Union Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2021 on February 1. This is going to be India’s first-ever paperless Union Budget after Finance Minister Nirmala Sitharaman launched the Budget mobile app a few days ago.
Unlike the past, the voluminous Budget documents will not be printed this year, following the COVID-19 protocol, and will instead be distributed electronically to the Members of Parliament (MPs). The economy is still reeling from the effects of COVID-19. The budget comes against the backdrop of recession with growth in two consecutive quarters in the red.
Here are certain money-saving announcements likely to be announced by the Finance Minister:
Capital Gains
The treatment of equity mutual funds at par with unit-linked investment plans (ULIPs) is also on the Budget wishlist and while equity funds are subject to long-term capital gains at 10 percent above Rs 1 lakh, for a holding period of more than one year, ULIPs…