Important announcements and Schemes in Union Budget 2020-21

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 Important announcements and Schemes in
Union Budget 2020-21

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Read more on - Polity | Economy | Schemes | S&T | Environment

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Vision for Atmanirbhar Bharat - Six Pillars

1. Health & Well-Being
2. Physical & Financial Capital & Infrastructure
3. Inclusive development for aspirational India
4. Reinvigorating human capital
5. Innovation & R&D
6. Minimum Govt & Maximum Governance.

• Health and Well Being: 

1. PM Atmanirbhar Swasth Bharat Yojana: PM Atmanirbhar Swasth Bharat Yojana to be launched to develop primary, secondary and tertiary healthcare systems, strengthen existing health systems and support future health interventions with an outlay of about 64,180 crores over 6 years. This will be in addition to the National Health mission and will support 17,000 rural and 11,000 urban health care centres. Mission Poshan 2.0 to be launched to improve nutritional outcomes across 112 aspirational districts. 
2. Jal Jivan Urban Mission: Urban Jal Jeevan Mission to be launched and implemented over five years with an outlay of Rs 2.87 lakh crore. 
3. Urban Swacch Bharat Mission to implemented over five years with an outlay of Rs 2.87 lakh crore. 
4. Clean Air Programme: Proposal to allocate  Rs. 2,217 crore for 32 urban centres to tackle the burgeoning air pollution problem. 
5. Voluntary Vehicle Scrapping Policy to phase out old vehicles and reduce vehicular pollution vehicles will undergo fitness tests after 20 years in private vehicles, 15 years in case of commercial vehicles. 
6. Pneumococcal vaccine rollout - The pneumococcal vaccine, which is limited to only 5 states at present, will be rolled out across the country. This will avert more than 50,000 child deaths annually. 
7. COVID-19 vaccine - The Finance Ministry has provided Rs 35,000 crores for COVID-19 vaccine in this year 2021-22. The Ministry is committed to provide further funds if required.

• Physical and Financial Capital & Infrastructure: 

1. The PLI scheme - The FM stated that to realise five trillion dollar economy, India's manufacturing sector has to grow in double digits for a sustained period. A PLI scheme has been announced for 13 sectors to achieve the same with an outlay of Rs 1.97 lakh crore over the next 5 years. Mega Investment Textile Parks- 7 textile parks will be added in the next three years.
2. National Infrastructure Pipeline: The National Infrastructure Pipeline (NIP) was launched with 6835 projects, which has now expanded to 7400 projects. The NIP will require major funding from both centre and financial sector. 
3. Proposal to set up Development Finance Institution at a cost of Rs 20,000 crore.
4. A national monetising pipeline will be launched and a dashboard will be created to overlook the progress. 
5. Propose sharp increase in Capital expenditure: The Finance Minister has proposed a sharp increase in Capital Expenditure & thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE 2020-21.  
6. Roads & Highways: Over 13,000 km length of roads at a cost of Rs 3.3 lakh cr has already been awarded under Rs 5.35 lakh cr Bharatmala project of which 3,800 kms have been constructed
7. Railway Infrastructure - National Railway Plan: The Indian Railways has prepared a National Rail Plan for India 2030. The plan is to create a future-ready railways system by 2030. The government aims to bring down the logistic cost for industry to enable Make in India. The Finance Minister proposed to provide a record sum of Rs 1,10,055 crores for Railways of which Rs 1,07,100 crores is for Capital Expenditure only. Western & Eastern dedicated freight corridors to be commissioned soon. High Density network &highly utilised network routes of Railways will be provided with train protection system to eliminate train collision incidents due to human error. Vistadome coaches to be integrated in all tourist corridors. 100% electrification will be completed by 2023. 
8. Urban Infrastructure: New scheme to be launched to support augmentation of public bus service. it will boost automobile sector and create employment opportunities for the youth and enable smooth mobility to citizens. 
9. Power Sector: The centre has proposed creation of a framework to allow consumers of electricity alternatives to choose from more than one distribution company.
10. National Hydrogen Mission: A comprehensive National Hydrogen Mission will be launched in 2021-22 for generating hydrogen from green power sources.
11. Shipping and ports: The major ports will be moved from operating services on their own and they can enter into public-private partnership to get private players to operate and manage it for them. 
12. Ujjwala scheme,  which has benefited 8 crore households so far, will be extended to cover 1 crore more beneficiaries.
13. Financial Capital: (i) Single securities market code: Centre to consolidate the provisions of the Sebi Act, Depositories Actand two other laws, into a Unified Securities Market Code. (ii) Investor Charter: Investor Charter to be introduced as a right for all investors in all financial products to enable investor protection. (iii) Insurance Act 1938 proposed to be amended to increase the permissible FDI limit from 49% to 74% and allow foreign ownership & control with safeguards. (iv) Asset reconstruction company to be set up to take over stressed loans. (v) Asset reconstruction and Asset management companies will be set up for value realisation. (vi) Deposit insurance: The centre has approved an increase in the cover from Rs 1 lakh to Rs 5 lakh for bank depositors. (vii) FM Sitharaman further proposed decriminalisation of the Limited Liability Partnership Act of 2008. 
14. Disinvestment: Two PSU bank and one general insurance firm to be disinvested. IPO of LIC to debut this year. Strategic sale of Air India, IDBI Bank and BPCL to be completed in 2021-22. The centre has also undertaken a  detailed exercise to rationalise centrally sponsored schemes on the recommendation of the Fifteenth Finance Commission.

