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Important Points From Union Budget 2021 For APSC Exams

The Union Budget is a topic of great importance for APSC aspirants as current affairs is an eminent part of APSC preparations. This topic is equally relevant for candidates with economics as their optional subject. We have listed few Important Points From Union Budget 2021 For APSC Exams that will be beneficial for the students preparing for upcoming APSC exams.

About Union Budget 2021

The Indian Constitution mentions the Union Budget as an ‘Annual Financial Statement’ in its Article 112. It is a blueprint of the government’s revenues and expenditures for a financial year. Presented by the union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, this is the first digital budget and also the first budget of the decade. The Union Budget 2021-22 was released on 1st of February, 2021.

This year’s union budget aims at attaining a vision of Atma Nirbhar Bharat, making India self reliable with their skills and capabilities. The proposals focus on strengthening the Sankalp of Nation First, Doubling Farmer’s Income, Strong Infrastructure, Healthy India, Good Governance, Opportunities for youth, Education for All, Women Empowerment, and Inclusive Development among others. The Union Budget of FY 2021-22 is constructed on 6 pillars.

1. Health and Wellbeing
2. Physical & Financial Capital, and Infrastructure
3. Inclusive Development for Aspirational India
4. Reinvigorating Human Capital
5. Innovation and R&D
6. Minimum Government and Maximum Governance

The schemes and budget allowances that would help the government accomplish its goal of Atma Nirbhar Bharat (self-reliant India).

1. Health and Wellbeing

  • The budget outlay has been increased from Rs. 94,452 to Rs 2,23,846 crore in BE 2021-22
  • PM Aatma Nirbhar Swasth Bharat Yojana, a scheme sponsored by the center.
  • Mission Poshan 2.0, an integration of Supplementary Nutrition Programme and Poshan Abhiyan
  • Budget allocation for vaccines like Covid-19 vaccines and Pneumococcal Vaccine, a Made in India product
  • Jal Jeevan Mission (Urban) for better water supply will be launched.
  • The Urban Swachh Bharat Mission will be launched to accomplish Swachh Bharat, Swasth Bharat.

 

2. Physical & Financial Capital & Infrastructure

  • Production Linked Incentive Scheme(PLI)
  • Mega Investments Textiles Parks (MITRA) will be launched in addition to the PLI scheme
  • The expansion of National Infrastructure Pipeline(NIP) to 7,400 projects
  • Introduction of Development Financial Institution(DFI) for infrastructure financing
  • A National Monetization Pipeline (NMP) of potential brownfield infrastructure assets will be launched asset monetization
  • Roads and Highway infrastructure under the Bharatmala Pariyojana Project.
  • National Rail Plan for India – 2030, the Plan of Indian Railway to create a ‘future ready’ Railway system by 2030
  • Two new technologies i.e., ‘MetroLite’ and ‘MetroNeo’
  • National Hydrogen Energy Mission 2021-22
  • Ujjwala Scheme.
  • The Recycling of Ships Act 2019 and the Hong Kong International Convention.
  • Increasing FDI in Insurance Sector.
  • Disinvestment and Strategic Sale.

 

3. Inclusive Development for Aspirational India

  • The increase in the receipt to Cotton farmers
  • SWAMITVA Scheme.
  • The allocation to the Rural Infrastructure Development Fund.
  • Operation Green Scheme to include 22 perishable goods
  • The scheme of Stand Up India for SCs, STs, and women
  • One Nation One Ration Card Scheme has been launched

 

4. Reinvigorating Human Capital

  • National Education Policy (NEP)
  • 100 New Sainik Schools will be set up in partnership with NGOs/private schools/states.
  • Set up a Higher Education Commission of India.
  • Establish 750 Eklavya model residential schools in tribal areas.
  • Post Matric Scholarship Scheme for the welfare of Scheduled Castes.
  • Training Inter Training Programme (TITP) between India and Japan

 

5. Innovation and R&D

  • The National Research Foundation.
  • National Language Translation Mission (NTLM), a new initiative by the government
  • The New Space India Limited (NSIL)

 

6. Minimum Government & Maximum Governance

  • The National Commission for Allied Healthcare Professionals Bill.
  • The first Digital Census in the history of India.

 

A detailed knowledge about the Union Budget of the current financial is significant as it helps the aspirants learn about the basic changes the economy is likely to go through and the steps taken by the government to bring those changes. Certain numerical associated with the Union Budget of FY 2021-22 are noteworthy as critical questions tend to appear frequently in APSC exams. The above given points are a few important topics related to the Union Budget 2021-22.

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