India Budget 2021 News and Discussion

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ramana
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India Budget 2021 News and Discussion

Post by ramana »

Today the new decade first budget post Covid will be presented.

Please post news and discuss here.

Thank you,

Ramana
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Re: India Budget 2021 News and Discussion

Post by vimal »

LIVE - Presentation of the Union Budget by Finance Minister Nirmala Sitharaman 2021-2022

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Re: India Budget 2021 News and Discussion

Post by Atmavik »

hoping for a budget increase for Defence with a focus on desi manufacturing.
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Re: India Budget 2021 News and Discussion

Post by ramana »

Suraj wrote:Budget beginning shortly. January GST receipts were Rs.1.19 lakh crores as of 6pm on Jan 31

Budget notes:
- Admanirbhar and RBI stimuluses in 2020-21 totaled Rs.27 lakh crore ($375 billion).
- Admanirbhar Health Yojana (Rs.6.42 lakh crore / $89 billion over six years) plan for primary, secondary and tertiary healthcare
- Urban Swacch Bharat Mission (Rs.1.48 lakh crore / $20 billion)
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Re: India Budget 2021 News and Discussion

Post by V_Raman »

health yojana is equivalent to giving back temple money in my opinion. biggest contribution to a stable indian society.

urban swach bharat - good drainage systems will make india a tourism behemoth and will drive air traffic flows in another decade.
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Re: India Budget 2021 News and Discussion

Post by Atmavik »

Rs 35,000 crore for COVID-19 vaccination
Rs 2.83 lakh crore allocated for total health expenditure
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Re: India Budget 2021 News and Discussion

Post by disha »

In Indian economy thread I posited:
However, my is that the GOI will concentrate on just a couple of items. Infrastructure and Infrastructure. The first kind is the rails, roads, bridges, ports kind and the second is the social kind., More toilets, water taps, primary health care & education, electricity, and micro-entrepreneurship.

So hold on to your pants, it will be blown away and you will not even realize it. There will be lot of rona-dhona on what Smt. Nirmaliji, Hon' Finance minister missed and that same rona-dhona will continue well into 2024 when India will be ~3.5 Trillion USD economy.
What I hear now:

1. Chennai Metro Rail Phase 2
2. Phase 2A/2B of Bengaluru Metro
3. Nagpur Metro and Nashik Metro

Power Infrastructure:
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Re: India Budget 2021 News and Discussion

Post by Mort Walker »

It appears she is going through the major items of budget. Defence appears to be the last item of NS statement.
The 2020-2021 Defence Budget presented was Rs. 471,378 crore. Let's see how much more it changes for 2021-2022.

On another note, hydrogen infrastructure is being setup.
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Re: India Budget 2021 News and Discussion

Post by disha »

Power Infrastructure:

1. Added 139 GW of installed capacity
2. Added 1.41 lakh km transmission lines
3. DISCOMs are govt. or pvt. monopolies
4. Fwk to be put in place to have additional DISCOMs
5. Revamped reform & results based scheme for DISCOMs to do feeder separation, smart metering etc
6. National Hydrogen Energy mission for generating hydrogen from green power sources

Ports, Shipping and Waterways

1. Private partner management for ports (Opposition already doing rona-dhona)
2. Flagging of merchant ships in India
3. Recycling of ships act HKC Compliance certificates 4.5 million light displacement tonnes recycling to be doubled by 2024.
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Re: India Budget 2021 News and Discussion

Post by disha »

Petroleum and Natural Gas:

1. Ujwala scheme to be extended to 1 crore more beneficiary
2. 100 more cities in city gas distribution
3. Gas pipeline for Jammu and Cashmere
4. Independent Gas operator for booking common carrier capacity

Financial Capital

1. Sebi act 1992, Security contract act, Government act (+1 more) consolidated into one act
2. GIFT IFC
3. Corporate bond market will benefit from an institutional fwk to develop bond market.
4. Gold exchanges under SEBI and commodity market setup


1. 1000 Crore to Solar Energy Corp
2. Amendment of insurance act. FDI from 49% to 74% and allow foreign ownership with appropriate safeguards
3. Stressed assed reduction. Cleaning up of bank books. Asset management company will take over stressed debt.
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Re: India Budget 2021 News and Discussion

Post by Atmavik »

she is talking about disinvestment. i heard pawan hans
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Re: India Budget 2021 News and Discussion

Post by disha »

Startups/Innovators:

1. 1 person companies can grow without any restriction on turnover or paid capital. Setup from 182 days to 120 days. Allow for NRIs to setup 1 person companies

2. E-Court methods for debt resolution and data analytics/ML for e-Scrutiny, e-Adjucation and e-Compliance

Disinvestment and strategic sale.

