Finance Minister Nirmala Sitharaman made several important announcements in her budget speech on Monday regarding education and skill development. She said that the National Apprenticeship Training Scheme will be given a shape. Engineering training will be provided to graduates and diploma holders. Additional funds will be released for this. Talks are going on with UAE and Japan for skill development, industrial and vocational training. A training program is also currently going on between India and Japan. This will lead to skill development among Indians.
To promote research and innovation in the country, the Finance Minister said, it has been decided to provide Rs 50,000 crore for the National Research Foundation over the next five years to strengthen research and development processes across the country.
More than 100 Sainik schools will be opened
He announced the opening of more than 100 new Sainik schools in the country. He said that the number of Sainik schools will be increased in collaboration with NGOs, private schools and states.
No relief to taxpayers in Modi government’s budget, what became cheaper and what became costlier
758 Eklavya schools will be opened
The Finance Minister said that 758 Eklavya schools will be opened in tribal areas. This will strengthen the infrastructure for children in tribal areas. Central assistance for Scheduled Caste children will be increased. This will benefit more than 4 crore Dalit students.
Higher Education Commission will be formed
The Finance Minister said, ‘Higher Education Commission was mentioned in the last budget. It will be formed soon. The law will be amended for this. It will have four branches which will look after functions like standards and funding. A big structure will be developed in 9 cities. Coordination among them and financial autonomy will be maintained.’
Other important announcements
– – Mobiles will become expensive. Announcement of increase of 2.5% in custom duty on devices. Apart from this, custom duty on gold and silver has been reduced. Not only this, duty on steel has also been reduced.
– Three year old tax cases will not be reopened now. Earlier, the limit for tax assessment was 6 years. In this way, the government has tried to eliminate the complexity of the taxation system.
– Under Section 80EEA of Income Tax, the exemption will now be applicable on loans taken till March 31, 2022. The Finance Minister said that we have also taken measures to simplify GST.
– Senior citizens above the age of 75 years will no longer have to file income tax returns. This relief will be given to those people whose only source of income is pension.
– 17 new public health units will be started. These will also be built at 32 airports. National Institute of World Health will be built. 9 bio labs will be built. Four National Institutes of Virology will be built.
– One lakh forty one thousand crore rupees will be spent on Urban Swachh Bharat Mission 2.0. Two thousand crore rupees will be spent on clean air in the next five years.
– Scrap policy will come for old vehicles. Fitness certificate will have to be taken for every vehicle. Voluntary scrap policy will be launched soon.
– Rs 18 thousand crore has been allocated for government bus services. Apart from this, metro projects have been announced for cities like Bengaluru, Nagpur, Chennai, Kochi.
– A capital of Rs 1 lakh 10 thousand 55 crore has been allocated for railways. A new rail scheme has been announced to be started from 2030. The Finance Minister said that our focus will be on Make in India in railways.
– Big announcements related to road projects in Bengal, Assam, Tamil Nadu. 8,500 km of road projects will be completed next year.
– Announcement of Rs 27.1 lakh crore under the Aatmanirbhar package to deal with the Covid-19 epidemic. The budget of Aatmanirbhar Bharat is 13 percent of GDP.
– The second phase of Swachh Bharat will be implemented with an expenditure of Rs 1,41,678 crore in the next five years.
– Finance Minister announced Jal Jeevan Mission with an outlay of Rs 2.87 lakh crore for 4,378 urban local bodies.
– Finance Minister allocated Rs 65,000 crore for road, highway projects in Kerala and Rs 3,400 crore for Assam.
– The Finance Minister said that the work of 100 percent electrification of broad gauge railway line will be completed by December 2023.
– FDI limit in insurance sector increased from 49 per cent to 74 per cent.
– The government will introduce a bill to set up a Development Finance Institution with a capital of Rs 20,000 crore.
– – PM Atmanirbhar Swasthya Yojana will be started. 61 thousand crore rupees will be spent on this in the next 6 years. Money will be spent on health services from primary to higher level. There will be focus on new diseases. It will be different from National Health Mission. 75 thousand rural health centers, testing centers in all districts, critical care hospital blocks in 602 districts, National Center for Disease Control, Integrated Health Info Portal will be strengthened.
