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Budget 2021: Finance Minister Nirmala Sitharaman presented the budget today in Lok Sabha
- EPF contributions of more than 2.5 lakh rupees will not see tax free interest – all such interest will be taxed.
- A new Agriculture Infrastructure and Development Cess will be imposed from Tuesday on customs duty levied on bullion, alcoholic beverages, coal and agri products ranging from apple to lentil.
- A cess of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel was also slapped but this was offset by a reduction of an equivalent amount in the excise duty – making it price neutral for consumers.
- Those above 75 years of age with only pension and interest income would no longer have to file income tax returns.
- Foreign direct investment (FDI) limit in insurance raised to 74 per cent from the current 49 per cent.
- Tax holiday for start-ups extended by one year to March 31, 2022.
- Exemption for purchase of affordable houses and tax exemption for affordable rental housing projects extended.
- Highway infrastructure plan for four poll-bound states -Tamil Nadu, West Bengal, Kerala and Assam.
- Voluntary vehicle scrapping scheme – 15 years for commercial vehicles.
- Rs 35,000 crore for Covid vaccines.
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