Budget 2021 Highlights | Budget 2021 Explained

In this live video, we discuss the Budget 2021 highlights. We have also tried to explained quite a few aspects of the India's 2021-22 Budget delivered by Finance Minister Nirmala Sitharaman. The union budget 2021 was well received by the stock markets as well. However, there were no relaxation in income tax rates for the middle class. We have discussed the reasons behind that. 

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We have discussed the following points and more announced in India's budget announced on 1st Feb 2021.

Budget 2021 Highlights

1. Creation of body to support bond markets which will buy investment grade bonds during both stressed and non stressed times 

2. Regulated gold exchanges with SEBI as regulator 

3. Deposit insurance - making deposits available also when banks are temporarily unable to honor deposits

4. LIC IPO on cards

5. 1500 crores earmarked to promote digital payments

6. Goa granted 300 crores for 50th year celebration

7. Fiscal deficit for 2020-21 pegged at 9.5%. Another 80K crores needed for which govt. will approach markets. 

8. 2021-2022 - Fiscal deficit to be at 6.8%. Below 4.5% by 2025-26. Original target was till 3% by 2020-21.

9. Contingency fund from 500 crores to 30K crores. 

10. Above 75 years of age only pension + interest income - no ITR. Paying bank will deduct the tax.

11. TDS form will come pre-filled with details of capital gains from listed securities. 

12. Zero coupon bonds by Infrastructure debt fund available for tax benefit

13. ULIP and PF - Tax exemption on interest for contribution of only upto 2.5L. Applicable after 1st Apr 2021.

This video was streamed live at 10 PM on 1st Feb 2021.