Earlier this month, Union Finance Minister Sitharaman had stated that the budget for the fiscal year beginning April will be “like never before”.
Union Finance Minister Nirmala Sitharaman presented Union Budget 2021-22 in Lok Sabha on Monday (January 1). This budget was special in many ways as it was being presented amidst challenges like coronavirus pandemic. In such a situation, the eyes of common people and special people werre set on the announcements.
Earlier this month, Sitharaman had stated that the budget for the fiscal year beginning April will be “like never before”. This was also the first paperless budget in history of independent India. Sitharaman, in her first budget in 2019, had replaced leather briefcase that had been for decades used for carrying budget documents with a traditional red cloth ‘bahi-khata’. But she replaced 'bahi khata' with a 'Made In India' tab.
Items that got cheaper:
- Naphtha
- Caprolactam
- Nylon Chips
- Nylon fibre and yarn
- Iron and Steel melting scrap, including stainless steel scrap
- Primary/Semi-finished products of non-alloy steel
- Flat products of non-alloy and alloy-steel
- Long products of non-alloy, stainless and alloy steel
- Raw materials used in manufacture of CRGO Steel
- Copper Scrap
- Components or parts, including engines, for manufacture of aircrafts by Public Sector Units of Ministry of Defence
- Platinum, Pallidum
- Waste and Scrap of Precious Metals
Items that got costlier:
- Cotton
- Cotton waste
- Raw Silk (not thrown) and silk yarn/yarn spun from silk waste
- Denatured ethyl alcohol (ethanol) for manufacture of excisable goods
- Prawn Feed
- Fish feed in pellet form
- Flours, meals and pellets of fish, crustaceans, molluscs or other aquatic invertebrates
- Maize Bran
- De-oiled rice bran cake
- Carbon Black
- Plastics Builder’s ware of plastic, not elsewhere specified or included
- Polycarbonates
- Wet blue chrome tanned leather, crust leather, finished leather of all kinds, including their splits and slides
- Cut and Polished Cubic Zirconia
- Synthetic Cut and Polished Stones
- Parts and components for manufacture of Tunnel Boring Machines
- Metal products like Screws, Nuts, etc.
- Plastic, for manufacture of charger or adapter
- Compressor of Refrigerator/Air Conditioner
- Specified insulated wires and cables
- Inputs and parts of LED lights or fixtures including LED
- Lamps
- Solar Inverters
- Solar lanterns or solar lamps
The Finance Minister also announced that the Centre will introduce LIC IPO in 2022 and will complete the divestments of Air India by 2022. "For start ups, we are allowing 1% companies to grow without any restriction on their paid up capital. Other than IDBI we plan to take up 2 more banks for disinvestment. LIC IPO will come in 2022. All divestments announced so far, including Air India, BPCL, CONCOR, Pawan Hans, to be completed by 2022," she said.
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