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In the last of six pillars of Budget 2021, Finance Minister Nirmala Sitharaman outlined plans for reforms to ensure minimum government, maximum governance.
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Modalities of the NRF have been worked out and an outlay of ₹ Rs 50,000 crore has been announced for a period of five years.
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Unit linked insurance plans offers a combination of both investment and insurance. It offers a chance to invest in stock markets including government and corporate bonds, as per the preference of the policyholder.
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Amendment to the Apprenticeship Act with a view to further enhancing apprenticeship opportunities for the youth.
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“The budget looks growth oriented. Under present circumstances, the government has committed to a lot of spending, especially in the infrastructure sector," he told Money9.
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Jewellers dealing in black market can save 5.5% tax (3% GST and 2.5% cess), much more than the earlier 3% tax, by undertaking cash deals.
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The Finance Minister in the budget has proposed increasing the FDI limit in the insurance sector from 49% to 74% in the budget 2021-22.
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Dividend earned on Real estate investment Trust (REIT) and Infrastructure Investment Trust (InvIT) will not be taxed.
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Following the announcements, gold futures fell more than Rs 900 at 1.84% and is currently trading at Rs 48,430.
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Nirmala Sitharaman also mentioned that the NH between Kolkata and Siliguri that runs along the length of the state of Bengal would be strengthened and broadened.