The government has given relief to the banks in the public sector.
Banking Sector Budget 2021: Finance Minister Nirmala Sitharaman said that Rs 20,000 crore capital will be infused in public sector banks in FY 2021-22.
- Last Updated:February 2, 2021, 1:07 AM IS
There will be a big change in the insurance sector
Nirmala Sitharaman has made a big announcement for the insurance sector. Foreign direct investment (FDI) in the insurance sector has been increased from 49 percent to 74 percent. Explain that the insurance industry and insurance regulator IRDAI were in favor of increasing foreign investment.
Explain that the contribution of insurance sector in India is negligible in GDP. More than half of the people of India do not even have health insurance. In this budget, the finance minister has also made big announcements regarding the health sector. This time the health budget has increased by 135 percent compared to last year. In the general budget, ‘Self-sufficient Healthy India Scheme’ has been announced. It has been decided to spend 64 thousand 180 crore rupees by the government for this scheme. In the budget, Rs 35000 crore has been provided for the corona vaccine, which can be given more if needed. The Finance Minister set a capital expenditure target of Rs 5.54 lakh crore for the next financial year against Rs 4.39 lakh crore in the current financial year.
Over 1 lakh crore rupees for Railways
The government announced a plan of Rs 18,000 crore on Monday to strengthen public transport in urban areas. Finance Minister Nirmala Sitamaran presented the first digital general budget in the Lok Sabha and said that by December 2023, there will be 100 percent electrification of broad gauge rail tracks. He said that a record Rs 1,10,055 crore will be provided for the Railways, out of which Rs 1,07,100 crore will be earmarked for capital expenditure in 2021-22.