• Inclusive development for Aspirational India: 

1. Agriculture & Allied Sectors: Operation Green Scheme to be enlarged to cover 22 perishable crops. 1000 more mandis to be integrated with E-NAM market place. Agricultural Infrastructure funds will be made available to APMCs for augmenting their infrastructure. MSP increased to 1.5 times. 
2. Wheat Procurement - A total of Rs 33,874 crore was paid to farmers in  2013-14 and this was increased to Rs 62,804 crore in  2019 -20 and Rs 75,050 crore in 2020-21.
3. Paddy Procurement- The amount paid for paddy was Rs 53,928 crore in 2013-2014 and in 2019-20, this increased to Rs 1.41 lakh crore and it is further estimated to increase to Rs.  1,72,752 crore in 2020-21. 
4. Fisheries - Five major fishing harbours to be developed into fishing hubs for economic activity including Chennai, Kochi, Paradip, Petuaghat and Visakhapatnam. Seaweed farming to be promoted -Multipurpose seaweed park to be established in Tamil Nadu

• Reinvigorating human capital:

1. Setting up of Higher Education Commission
2. New Sainik Schools will be set up in partnership with NGOs, private schools, and states.  
3. Proposal to set up central university in Leh
4. 750 Eklavya schools will be set up in tribal areas.
5. Propose to increase cost of Eklavya schools for schedule caste and schedule tribe students
6. 35219 crores to benefit 4 crore scheduled caste students. 
7. National research foundation to be set up with an outlay 50000 crores
8. More than 15,000 schools will be strengthened under NEP 2020.

• Innovation & R&D: 

1. Gaganyaan Mission: The first unmanned launch of the Gaganyaan Mission is slated for dcember 2021
2. Deep ocean mission to be launched for the conservation of deep sea biodiversity. 

• Minimum Govt & Maximum Governance:

1. First Digital Census to be launched. The centre has allocated Rs 3,758 crore for the same this year.  
2. Rs.1000 crore proposed for welfare of tea workers, especially women and children, in Assam and West Bengal 
3. Rs 300 crore to be granted to Goa government to celebrate 50 years of liberation from the Portuguese.  
4. Migrant workers and labourers: (i) One nation one ration card scheme implemented by 32 states and union territories- covering 86 percent of beneficiaries. (ii) The remaining four states/ UTs to be integrated soon. (iii) New proposal for portal for migrant workers. (iv) The portal will maintain information on gig workers and construction workers, which will help provide benefits to migrant workers. (v) It will help formulate health, housing, skill, insurance credit & food schemes for migrant workers. (vi) Social security benefits to be extended to gig and platform workers. (vii) Minimum wage to apply to all categories of workers. (viii) This will be ensured through the four new labour codes. (ix) Women will be allowed to work in all categories and also in night shifts with adequate protection. (x) To further facilitate credit flows for Standup India scheme for SCs, STs and women, the Finance Minister proposed to reduce the margin capital required for loans from 25% to 15%. 
5. Atmanirbhar Bharat Package: PM had announced the launch of Atmanirbhar Bharat Abhiyan on May 12, 2020. The special economic package worth Rs 20 lakh crore was launched with an objective to make India self-reliant. During his address to the nation, the Prime Minister had urged people to be vocal about local. The Atmanirbhar Bharat package was launched to provide relief to those sections of the population who have contributed significantly to the country's growth including farmers, labourers and Indian taxpayers- the middle class and the industry. The packages reportedly helped in accelerating reforms in the country. 

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