Budget 2021: Finance Minister Nirmala Sitharaman presented India’s first paperless budget post-Independence. During her address, the Finance Minister announced a slew of measure to revive the Covid hit Indian economy. For the electronic sector, the Finance Minister announced that 1000 new mandis will be integrated with the Electronic National Market. Also Read – Liquor to Become Costlier After New Tax in Budget 2021? Deets Inside
“Domestic electronic manufacturing has grown rapidly. For greater domestic value addition we’re withdrawing a few exemptions on part of chargers & sub-parts of mobiles. Further some parts of mobiles will move from nil rate to a moderate 2.5 per cent,” Finance Minister Nirmala Sitharaman. Also Read – Budget 2021: Contributing Rs 2.5 Lakh or More to PF Annually? This Major Announcement is For You
While announcing the Union Budget for 2021-21, Finance Minister Nirmala Sitharaman said the Centre will launch a Rs 3,05,984 crore scheme to reform the power distribution sector in the country. Also Read – Sitharaman Deceived Poor, Working Class, Migrants, Farmers: P Chidambaram on Budget 2021
Finance Minister said there is a monopoly of distribution companies across the country and the sector demands competitiveness. ”A framework will be put in place to give consumers alternatives to choose from among more than one distribution company,” she added.
She further said that the viability of distribution companies “serious a concern”. The Finance Minister announced a Rs 3,05,984 crore electricity distribution reform scheme over 5 years in order to empower electricity distribution companies (discoms). The major features of the scheme include prepaid smart metering, feeder separation and up-gradation system.
In the budget announcement, Sitharaman said an additional 100 districts will be added for city gas distribution in the next 3 years. An independent gas transport system operator will be established in this regard. Further Ujjwala Scheme will be extended to cover 1 crore more beneficiaries.
Finance Minister also announced the Hydrogen Energy Mission 2021-22 for generating hydrogen from green sources.
