Union Budget marks continuation of govt efforts to handhold startups: STPI s Omkar Rai ANI | Updated: Feb 02, 2021 15:23 IST
New Delhi [India], February 2 (ANI/NewsVoir): The year 2021 will be remembered as a milestone for the presentation of the first paperless budget. It reinforces the significance of digitization and emerging technologies as among the formidable undercurrents in the Indian economy. These developments have shaped the trajectory of the startup ecosystem in the past few years.
The role of the government has further propelled the growth of startups. The Indian startup ecosystem is currently the third-largest in the world. A series of measures such as revising the definition of startups, providing income exemptions and setting up Fund of Funds has had a cascading effect by promoting entrepreneurship, generating employment and fostering innovation. Amid the focus on Aatma Nirbhar Bharat, the government has allocated Rs 945 cro
Budget 2021: Disinvestment, asset monetisation to help govt raise revenue
Resisting the temptation to hike taxes, the finance minister banked on disinvestment and asset monetisation to increase government s revenue.
Rai Vinaykumar | February 2, 2021 | Updated 16:07 IST
The finance minister laid down an ambitious asset monetisation plan for public infrastructure which will help the government raise revenue.
In the Union Budget for 2021-22, presented amidst the COVID-19 pandemic, Finance Minister Nirmala Sitharaman batted for economic growth by increasing government s capital expenditure to Rs 5.54 lakh crore.
However, she resisted the temptation to hike taxes at a time when there were suggestions to increase tax rate for super-rich or levy a COVID tax. Instead, the finance minister banked on disinvestment and asset monetisation to increase government s revenue.
1. Health and Wellbeing
There is substantial increase in investment in Health Infrastructure and the Budget outlay for Health and Wellbeing is Rs 2,23,846 crore in BE 2021-22 as against this year’s BE of Rs 94,452 crore, an increase of 137 percentage.
The Finance Minister announced that a new centrally sponsored scheme, PM AatmaNirbhar Swasth Bharat Yojana, will be launched with an outlay of about Rs 64, 180 crore over 6 years. This will develop capacities of primary, secondary, and tertiary care Health Systems, strengthen existing national institutions, and create new institutions, to cater to detection and cure of new and emerging diseases. This will be in addition to the National Health Mission. The main interventions under the scheme are:
Hon’ble Speaker,
I present the Budget for the year 2021-2022.
1. Honourable Speaker, the preparation of this Budget was undertaken in circumstances like never before. We knew of calamities that have affected a country or a region within a country, but what we have endured with COVID-19 through 2020 is sui generis.
2. When I presented the Budget 2020-21, we could not have imagined that the global economy, already in throes of a slowdown, would be pushed into an unprecedented contraction.
3. We could not have also imagined then that our people as those in other countries would have to endure the loss of near and dear ones and suffer hardships brought about due to a health crisis.
Health and Wellbeing
There is substantial increase in investment in Health Infrastructure and the Budget outlay for Health and Wellbeing is Rs 2,23,846 crore in BE 2021-22 as against this year’s BE of Rs 94,452 crore, an increase of 137 percentage.
The Finance Minister announced that a new centrally sponsored scheme, PM AatmaNirbhar Swasth Bharat Yojana, will be launched with an outlay of about Rs 64, 180 crore over 6 years. This will develop capacities of primary, secondary, and tertiary care Health Systems, strengthen existing national institutions, and create new institutions, to cater to detection and cure of new and emerging diseases. This will be in addition to the National Health Mission.