The Budget proposals for 2021-2022 rest on 6 pillars.
i. Health and Wellbeing
ii. Physical & Financial Capital, and Infrastructure
iii. Inclusive Development for Aspirational India
iv. Reinvigorating Human Capital
v. Innovation and R&D
vi. Minimum Government and Maximum Governance
PM AtmaNirbhar Swasth Bharat Yojana, will be launched with an outlay of about Rs.
64,180 crores over 6 years.
The main interventions under the scheme are:
- Support for 17,788 rural and 11,024 urban Health and Wellness Centers
- Setting up integrated public health labs in all districts and 3382 block public health units in 11 states;
- Establishing critical care hospital blocks in 602 districts and 12 central institutions;
- Strengthening of the National Centre for Disease Control (NCDC), its 5 regional branches and 20 metropolitan health surveillance units;
- Expansion of the Integrated Health Information Portal to all States/UTs to connect all public health labs;
- Operationalisation of 17 new Public Health Units and strengthening of 33 existing Public Health Units at Points of Entry, that is at 32 Airports, 11 Seaports and 7 land crossings;
- Setting up of 15 Health Emergency Operation Centers and 2 mobile hospitals; and
- Setting up of a national institution for One Health, a Regional Research Platform for WHO South East Asia Region, 9 Bio-Safety Level III laboratories and 4 regional National Institutes for Virology.
Mission Poshan 2.0
Merge the Supplementary Nutrition Programme and the Poshan Abhiyan. To improve nutritional outcomes across 112 Aspirational Districts.
Jal Jeevan Mission (Urban) to be launched. Universal water supply in all 4,378 Urban Local Bodies with 2.86 crores household tap connections. To be implemented over 5 years, with an outlay of Rs. 2,87,000 crores.
The Urban Swachh Bharat Mission 2.0 will be implemented with a total financial
allocation of Rs. 1,41,678 crores over a period of 5 years from 2021-2026.
Pneumococcal Vaccine, a Made in India product will be rolled out across the country. Rs.35,000 crores for Covid-19 vaccine in BE 2021-22.
The Budget outlay for Health and Wellbeing is Rs.2,23,846 crores in BE 2021-22 as against this year’s BE of Rs. 94,452 crores an increase of 137percentage.
- 3,500 km of National Highway works in the state of Tamil Nadu at an investment of Rs. 1.03 lakh crores. These include Madurai-Kollam corridor, Chittoor-
- Thatchur corridor
- 1,100 km of National Highway works in the State of Kerala at an investment of Rs. 65,000 crores including 600 km section of Mumbai- Kanyakumari corridor in Kerala
- 675 km of highway works in the state of West Bengal at a cost of Rs. 25,000 crores including up gradation of existing road-Kolkata –Siliguri.
Two new technologies i.e., ‘MetroLite’ and ‘MetroNeo’ will be deployed to provide metro rail systems at much lesser cost with same experience, convenience and safety in Tier-2 cities and peripheral areas of Tier-1 cities.
Central counterpart funding will be provided to:
- Kochi Metro Railway Phase-II of 11.5 km at a cost of 1957.05 crores.
- Chennai Metro Railway Phase II of 118.9 km at a cost of 63,246 crores
- Bengaluru Metro Railway Project Phase 2A and 2B of 58.19 km at a cost of
Nagpur Metro Rail Project Phase-II and Nashik Metro at a cost of5,976 crore and Rs. 2,092 crores respectively.
Petroleum & Natural Gas
- Ujjwala Scheme which has benefited 8 crores households will be extended to cover 1 crores more beneficiaries.
- A gas pipeline project will be taken up in Union Territory of Jammu & Kashmir.
- To consolidate the provisions of SEBI Act, 1992, Depositories Act, 1996, Securities Contracts (Regulation) Act, 1956 and Government Securities Act, 2007 into a rationalized single Securities Markets Code.
- Support the development of a world class Fin-Tech hub at the GIFT-IFSC.
- To establish a system of regulated gold exchanges in the country, SEBI will be notified as the regulator and Warehousing Development and Regulatory Authority will be strengthened to set up a commodity market eco system arrangement including vaulting, assaying, logistics etc in addition to warehousing.
- The non-conventional energy sector, additional capital infusion of Rs.1000 crores to Solar.
- Energy Corporation of India and Rs.1500 crores to Indian Renewable Energy Development Agency.
- Increase the permissible FDI limit from 49% to 74% in Insurance Companies and allow foreign ownership and control with safeguards.
- Incentivize the incorporation of One Person Companies (OPCs) by allowing OPCs to grow without any restrictions on paid up capital and turnover, allowing their conversion into any other type of company at any time, reducing the residency limit for an Indian citizen to set up an OPC from 182 days to 120 days and also allow Non-Resident Indians (NRIs) to incorporate OPCs in India.
- Strategic disinvestment of BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam limited among others would be completed in 2021-22.
- Privatization of two Public Sector Banks and one General Insurance company in the year 2021-22.
- In 2021-22 the IPO of LIC will be brought forward.
- Four areas that are strategic where bare minimum CPSEs will be maintained and rest privatized. In the remaining sectors all CPSEs will be privatized.
- To provide adequate credit to farmers, enhanced agricultural credit target to Rs. 16.5 lakh crores in FY22. Focus on increased credit flows to animal husbandry, dairy, and fisheries
- The allocation to the Rural Infrastructure Development Fund from Rs.30,000 crores to Rs.40,000 crores.
Read Part II of this post here.