1. BPCL, Air India, CCI, IDBI, Bharat Earth Movers, Pawan Hans and others.
2. Rona-dhona from Opposition
3. 2 Public sector and 1 general insurance firm will be privatatized.
4. IPO of LIC (Yay!)
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Re: India Budget 2021 News and Discussion

Post by Atmavik »

FM: Over ₹ 75,000 Cr Wheat MSP paid to farmers in FY2.
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Re: India Budget 2021 News and Discussion

Post by disha »

<missed some more disinvestment policy>

1. States will be incentivized to privatize state companies
2. Surplus land with Government and Public sector enterprises will be monetized. Even by direct sale. A SPV Company will work that out.
3. Closure of Sick/Loss making PUCs will result in 1.25 lakh crore "revenue"

Financial reforms

1. Extend TSA system to save on interest cost
2. Rationalize and bring down central schemes
3. Multi-state cooperatives encouraged/supported via a separate admin structure

3rd pillar of atma-nirbhar

1. Agriculture. MSP regime is 1.5x time of production across all commodities. Major Rona-dhona from opposition
2. 2013-2014 ~37000 crorers. 2020-2021 75000 crores as wheat MSP. 43.36 lakhs farmers benefitted compared to 37.5 lakhs prior year
3. 2013-2014 - 64000 crores. 2019-2020 1.42 lakh crores, 2020-2021 Est. 1.72 lakh crores for paddy. Farmers benefitted from 1.24 crores to 1.54 crores
4. Pulses - 2013-2014 236 crores, 2019-2020 @9000 crores, 2021 10530 crores. 40 times increase from 2014.
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Re: India Budget 2021 News and Discussion

Post by disha »

Atmavik wrote:FM: Over ₹ 75,000 Cr Wheat MSP paid to farmers in FY2.
It's a yuuuge jump. I am missing information on pashu palan. My video stream is stuck.
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Re: India Budget 2021 News and Discussion

Post by Mort Walker »

^^^It seems like a regression.
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Re: India Budget 2021 News and Discussion

Post by Mort Walker »

Rs. 3000 crore for apprenticeship, but nothing really mentioned for vocational education.
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Re: India Budget 2021 News and Discussion

Post by disha »

E-NAM

1. 1000 more mandis
2. Agricultural infrastructure funds will be made available to APMCs

Fisheries

1. Substantial investment in fishing harbours. 5 Major fishing harbours and hubs for economic activity.
2. Sea weed farming. Yay! In TN.

One nation One ration card

1. Partial claim by family. Under implementation by 32 states/UTs. 69 crore beneficiars.
2. Implementation of 4 labour codes

Social security benefits for gig workers. Minimum wages applicable. Employees state insurance corp coverage. Women will be allowed. Single registration of licensing and returns.

National education policy. 100 new sainik schools!

Higher education commission. Standard setting, accredition, regulation and funding. Formal umbrella structure.
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Re: India Budget 2021 News and Discussion

Post by disha »

Mort Walker wrote:Rs. 3000 crore for apprenticeship, but nothing really mentioned for vocational education.
What's the point in setting up training to fix TVs and Radios?
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Re: India Budget 2021 News and Discussion

Post by Atmavik »

disha wrote: 3rd pillar of atma-nirbhar

1. Agriculture. MSP regime is 1.5x time of production across all commodities. Major Rona-dhona from opposition
2. 2013-2014 ~37000 crorers. 2020-2021 75000 crores as wheat MSP. 43.36 lakhs farmers benefitted compared to 37.5 lakhs prior year
3. 2013-2014 - 64000 crores. 2019-2020 1.42 lakh crores, 2020-2021 Est. 1.72 lakh crores for paddy. Farmers benefitted from 1.24 crores to 1.54 crores
4. Pulses - 2013-2014 236 crores, 2019-2020 @9000 crores, 2021 10530 crores. 40 times increase from 2014.
anything for edible oil? we are the largest importer of edible oil.
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Re: India Budget 2021 News and Discussion

Post by Mort Walker »

disha wrote:
Mort Walker wrote:Rs. 3000 crore for apprenticeship, but nothing really mentioned for vocational education.
What's the point in setting up training to fix TVs and Radios?
How about wind turbines and machinery for industry?
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Re: India Budget 2021 News and Discussion

Post by disha »

Expenditure increase from 30.5 to 34.52 lakh crores in one year.

Fiscal deficit will be 9.5% of GDP. Another 80k crore from market.

