Ministry of Finance

NEW LEGISLATION TO REPLACE SPECIAL ECONOMIC ZONES ACT

WORLD-CLASS FOREIGN UNIVERSITIES IN GIFT CITY TO OFFER COURSES, LARGELY FREE FROM DOMESTIC REGULATIONS

INTERNATIONAL ARBITRATION CENTRE TO BE SET UP IN GIFT CITY

GIFT CITY TO FACILITATE SERVICES FOR GLOBAL CAPITAL FOR SUSTAINABLE & CLIMATE FINANCE IN THE COUNTRY

Dated: 01 FEB 2022

“The Special Economic Zones Act will be replaced with a new legislation that will enable the states to become partners in Development of Enterprise and Service Hubs”, said the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting the Union Budget for 2022-23, in Parliament today. She added that this would cover all large existing and new industrial enclaves to optimally utilize available infrastructure and enhance competitiveness of exports.

She also proposed various initiatives to make GIFT City more attractive.

GIFT-IFSC

The Finance Minister proposed that World-class foreign universities and institutions would be allowed in the GIFT City to offer courses in Financial Management, FinTech, Science, Technology, Engineering and Mathematics free from domestic regulations, except those by IFSCA to facilitate availability of high-end human resources for financial services and technology.

       Smt. Sitharaman also proposed an International Arbitration Centre which would be set up in the GIFT City for timely settlement of disputes under international jurisprudence. Further, she said that services for global capital for sustainable & climate finance in the country would be facilitated in the GIFT City.

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RM/BB/SJ
(Release ID: 1794135)

 

Ministry of Finance

TAXPAYERS CAN FILE UPDATED INCOME TAX RETURN WITHIN TWO YEARS

TAX RELIEF TO PERSONS WITH DISABILITY

TAX DEDUCTION LIMIT ON EMPLOYER’S CONTRIBUTION TO NPS ACCOUNT OF STATE GOVERNMENT EMPLOYEES INCREASED TO 14% FROM 10%

INCOME FROM VIRTUAL DIGITAL ASSETS TRANSACTIONS TO BE TAXED AT 30%

NEW STEPS TO AVOID REPEAT LITIGATIONS WITH TAXPAYERS

Dated: 01 FEB 2022

The Government proposes to permit taxpayers to file an updated return on payment of additional tax within two years from the end of the relevant assessment year announced the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman while presenting the Union Budget 2022-23 in the Parliament today. She said this would give taxpayers an opportunity to correct any omissions or mistakes in correctly estimating their income for tax payment. She pointed out that currently, if the department finds out that some income has been missed out by the assessee, it goes through a lengthy process of adjudication, the new proposal would repose trust in the taxpayer. She said “It is an affirmative step in the direction of voluntary tax compliance”.

Tax Relief to Persons with Disability

The law currently provides for deduction to the parent or guardian when they take an insurance scheme for the differently abled person only if the lump sum payment or annuity is available to the differently abled person on the death of the subscriber. Pointing out that there could be situations where differently abled dependants may need payment of annuity or lump sum amount even during the lifetime of their parents/guardians, Smt. Sitharaman announced that the Government proposes to allow the payment of annuity and lump sum amount to the differently abled dependent during the lifetime of parents/guardians, on subscribers attaining the age of sixty years.

 

Parity between Employees of State and Central Government

The minister said that to enhance the social security benefits of the State government employees and bring them at par with the central government employees, the Government proposes to increase the tax deduction limit to 14 per cent from 10 per cent on employer’s contribution to the NPS account of State Government employees.

Scheme for Taxation of Virtual Digital Assets

Stating that the magnitude and frequency of transactions in virtual digital assets have increased phenomenally, Smt. Sitharaman announced that “any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent”. She said that the scheme would not allow any deduction in respect of any expenditure or allowance while computing such income except cost of acquisition. Further she said, loss from transfer of virtual digital asset cannot be set off against any other income. The minister also added that in order to capture the transaction details, the Government would also make a provision to provide for TDS on payment made in relation to transfer of virtual digital asset at the rate of 1 per cent of such consideration above a monetary threshold. Gift of virtual digital asset is also proposed to be taxed in the hands of the recipient, she said.

Litigation Management

Smt. Sitharaman stated that “a lot of time and resources are consumed in filing of appeals which involve identical issues”. In order to take forward the Government’s policy of sound litigation management and reduce repeated litigation between taxpayers and the department, the Government would make a provision that if a question of law in the case of an assessee is identical to a question of law which is pending in appeal before the jurisdictional High Court or the Supreme Court in any case, the filing of further appeal in the case of this assessee by the department shall be deferred till such question of law is decided by the jurisdictional High Court or the Supreme Court.

 

 

The minister also thanked the taxpayers of the country who have contributed immensely and strengthened the hands of the Government in helping their fellow citizens in the hour of need.

