Budget 2021 Highlights: Inclusive Development for Aspirational India and Reinvigorating Human Capital | 03 Feb 2021

Why in News

Recently, the Finance Minister presented the Union Budget 2021-22. This was the first digital budget.

• This section deals with the theme ‘Inclusive Development for Aspirational India and Reinvigorating Human Capital’.

Key Points

• Inclusive Development for Aspirational India:
  
  • Agriculture:
    
    • Ensured Minimum Support Price (MSP) at minimum 1.5 times the cost of production across all commodities.
    • SWAMITVA Scheme to be extended to all States/UTs.
    • Operation Green Scheme to be extended to 22 perishable products, to boost value addition in agriculture and allied products.
    • 1,000 more mandis to be integrated with the National Agricultural Market (e-NAM) to bring transparency and competitiveness.
    • APMCs (agricultural produce market committee) to get access to the Agriculture Infrastructure Funds for augmenting infrastructure facilities.
  • Fisheries:
    
    • 5 major fishing harbours – Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat to be developed as hubs of economic activity.
    • Multipurpose Seaweed Park in Tamil Nadu to promote seaweed cultivation.
  • Migrant Workers and Labourers:
    
    • One Nation One Ration Card scheme for beneficiaries to claim rations anywhere in the country - migrant workers to benefit the most.
    • Portal to collect information on unorganized labour force, migrant workers especially, to help formulate schemes for them.
    • Implementation of 4 labour codes underway:
      
      • Social security benefits for gig and platform workers too.
      • Minimum wages and coverage under the Employees State Insurance Corporation applicable for all categories of workers.
      • Women workers allowed in all categories, including night-shifts with adequate protection.
      • Compliance burden on employers reduced with single registration and licensing, and online returns.
  • Financial Inclusion:
    
    • Under Stand Up India Scheme for Scheduled Castes (SC), Scheduled Tribes (ST) and women,
      
      • Margin money requirement reduced to 15%.
      • To also include loans for allied agricultural activities.
• Reinvigorating Human Capital:
  
  • School Education:
    
    • 15,000 schools to be strengthened by implementing all National Education Policy (NEP) components. Shall act as exemplar schools in their regions for mentoring others.
    • 100 new Sainik Schools to be set up in partnership with NGOs/private schools/states.
  • Higher Education:
    
    • Legislation to be introduced to set up the Higher Education Commission of India as an umbrella body with 4 separate vehicles for standard-setting, accreditation, regulation, and funding.
    • Creation of formal umbrella structure to cover all Government colleges, universities, research institutions in a city for greater synergy.
    • Central University to come up in Leh for accessibility of higher education in Ladakh.
  • Scheduled Castes and Scheduled Tribes Welfare:
    
    • 750 Eklavya model residential schools in tribal areas.
    • Revamped Post Matric Scholarship Scheme for welfare of SCs.
  • Skilling:
    
    • Proposed amendment to Apprenticeship Act to enhance opportunities for youth.
    • Rs. 3000 crore for realignment of existing National Apprenticeship Training Scheme (NATS) towards post-education apprenticeship, training of graduates and diploma holders in Engineering.
    • Initiatives for partnership with other countries in skilling to be taken forward, similar to partnership:
      
      • With UAE to benchmark skill qualifications, assessment, certification, and deployment of certified workforce.
      • With Japan for a collaborative Technical Intern Training Programme (TITP) to transfer skills, technique and knowledge.
  • Innovation and Research & Development:
    
    • National Language Translation Mission (NTLM) to make governance-and-policy related knowledge available in major Indian languages.
    • PSLV-CS51 to be launched by New Space India Limited (NSIL) carrying Brazil’s Amazonia Satellite and some Indian satellites.
    • As part of the Gaganyaan mission activities:
      
      • 4 Indian astronauts being trained on Generic Space Flight aspects, in Russia.
      • First unmanned launch is slated for December 2021.
    • Rs. 4,000 crore over five years for Deep Ocean Mission survey exploration and conservation of deep sea biodiversity.

Source:PIB