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The Union Budget 2021-22 was presented by the Hon’ble Finance Minister Nirmala Sitharaman on 1st February 2021 in the Parliament. The Budget speech was given by the FM from 11 a.m. to 1 p.m.
This year’s Budget lays focus on the seven pillars for reviving the economy – Health and Wellbeing, Physical and Financial Capital and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Government Maximum Governance. Several regulations around the securities market are proposed to be merged as a single code. Several direct taxes and indirect taxes amendments were also proposed.
Certain direct tax proposals were introduced, providing relaxation to individual taxpayers and startups to some extent. The individual and corporate tax rates for FY 2021-22 (AY 2022-23) was left unchanged. In a major move, the limit for tax audits under section 44AB has been increased from Rs 5 crore to Rs 10 crore (only where 95% of payments are digitised), providing relief to many corporate houses. The following are other proposed amendments:
Topic | Download |
Budget at a Glance | |
Budget Speech | |
Deficit Statistics | |
Transfer of Resources to States and Union Territories with Legislature | |
Budget Profile | |
Receipts | |
Expenditure | |
Outlay on Major Schemes |
Statement I – Consolidated Fund of India | Download |
Revenue Account – Receipts | |
Revenue Account – Disbursements | |
Capital Account – Receipts | |
Capital Account – Disbursements | |
Statement IA – Disbursements ‘Charged’ on the Consolidated Fund of India | |
Statement II – Contingency Fund of India – Net |
Statement I – Consolidated Fund of India | Download |
Revenue Account – Receipts | |
Revenue Account – Disbursements | |
Capital Account – Receipts | |
Capital Account – Disbursements | |
Statement IA – Disbursements ‘Charged’ on the Consolidated Fund of India | |
Statement II – Contingency Fund of India – Net |
Statement III – Public Account of India | Download |
Receipts | |
Disbursements | |
Receipts & Expenditure of Union Territories without Legislature | |
Finance Bill | |
Budget Highlights (Key Features) | |
Memorandum |
Receipt Budget | Download |
Introductory Note |
PART-A RECEIPTS | Download |
Abstract of Receipts |
Summary of Estimates of Tax, Non-Tax Revenue and Capital Receipts | Download |
I. Tax Revenue | |
II. Non-Tax Revenue | |
III. Capital Receipts |
Annexures | Download |
1. Trends in Receipts | |
2. Analysis of Tax and Non-Tax Revenue Receipts included in Annexure 1 | |
3. Reconciliation between estimates of Receipts shown in Annual Financial Statement and Receipts Budget | |
4. Statement showing State-wise Distribution of Net Proceeds of Union Taxes and Duties for BE 2020-2021 | |
4A. Statement showing State-wise Distribution of Net Proceeds of Union Taxes and Duties for RE 2019-2020 | |
4B. Statement showing State-wise Distribution of Net Proceeds of Union Taxes and Duties for Actual 2018-2019 | |
5. Tax Revenues raised but not realised (Principal Taxes) | |
6. Arrears of Non-Tax Revenue | |
7. Revenue impact of Tax Incentive under the Central Tax System: Financial Years 2018-19 and 2019-20 | |
8. Sources and Application of National Small Savings Fund as on 31st March, 2020 |
PART-B ASSET AND LIABILITY STATEMENTS | Download |
1. Debt position of the Government of India |
Expenditure Budget/Profile | Download |
Expenditure Profile | Link |
Expenditure Budget | Link |
Demands for Grants of Central Government | Link |
Customs Notifications | Download |
Explanatory Notes | |
D.O. Letter from JS(TRU-I) | |
The Macro Economic Framework Statement | |
Medium Term Fiscal Policy cum Fiscal Policy Strategy Statement | |
Output Outcome Framework for Schemes 2020-2021 |