– The tax exemption limit increased from Rs.2.5 lakh to Rs.3 lakh – Individuals with an income of up to Rs.7 lakh won't have to pay any tax – Taxpayers can claim a few deductions under the revised tax regime
– A special savings scheme Mahila Samman Saving Certificate for women started with a maximum deposit of Rs.2 lakh with a 7.5% fixed interest rate – The Senior Citizen Savings Scheme (SCSS) increased to Rs.30 lakh from Rs.15 lakh. The scheme offers an assured interest of 8% per annum. The interest is paid quarterly
The affordable housing scheme has been enhanced by 66% to over Rs.79,000 crore
– The RBI has decided to raise the limit for collateral-free agriculture loans from the previous amount of Rs.1 lakh to Rs.1.6 lakh – The government also announced to provide of a 2% interest subsidy to ensure farmers get short-term loans of up to Rs.3 lakh at effective rate of 7% per annum
– Highest ever railway outlay at Rs.2.4 lakh crore, boosting affordable regional connectivity & logistics cargo freights
– The Union health and family welfare ministry has been allocated Rs.89,155 crore in the Union budget – For the upcoming financial year, Rs.86,175 crore has been allocated to the department of health and family welfare while Rs.2,980 crore has been allocated to the department of health research.
A total of Rs.1.62 lakh crore has been set aside for capital expenditure to revive growth in the aftermath of the Covid crisis
– Customs duty on kitchen electric chimneys increased to 15% from 7.5% – Fully imported cars, including electric vehicles to cost more now – Custom duty on cigarettes increased by 16% – Govt to reduce customs duty on shrimp feed to promote exports
But You Know What Remains Constant
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