01/02/2021
BUDGET 2021- ASSESSMENT BY J K RAM
1. Privatisation of two public sector banks.
2. Establishment of one Asset Reconstruction Company or Bad Bank which will buy or take over the NPAs of PSBs.
3. No fresh recapitalisation of PSBs.
4. Deposit insurance limit raised to Rs 5 lakh from 1 lakh per customer per bank.
5. On cancellation of license or temporary restrictions on transactions, customers can withdraw upto Rs 5 lakh maximum without waiting for liquidation.
6. One public sector general insurance company to be privatised, out of four.
7. Disinvestment in LIC of India.
8. Foreign investors in insurance sector raised to 74℅ from existing 24℅.
9. Foreign companies can won insurance companies.
10. Allocation in MNAREGA reduced.
11. Defense budget nominally increased.
12. No change in personal income tax.
13. Agriculture cess on petrol and diesel. Around Rs 4 on petrol and Rs 2 on diesel per litre.
14. Custom duty increased on mobile, mobile spare parts, cotton, silk, auto parts, etc.
15. Excise tax on liquor doubled.
16. No steps taken to generate fresh employment or to give any benefit to those who lost their jobs during Covid.
17. Health sector expenses increased by 135℅. Actually expenses under health, child and women development and nutrition have been shown under one head, instead of showing those under different heads.
18. They are going to sale warehouses, rail lines, hotels, gas pipelines, airports, surplus lands of railway, defense, PSUs, etc.
19. Allotment under Covid vaccine is too little. It shows we have to pay for our Covid vaccinations.
20. No mention of RRBs at all.
NOW YOU CAN HAVE YOUR ASSESSMENT OF THE BUDGET 2021.
