The Union Budget of India (2020-2021): Sector Division

The Budget 2020-2021 has been framed on the basis that 'Governance' and 'Finances' are the two major hands in achieving the three themes of the budget.

The three major themes include - 'Aspirational India', 'Economical Development' and 'Caring India'.

The Budget has allocated funds for the following in the efforts of Achieving five trillion USD economy.

 Investment Sector Destruction

1. 69,000 crore out of 6,400 crores for the healthcare sector to be invested for the Ayushman Bharat scheme.

• The shortage of medical professionals will be addressed by converting existing district hospitals to medical colleges through public-private partnerships schemes.
• With the increase in doctors, the baby boomers, who are most susceptible to health disorders can get more attention now which was difficult before.
• Special bridge courses proposed by the ministry of health and family welfare to meet the requirements of nurses, teachers and paramedics.
• Ayushman Bharat scheme provides a health coverage of Rs 5 lakh per family annually.

2. 1,23,000 crore allocated for rural development of the country.

• The baby boomers we chose, allocated Rs 61,500 crore in 2020-21 towards MNREGA(Mahatma Gandhi National Rural Employment Guarantee Act).
• A total of Rs 75,000 crore to be invested towards the scheme of Pradhan Mantri Kisan Samman Nidhi in 2020-21.
• The government has allocated Rs 10,000 crore towards the scheme Pradhan Mantri Awas Yojna-Gramin in its budget for 2020-21.

3. 1,17,000 crore for Infrastructure of Transportation improving connectivity via road, rail , air and waterways.

• A total of 12  lots of highways bundles will be monetized by 2024 creating a fast pace transportation network.
• The ministry  also proposed to set up a 9,000 km economic corridor and 2,000 km coastel corridor and strategic highways. Delhi-Mumbai expressway that is currently in the works will be completed by 2023.
• The government will also provide 20% equity for the Bengaluru suburban transportation project, which is worth Rs 18,600 crores.

4. The education sector gets 99,300 crores for the members of Generation Z, to create the foundation of the country.

• Degree level full-fledged online education system to be started by the top 100 institutes in the country for the deprived section of society.
• Under Study in India program, IND-SAT exams to be held in Asian and African countries to benchmark foreign candidates. 
• National police and forensics science universities have been proposed.

5. 27,300 crore for development of the industry and commerce sector which creates opportunities for Millennials and the country.

• India for a millennium has been a hub for trade and entrepreneurship and to continue the legacy, this new entrepreneurs by reimbursing the taxation scheme.
• Immense job creation with the development of the manufacturing industry for electronics, semiconductor packaging and medical equipment.
• The national technical textile mission proposed for 4 years at an investment of 1,480 crores with the new scheme, the NIRVIK to achieve the highest export credit disburment and reversion of duties and taxes on exported products.

6. 100 more airports to be developed by 2024 to support the UDAN scheme.

• The government plans to set up 100 more airports by 2025 under the Regional Connectivity Scheme(RCS), also known as UDAN or Ude Desh ka Aam Naagrik.
• Under the program, airlines compete to win subsidies for operating flights linking small airports with the bigger ones.

The new budget reaches out for everyone and every generation from the Baby boomers to the Millenials and the new generation, Gen Z is ostentatious to it. With more hospitals and doctors the baby boomers get more medical attention required. Also, the transportation sector promises easy and quick travel options for everyone. The Millenials have a great business opportunity with tax benefits for entrepreneurship and huge investment in the industrial and technology sector creating jobs and commercial growth. For Generation Z i.e. the new generation, the government is offering new and modern educational infrastructure with plans to boost the economy in the future by investing in the youth today.

Cedrus Wealth Partners

Pune, Maharastra.

www.cedruswealth.com