Budget 2021: Graduate And Engineering Diploma Holders Will Be Given Training
New Delhi, February 1, 2021: Finance Minister Nirmala Sitharaman made several important announcements in her budget speech for education and skill development. She said that the National Apprenticeship Training Scheme will be formulated. Graduate and diploma holders will be given engineering training.
Additional funds will be released for this. Negotiations are underway with the UAE and Japan for skill development, industrial and vocational training. Training programs are also currently underway between India and Japan. This will lead to skill development among Indians.
“To promote research and innovation in the country,” the Finance Minister said, “Rs. 50,000 crore will be arranged for the National Research Foundation during the next 5 years to strengthen the research and development processes across the country.”
More than 100 Sainik Schools to be opened
More than 100 new Sainik Schools will open in the country. She said that the number of Sainik Schools will be increased in association with NGOs, private schools, and states.
758 Eklavya schools to be opened
Finance Minister said that 758 Eklavya schools will be opened in tribal areas. This will strengthen the basic facilities for children in tribal areas. Central assistance will be increased for Scheduled Caste children. This will benefit over 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 standards and funding. A large structure will be developed in 9 cities. Through the synergy between it, economic autonomy will be maintained.
Other important announcements
– Mobiles will be costlier (2.5% increase in customs duty on equipment). Apart from this, the customs duty on gold and silver has been reduced. Not only this, the duty on steel has come down.
– Three-year-old tax cases will not open now. Earlier the tax assessment limit was 6 years. In this way, the government has attempted to eliminate the complexity of the taxation system.
– Under Section 80EEA of Income Tax, the exemption will now be applied to loans taken till March 31, 2022. The Finance Minister said that we have also taken measures to ease GST.
– The elderly above 75 years (pension earners) will no longer have to file income tax returns.
– 17 new public health units to be commissioned. They will also be built at 32 airports. National Institution of World Health will be formed. 9 Bio Labs are to be set up. Four National Institute of Virology will be formed.
– One lakh 41 thousand crore rupees will be spent on Urban Clean India 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. A fitness certificate will have to be taken for every vehicle. A voluntary scrap policy will be launched soon.
– 18 thousand crore rupees have been allocated for government bus services. Apart from this, metro projects have been announced for cities like Bangalore, Nagpur, Chennai, Kochi.
– Capital of Rs 1 lakh 10 thousand 55 crores has been allocated for the Railways. It has been announced to start a new rail scheme from 2030. The Finance Minister said that our emphasis will be on Make in India in the Railways.
– Major announcements have been made in relation with road projects in Bengal, Assam, Tamil Nadu. 8,500 km road projects will be ready next year.
– Declaration of Rs 27.1 lakh crore under the self-sufficient package to deal with the Covid-19 pandemic. The budget of self-sufficient India is 13 percent of GDP.
– In the next five years, the second phase of Swachh Bharat will be implemented with an expenditure of Rs 1,41,678 crore.
– Finance Minister announced Water Life Mission for 4,378 urban local bodies with an expenditure of Rs 2.87 lakh crore.
– 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 100 percent electrification of the broad gauge railway line will be completed by December 2023.
– FDI limit in the insurance sector increased from 49 percent to 74 percent.
– The government will bring a bill to set up a development finance institute with a capital of Rs 20,000 crore.
– PM self-reliant health plan will begin. 61 thousand crores will be spent on this in the next 6 years. Health services from primary to higher levels will be spent. 75 thousand rural health centers, screening centers in all districts, critical care hospital blocks in 602 districts, National Center for Disease Control, Integrated Health Info portal will be strengthened.
