with an outlay of Rs. 2.87 lakh crore over five years. It will aim at a water supply in all 4,378 urban local bodies.
The Urban Swachh Bharat scheme will be implemented with an outlay of over Rs. 1.4 lakh crore.
The dedicated COVID-19 package, including Atmanirbhar Bharat scheme, amounts to 13 per cent of the Gross Domestic Product, Sitharaman said. The FM said that more COVID-19 vaccines are expected soon and Rs 35,000 crore has been allocated for COVID vaccines.
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