Budget 2021 live updates, Govt introduces agriculture infrastructure cess
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Budget 2021 live updates, Govt introduces agriculture infrastructure cess

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Table of Contents Hide
  1. Custom duty changes
  2. GST, customs
  3. PF deductions
  4. Fiscal deficit pegged at 9.5% of GDP
  5. Minimum government and maximum governance
  6. Sensex in green
  7. Education
  8. Migrant workers and labourers
  9. Agriculture and rural development
  10. Disinvestment and strategic sale
  11. Financial Capital
  12. Shipping and ports
  13. Power
  14. Metro services in 27 cities
  15. National Rail Plan
  16. New voluntary scrappage policy
  17. Asset monetisation
  18. Physical and Financial Capital and Infrastructure
  19. Health and wellbeing
  20. For Atmanirbhar Bharat
  21. Rahul Gandhi’s Budget wish list
  22. Markets in green
  23. FM meets President

Live updates from the Parliament as Finance Minister Nirmala Sitharaman presents her third Union Budget.

Contents
Custom duty changesGST, customsPF deductionsFiscal deficit pegged at 9.5% of GDPMinimum government and maximum governanceSensex in greenEducationMigrant workers and labourersAgriculture and rural developmentDisinvestment and strategic saleFinancial CapitalShipping and portsPowerMetro services in 27 citiesNational Rail PlanNew voluntary scrappage policyAsset monetisationPhysical and Financial Capital and InfrastructureHealth and wellbeingFor Atmanirbhar BharatRahul Gandhi’s Budget wish listMarkets in greenFM meets President

Union Finance Minister Nirmala Sitharaman delivered her third Budget in Lok Sabha on Monday, February 1.

With no changes in personal income tax slabs and a slew of hike in customs duty to benefit Make in India, the Budget speech focussed on the Centre’s Atmanirbhar Bharat vision.

Honourable Speaker Sir, With these words, I commend the Budget to this August House, she says.

Nirmala Sitharaman introduces the Finance Bill.

Custom duty changes

Duty of copper scrap reduced to 2.5%.

We have calibrated customs duty rates on chemicals to encourage domestic value addition. We are now reducing duty on naptha to 2.5%.

Custom duty on gold and silver to be rationalised.

We are raising duties on imported solar inverters from 5% to 20% and on solar lanterns from 5% to 15%.

All nylon products to have 5 % customs duty.

Tunnel boring machines will attract custom of 7%. Exemption on certain leather will be withdrawn.

To benefit farmers, we are raising customs duty on cotton from 0 to 10%.12.40 PM

GST, customs

We have seen record GST collections in the last two months. As chairperson of the GST council, I want to assure this House that we shall take every possible step to smoothen the GST structure further and remove anomalies like inverted duty structures.

A revised custom duty structure is on the annvil.

I now propose to review over 400 old exemptions this year. We will conduct this through extensive consultations and a revised customs duty structure free of distortions will be in place from October 1.12.35 PM