New Delhi, Feb. 02: The Union Budget presented by Union Finance Minister Nirmala Sitharaman has made important announcements keeping in mind the future development of 10 important sectors of the country.
Let’s see who will benefit from this budget.
1 Agriculture:
In order to promote and modernize rural agriculture, emphasis has been placed on horticulture, fisheries and digital agriculture. To increase production, new ones will be planted instead of old and useless coconut trees. This will benefit 3 crore people, including 1 crore farmers. Programs have been introduced to make cashew and cocoa a premium brand on a global scale. The revival of sandalwood trees will also be encouraged.
500 reservoirs and Amrita Sarovars will be built for fishing. An AI-based platform called ‘Bharat-Vistaar’ has been introduced to help farmers make better decisions about crops, reduce risks and achieve better yields.
2. Education:
It has been announced to set up 5 university townships near industrial areas and build National Design Institutes in Eastern India to merge education and industry. To promote female education, hostels for women will be set up in STEM (Science, Technology, Engineering and Mathematics) institutions in all districts. 4 new or renovated telescope infrastructure facilities have been promised to promote astrophysics and astronomy research. The central government will set up a standing committee to bring together skill development, employment and AI technology.
3 MSME:
Rs 10,000 crore will be provided for small and medium enterprises. Rs 2,000 crore for the Self-reliant India Fund. will be given. Rs. 7 lakh crore will be given under TRADES (Trade Receivables Discount Scheme). A cadre called ‘Corporate Mitra’ will be started in Tier-2 and Tier-3 cities to reduce compliance burden.
4. Health:
To provide better health services in the country, 1 lakh health professionals (those who diagnose, treat and rehabilitate diseases) and 1.5 lakh caregivers will be trained in the next 1 year. 3 All India Ayurvedic Institutes and NIMHANS-2 will be set up. The capacity of district hospitals will be increased by 50% through the construction of new emergency and trauma care centres.
5 Financial Markets:
With the aim of strengthening this, a high-level committee on Banking for a Developed India will review the sector. Non-banking finance companies will be restructured. Cities issuing municipal bonds worth more than Rs 1,000 crore will get an additional Rs 100 crore. Investment by NRIs in Indian companies has also been increased.
6. IT sector:
From now on, software services, IT services, KPO (outsourcing of expert services), research and development will be considered under information technology services. The safe harbor margin (if a company’s profit reaches a certain percentage, then it can freely do any big business at the international level) for these has been fixed at 15.5%. This has been increased from Rs 300 crore to Rs 2,000 crore. As a result, medium-sized IT companies are relieved.
7. Transport:
Seven railway corridors like Hyderabad-Chennai, Mumbai-Pune, Pune-Hyderabad, Delhi-Varanasi, and Varanasi-Siliguri have been announced to provide fast rail transport. This will reduce travel time and accelerate the development of cities, giving a boost to the local economy.
8. Tourism:
To expand this sector, necessary facilities should be provided to tourists. For this, 5 regional medical centers with AYUSH centers and care facilities will be set up. The existing Hotel Management Board will be converted into a ‘National Hospitality Institute’. The cultural, spiritual and heritage sites of the country will be identified and a National Destination Digital Knowledge Grid will be developed. In addition, 15 traditional archaeological sites will be developed and the Buddhist circuit projects in the North-East will be strengthened.
9. Divyangjan:
‘Divyangjan Kaushal Yojana’ has been introduced to teach industrial skills to the disabled. In addition, the ‘Divyang Sahara Yojana’ has also been implemented jointly by Alimco and PM Divyasha Kendras for the development of artificial limbs, crutches, and Braille devices for such people.
10. Sports:
The Khelo India Mission has been announced to bring about significant changes in the sports sector in the decade. It focuses on talent identification, coach development, integration of sports science, and creation of modern sports infrastructure.