The most awaited Union Budget 2021 is here! With six new pillars introduced this time, let us understand some key announcements made with regards to the endmost pillars.
Crux of the Matter
Read Summachar coverage of the first pillar of the budget: Decoding Budget 2021 I: Health And Wellbeing
Inclusive Development For aspirational India
– Agriculture & Allied Activities | Farmer’s Welfare | Rural India | Migrant Workers
– MSME’s Allocation: 15,700 Crores
– SWAMITVA scheme now applied to all states and UT’s
– Rural Infrastructure Development Fund: 40k Crore
– Doubling Micro Irrigation Fund corpus to ₹ 10K crores
– Seaweed Park to be established in Tamil Nadu
Agriculture & Fisheries
Extending the scope of below initiatives:
Swamitva Scheme | e- Nam | Operation Green | Micro irrigation Fund | Rural Infrastructure Development Fund.
– A central portal to be launched for the unorganised workforce that would aid migrant workers in receiving social benefits.
– One Nation One Ration Card has covered 86% of beneficiaries.
Reinvigorating Human Capital
– 100 New sainik Schools to be established in partnership with NGO’s
– Central University to set up in Leh
– 750 Eklavya Model Residential schools in tribal areas with an increased unit allocation.
– Partnership with Japan for vocational skills and trainings
Innovation & R&D
– National Research Fund Outlay : 50k Crores over 5 years
– National Language Transmission Mission to enable policy knowledge in all major regional languages
– Gaganyan’s unmanned launch slated in December 2021.
– Deep Ocean Mission ( 4k Crores )for exploring conservations of our biodiversity
Minimum Government Maximum Governance
– Setting a conciliation mechanism and mandating its use for contractual disputes
– Census 2021 would be India’s first digital one
– Women Tea Workers in Assam: 1k Crore
- Ministry of Jal Shakti is a ministry under the Government of India which was formed in May 2019 under the second Modi ministry. This was formed by merging of two ministries; Ministry of Water Resources, River Development & Ganga Rejuvenation and Ministry of Drinking Water and Sanitation.
- At 2 hours and 41 minutes, the budget speech was the longest ever delivered by a Finance Minister of India. Nirmala Sitharaman is also only the second woman to present the budget for a second time after Indira Gandhi.
- The practice of presenting budgets and fiscal policy to parliament was initiated by Sir Robert Walpole in his position as Chancellor, in an attempt to restore the confidence of the public after the chaos unleashed by the collapse of the South Sea Bubble in 1720.