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RM/BB/BY/KAK

(Release ID: 1794131) 

 

CO-OPERATIVES TO PAY ALTERNATE MINIMUM TAX AND SURCHARGE AT REDUCED RATE OF 15% AND 7% RESPECTIVELY

INCORPORATION DATE FOR START-UPS AND NEW MANUFACTURING ENTITIES TO BE ELIGIBLE FOR TAX INCENTIVES EXTENDED BY AN YEAR

NEW TAX INCENTIVES TO MAKE IFSC ATTRACTIVE

BUSINESSES MANDATED TO CUT TDS ON BENEFITS THEY GIVE TO AGENTS IF AGGREGATE VALUE OF SUCH BENEFITS EXCEED Rs. 20,000 IN A YEAR

SURCHARGE ON LONG TERM CAPITAL GAINS ARISING FROM ALL ASSETS CAPPED AT 15%

SURCHARGE AND CESS ON INCOME AND PROFITS NOT ALLOWED AS BUSINESS EXPENDITURE

PRACTICE OF SETTING OFF, OF LOSSES TO AVOID TAX ON UNDISCLOSED INCOME DETECTED DURING SEARCH AND SURVEY NOT TO BE PERMITTED

Dated: 01 FEB 2022

The Government, in order to provide a level playing field between co-operative societies and companies proposes to reduce the Alternate Minimum Tax rate for co-operative societies to 15 per cent from the current 18.5 per cent announced the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman while presenting the Union Budget 2022-23 in the Parliament today. She added that the Government also proposes to reduce the surcharge on co-operative societies to 7 per cent from 12 per cent at present for those having total income of more than Rs. 1 crore and up to Rs. 10 crore. She said that this would help enhance the income of cooperative societies and its members who are mostly from rural and farming communities.

Incentives to Start-ups

Stating that start-ups have emerged as drivers of growth for our economy, the Minister, in order to assist them during the COVID-19 pandemic, proposed to extend the period for incorporation of the eligible start-up by one more year up to 31^st March 2023 to provide them tax incentive for three consecutive years out of ten years from incorporation. This incentive was earlier available to eligible start-ups established before 31^st March 2022.

Incentives to Newly Incorporated Manufacturing Entities

Smt. Sitharaman said that to establish a globally competitive business environment, a concessional tax regime of 15 per cent tax was introduced by the Government for certain newly incorporated domestic manufacturing companies. The Government proposes to extend the last date for commencement of manufacturing or production under section 115BAB by one year to 31^st March 2024 from 31^st March 2023.

Incentives to IFSC

The minister said that to promote the IFSC, the Government proposes to provide that income of a non-resident from offshore derivative instruments, or over the counter derivatives issued by an offshore banking unit, income from royalty and interest on account of lease of ship and income received from portfolio management services in IFSC shall be exempt from tax, subject to specified conditions.

Rationalisation of TDS Provisions

Noting that as a business promotion strategy, there is a tendency on businesses to pass on benefits to their agents, which are taxable in the hands of the agents, Smt Sitharaman said that in order to track such transactions, the Government proposes to provide for tax deduction by the person giving benefits, if the aggregate value of such benefits exceeds Rs. 20,000 during the financial year.

Rationalisation of Surcharge

Smt. Sitharaman pointed out that several works contracts terms and conditions require formation of a consortium mandatorily whose members are generally companies. She said in such cases, the income of these AOPs has to suffer a graded surcharge up to 37 per cent, which is a lot more than the surcharge on the individual companies. Therefore, she proposed to cap the surcharge of these AOP’s at 15 per cent. Further, she highlighted that the long-term capital gains on listed equity shares, units among others are liable to maximum surcharge of 15 per cent, while the other long term capital gains are subjected to a graded surcharge which goes up to 37 per cent. The Government proposes to cap the surcharge on long term capital gains arising on transfer of any type of assets at 15 per cent. The minister added that this proposal would “give a boost to the start up community and along with my proposal on extending tax benefits to manufacturing companies and start-ups reaffirms our commitment to Atma Nirbhar Bharat”.

Clarification on Health & Education Cess

Stating that the ‘Health and Education Cess’ is imposed as an additional surcharge on the taxpayer for funding specific government welfare programs, the minister, to reiterate the legislative intent, proposed to clarify that any surcharge or cess on income and profits is not allowable as business expenditure. She said that income-tax also includes surcharge and observed that it is “not an allowable expenditure for computation of business income”.

Deterrence Against Tax Evasion

Smt. Sitharaman announced that the Government proposes to provide that no set off, of any loss shall be allowed against undisclosed income detected during search and survey operations. She pointed out that It has been observed that in many cases where undisclosed income or suppression of sales among others is detected, payment of tax is avoided by setting off, of losses. This proposal would bring certainty and would increase deterrence among tax evaders, stated the minister.

