Posted on 02-02-2021 by Admin
Custom duty on some auto parts has been increased to 15 percent. Some products will be expensive due to increase in custom duty, but this will boost manufacturing and MSMEs in the country.
While the prices of mobile phones and chargers, auto parts and silk products have increased from the general budget, the price of gold, silver, steel, iron, nylon cloth etc. has come down.
Indicated to reduce custom duty on gold and silver, this has reduced their prices. On the other hand, customs duty will increase on some parts of mobile.
Apart from mobile, it has been announced to increase the agriculture sector from zero to 10 percent on cotton and 10 to 15 percent on silk products. Custom duty on some auto parts has been increased to 15 percent. Some products will be expensive due to the increase in custom duty, but this will boost manufacturing and MSMEs in the country as well as strengthen the Vocal for Local campaign of self-sufficient India. The prices of iron and steel will also come down.
The situation regarding jobs is not clear: The employment situation is not made clear in the budget. This has hit the dream of jobs and employment of the youth.
Last year, how many got employment, did not give any data.
Only by investing more on infrastructure showed the dream of increasing employment.
Effect: About 200 million people have been disappointed by this. These include about 40 million students looking for jobs.
Focus on increasing farmers income: It has been announced to spend Rs 1.72 lakh crore next year on farming. In this, it has been announced to spend 40 thousand crores on 1 thousand new mandis, Agri Fund for Agricultural Produce Market Committee (APMC), 5 new fishing hubs and rural infra.
No commission formed to consider schemes and income beneficial to farmers.
Impact: About 14 crore farmers have despair on the income front
In this budget there is more focus on the sale of government property. The government wants to sell this year to BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Nilanchal Inspat Nigam Limited.
The target of selling the assets will be reduced to Rs 1.75 lakh crore. did.
Impact: This step will reduce the opportunities of government jobs for the youth and will encourage privatization.
Rs 34.83 lakh crore has been earmarked for spending in the budget. But no budget roadmap has been mentioned in this budget. This time there is more focus on loans. However, agri cess has been imposed on petrol at Rs 2.5 and diesel at Rs 4, which will increase revenue but not much.
The target is to take a loan of 12 lakh crore rupees next year.
The gross tax is estimated to be around 22 lakh crore rupees.
Effect: This will put a burden on the country s economy. You will have to spend more money to pay interest on the loan.