Budget 2021 live Updates: One Nation, One Ration Card scheme launched; Rs 1,10,055 crore to be provided for Indian Railways

The finance minister announced a new Centre-sponsored scheme One Nation, One Ration Card scheme launched through which beneficiaries can claim their rations anywhere in the country. The migrant workers in particular benefit from scheme. One Nation, One Ration Card plan is under implementation by 32 states & UTs.

Here is a look at the highlights of the budget.

• Barring four strategic areas, PSUs in other sectors will be divested, the finance minister saidannouncing the new disinvestment policy.

• Two PSBs and one general insurance company to be divested, legislations amendments to be introduced in this session, the finance minister said. The finance minister puts disinvestment receipts at Rs 1.75 lakh crore for fiscal year beginning April 1, 2021.

• The FDI in insurance increased to 74% from 49%. In 2021-22 we would also bring the IPO of LIC for which I am bringing the requisite amendments in this session itself, the finance minister said.

• A record sum of Rs 1,10,055 crore to be provided for Indian Railways, out of which Rs 1,07,100 has been reserved for capital expenditure.

• Allocation to rural infrastructure development increased from Rs 30,000 crore to Rs 40,000 cr in FY21.

• The MSP regime has undergone a change to assure price that is at least 1.5 times the cost of production across all commodities, the minister said.

• Around 43.36 lakh wheat growing farmers benefited from the government procurement under MSP as against 35.57 lakh previously.

• 1,000 more mandis to be integrated with electronic national market.

• The government raised the agriculture credit target to Rs 16.5 lakh cr in 2021-22.

• New centrally sponsored scheme PM Aatmanirbhar Swasth Bharat Yojana to be launched with an outlay of Rs 64,180 crore over 6 years.