<unstable internet. Giving up>
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Re: India Budget 2021 News and Discussion

Post by disha »

Mort Walker wrote:
How about wind turbines and machinery for industry?
That's high skills and I think comes under skill training in ITIs.
Last edited by disha on 01 Feb 2021 13:04, edited 2 times in total.
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Re: India Budget 2021 News and Discussion

Post by disha »

Atmavik wrote: anything for edible oil? we are the largest importer of edible oil.
Good point. I did not hear or missed it.
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Re: India Budget 2021 News and Discussion

Post by Suraj »

disha wrote:
Mort Walker wrote:
How about wind turbines and machinery for industry?
That's high skills and comes from I think comes from skill training in ITIs.
PLI already covers incentives to solar panel manufacture. It seems GoI prefers solar to more higher Capex wind, at least in the short term.
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Re: India Budget 2021 News and Discussion

Post by Suraj »

Loans to FCI to be discontinued.
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Re: India Budget 2021 News and Discussion

Post by Atmavik »

disha wrote:
Atmavik wrote: anything for edible oil? we are the largest importer of edible oil.
Good point. I did not hear or missed it.
found this link providing some background on the edible oil issue. i usually do not trust the wire but this article has some good data points

https://thewire.in/political-economy/in ... ufficiency

Image
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Re: India Budget 2021 News and Discussion

Post by Mort Walker »

No Defence or Home Ministry budget presented, or I missed it?
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Re: India Budget 2021 News and Discussion

Post by RajaRudra »

no change in income tax slab.
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Re: India Budget 2021 News and Discussion

Post by Suraj »

Sensex up 1600 points
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Re: India Budget 2021 News and Discussion

Post by AkshaySG »

Did it adjourn for a break or is it over ?

Couldn't hear what was said in the last few mins
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Re: India Budget 2021 News and Discussion

Post by Suraj »

There was a break - can't keep talking for hours nonstop. It's continued.
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Re: India Budget 2021 News and Discussion

Post by kvraghav »

In the name of farmers and small industries, govt is looting middle class. Even Educational institutions run by Gundas got 4 cr rebate. Bloody Hell this govt economic policies. Not even one competent finance minister? If they dont put money is peoples hand, what use pumping more loans? Just promoters gulp them down.
Last edited by ramana on 01 Feb 2021 20:07, edited 1 time in total.
Reason: Struck off offending rhetoric Ramana
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Re: India Budget 2021 News and Discussion

Post by sum »

Heartbreaking on the no-tax relief part.
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Re: India Budget 2021 News and Discussion

Post by asinh »

Rs 4,78,195.62 Cr
7.4% increase over last year
Weapon outlay @ Rs 1,35,060 Cr up Excluding pensions Rs 3,37,000 Cr
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Re: India Budget 2021 News and Discussion

Post by asinh »

Major capital expenditure includes 15% advance payment for LCAMk1A contract, C295 from IAF.
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Re: India Budget 2021 News and Discussion

Post by siddhu »

kvraghav wrote:In the name of farmers and small industries, govt is looting middle class. Even Educational institutions run by Gundas got 4 cr rebate. Bloody Hell this govt economic policies. Not even one competent finance minister? If they dont put money is peoples hand, what use pumping more loans? Just promoters gulp them down.
+1 dakaiti
Last edited by ramana on 01 Feb 2021 20:08, edited 1 time in total.
Reason: Struck off offending rhetoric Ramana
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Re: India Budget 2021 News and Discussion

Post by arshyam »

Summary of the capital expenditure on defence is here: https://www.indiabudget.gov.in/doc/eb/sbe20.pdf

(In ₹ crore)
Army: ₹36,481.90, up from ₹33,213.28 (2020-21 RE)
Navy: ₹33,253.55 down from ₹37,542.88 (2020-21 RE)
Air Force: ₹53,214.77 down from ₹55,055.41 (2020-21 RE)
DRDO: ₹11,375.50 up from ₹7,957.87 (2020-21 RE)
Total: ₹1,35,060.72 up from ₹1,34,510.00 (2020-21 RE)

Nothing earth shattering, clearly, but point to note is that is the revised estimates of the previous year were higher than what was initially allocated in the previous year's budget (especially true for the Navy and Air Force), indicating that money would be found for acquisitions. For example, while total RE for last year was ₹1,34,510 crore, the budget had allocated only ₹1,13,734 crore (a ₹20,776 crore increase). So while there's no steep increase, these allocations are also a painful reminder of the slothful way the MoD goes about its work.

Good increase for R&D though (42%).
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Re: India Budget 2021 News and Discussion

Post by nam »

To prevent R&D over the defence budget later on....

Revised capital(actual) spend last year was 23% over planned capital :D

This year planned capital budget is 19% over last year. If there is buying spree and see a similar revised capital, in 2 years, the capital budget would have increased 50%!

IN capital budget is now close to IA (33k to 36K). IAF is getting 50K+ 2 years in a row. The media jokers got the percentage increase right, but instead of capital budget, they thought it was the entire budget!

Capital budget is what matters.. Not interested in Opex & pensions.
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Re: India Budget 2021 News and Discussion

Post by Suraj »

Please stop using this thread to complain that you didn't get an IT cut. This is simply recurring noise in every budget and has no productive discussion value, amounting to little more than angry namecalling of public personalities, with one or more posters getting warned or banned in the process.
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