Budget 2021: Petrol Cess Of Rs 2.5/Litre, Rs 35,000 Crore For Vaccines: Big Budget Takeaways


2021-02-01 09:55:30

Petrol Cess Of Rs 2.5/Litre, Rs 35,000 Crore For Vaccines: Big Budget Takeaways

Budget 2021: Finance Minister Nirmala Sitharaman presented the budget today in Lok Sabha

  1. EPF contributions of more than 2.5 lakh rupees will not see tax free interest – all such interest will be taxed.
  2. A new Agriculture Infrastructure and Development Cess will be imposed from Tuesday on customs duty levied on bullion, alcoholic beverages, coal and agri products ranging from apple to lentil.
  3. A cess of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel was also slapped but this was offset by a reduction of an equivalent amount in the excise duty – making it price neutral for consumers.
  4. Those above 75 years of age with only pension and interest income would no longer have to file income tax returns.
  5. Foreign direct investment (FDI) limit in insurance raised to 74 per cent from the current 49 per cent.
  6. Tax holiday for start-ups extended by one year to March 31, 2022.
  7. Exemption for purchase of affordable houses and tax exemption for affordable rental housing projects extended.
  8. Highway infrastructure plan for four poll-bound states -Tamil Nadu, West Bengal, Kerala and Assam.
  9. Voluntary vehicle scrapping scheme – 15 years for commercial vehicles.
  10. Rs 35,000 crore for Covid vaccines.
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