The journey of the budget papers 2021

Beginning:

In 2021, for the first time since independence, the Union Budget goes paperless. It means no budget Briefcase or bahikhata this year.

The tradition of carrying the Budget papers in a briefcase was handed over to us by the British. India’s Budget briefcase was a copy of the ‘Gladstone box’ that is used in the British budget.

In British one budget briefcase is passed on one from a finance minister to another, whereas in India different FMs used to carry different briefcase or bags.

The original glad stone bag had become so shabby that it was Officially retired from British service in 2010.

The budget briefcase comes into being used Gladstone’s speeches were extraordinarily long and he needed a briefcase to carry his speech paper.

On the budget day, the finance minister of India poses with the budget bag outside the parliament. In Britain, the chancellor of the exchequer poses with his suitcase in front of 11 Downing Street before the budget speech.

India’s first finance minister RK Shanmukham Chetty carried a leather portfolio to present the first Budget in 1947.

1970–2019 onwards, Indian finance minister Started carrying a hardbound briefcase. Unlike Britain, its shape and colors used to vary.

In 2019, FM Nirmala Sitharaman ditched the colonial legacy of a Bahi-Khata to carry union Budget paper.

Union Budget 2021, presented on February 1, was no bahikhata or briefcase because it was completely paperless. The decision has been taken in the wake of the ongoing coronavirus pandemic.

Announcements:

Mission Poshan 2.O

Jal Jeevan Mission Urban- The Urban Swachh Bharat scheme to be implemented with an outlay of over 1.4 lakh core rupees. 2.87 lakh crore rupees over 5 years.

AIM

• Universal water supply in all 4,378 urban local bodies.
• 2.86 crore rupees household tap connections.
• Liquid waste management in 500 AMRUT cities.

Railways

• 1,10,055 crore rupees to be provided for Indian railways.
• Indigenously developed automatic train protection system on high-density networks.
• 100% electrification of rail broad gauge routes by Dec 2023.

Fishing Harbours & Green Energy

5 major fishing harbours to be developed as hubs for economic activities these are Kochi, Chennai, Visakhapatnam, Paradip, Petuaghat.

Additional capital infusion of 1,000 crore rupees to solar Energy Corporation of India.

1.500 crore rupees to IREDA (Indian Renewable Energy Development Agency).

Startups

• Tax holiday extended by 1 year.
• Exemption on capital gains on investment extended by 1 year.

Economic Corridors

• 675kms in West Bengal at 25,000 crore rupees.
• 1,100kms in Kerala at 65,000 crore rupees.
• 1,300+ km in Assam at 34,000 crore rupees.
• 3,500 km of National Highway Works in Tamil Nadu at 1.03lakh crore rupees.

New Centrally Sponsored Scheme

• PM Aatmanirbhar Swasth Bharat Yojana.
• Outlay 64,180 crore rupees over 6 years.

AIM

To develop capacities of healthcare systems.

Develop institutions for detection and cure of new and emerging diseases.

COVID-19 Vaccine

35,000 crore rupees for the vaccine in the year of 2021–2022 government of India committed to provide more Funds. That’s it.

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