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RM/BB/BY/KAK

(Release ID: 1794147)

KEY HIGHLIGHTS OF THE ECONOMIC SURVEY 2021-22

Posted On: 31 JAN 2022 3:14PM by PIB Delhi

9.2 PERCENT GROWTH EXPECTED IN REAL TERMS IN 2021-22

GDP PROJECTED TO GROW 8.0-8.5 PERCENT IN 2022-23

PANDEMIC: GOVERNMENT’s SUPPLY SIDE REFORMS PREPARING ECONOMY FOR SUSTAINED LONGTERM EXPANSION 

CAPEX GROWS BY 13.5 PERCENT (YoY) DURING APRIL-NOVEMBER, 2021

FOREIGN EXCHANGE RESERVES TOUCH  US$ 633.6 BILLION ON 31st DECEMBER, 2021 

MACROECONOMIC STABILITY INDICATORS SUGGEST ECONOMY WELL PLACED TO TAKE ON CHALLENGES OF 2022-23
MASSIVE GROWTH IN REVENUE RECEIPTS

SOCIAL SECTOR: EXPENDITURE ON SOCIAL SERVICES AS PROPORTION OF GDP INCREASES TO 8.6 PERCENT IN 2021-22 (BE) AS COMPARED TO 6.2 PERCENT IN 2014-15 

WITH REVIVAL OF ECONOMY, EMPLOYMENT INDICATORS BOUNCED BACK TO PRE-PANDEMIC LEVELS DURING LAST QUARTER OF 2020-21

MERCHANDISE EXPORTS AND IMPORTS REBOUND STRONGLY AND SURPASS PRECOVID LEVELS 

BANK CREDIT ACCELERATES TO 9.2 PERCENT AS ON 31st DECEMBER, 2021

Rs 89,066 CRORE RAISED VIA 75 IPOs; SIGNIFICANTLY HIGHER THAN IN ANY YEAR IN LAST DECADE

CPI-C INFLATION MODERATES TO 5.2 PERCENT IN 2021-22 (APRIL-DECEMBER)

FOOD INFLATION AVERAGES AT A LOW OF 2.9 PERCENT IN 2021-22 (APRIL-DECEMBER)

EFFECTIVE SUPPLY SIDE MANAGEMENT KEEPS PRICES OF MOST ESSENTIAL COMMODITIES UNDER CONTROL

AGRICULTURE: GVA REGISTERS BUOYANT GROWTH OF 3.9% IN 2021-22

RAILWAYS: CAPITAL EXPENDITURE SEES SUBSTANTIAL INCREASE TO Rs. 155,181 CRORE IN 2020-21; BUDGETED TO FURTHER INCREASE TO Rs. 215,058 CRORE IN 2021-22, A FIVE TIMES INCREASE COMPARED TO 2014 LEVEL 

PER DAY ROAD CONSTRUCTION INCREASES TO 36.5 KMS IN 2020-21 – RISE OF 30.4 PERCENT COMPARED TO THE PREVIOUS YEAR

SDGs: OVERALL SCRORE ON NITI AAYOG DASHBOARD IMPROVES TO 66 IN  2020-21
 

The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman presented the Economic Survey 2021-22 in Parliament today. The highlights of the Economic Survey are as follows:

 

State of the Economy:

• Indian economy estimated to grow by 9.2 percent in real terms in 2021-22 (as per first advanced estimates) subsequent to a contraction of 7.3 percent in 2020-21. 
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• GDP projected to grow by 8- 8.5 percent in real terms in 2022-23.  
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• The year ahead poised for a pickup in private sector investment with the financial system in good position to provide support for economy’s revival. 
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• Projection comparable with World Bank and Asian Development Bank’s latest forecasts of real GDP growth of 8.7 percent and 7.5 percent respectively for 2022-23.
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• As per IMF’s latest World Economic Outlook projections, India’s real GDP projected to grow at 9 percent in 2021-22 and 2022-23 and at 7.1 percent in 2023-2024, which would make India the fastest growing major economy in the world for all 3years.
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• Agriculture and allied sectors expected to grow by 3.9 percent; industry by 11.8 percent and services sector by 8.2 percent in 2021-22.
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• On demand side, consumption estimated to grow by 7.0 percent, Gross Fixed Capital Formation (GFCF) by 15 percent, exports by 16.5 percent and imports by 29.4 percent in 2021-22.
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• Macroeconomic stability indicators suggest that the Indian Economy is well placed to take on the challenges of 2022-23.
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• Combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide adequate buffer against possible global liquidity tapering in 2022-23.
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• Economic impact of “second wave” was much smaller than that during the full lockdown phase in 2020-21, though health impact was more severe.
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• Government of India’s unique response comprised of safety-nets to cushion the impact on vulnerable sections of society and the business sector, significant increase in capital expenditure to spur growth and supply side reforms for a sustained long-term expansion.
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• Government’s flexible and multi-layered response is partly based on an “Agile” framework that uses feedback-loops, and the use of eighty High Frequency Indicators (HFIs) in an environment of extreme uncertainty.
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Fiscal Developments:

• The revenue receipts from the Central Government (April to November, 2021) have gone up by 67.2 percent (YoY) as against an expected growth of 9.6 percent in the 2021-22 Budget Estimates (over 2020-21 Provisional Actuals).
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• Gross Tax Revenue registers a growth of over 50 percent during April to November, 2021 in YoY terms.  This performance is strong compared to pre-pandemic levels of 2019-2020 also. 
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• During April-November 2021, Capex has grown by 13.5 percent (YoY) with focus on infrastructure-intensive sectors.
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• Sustained revenue collection and a targeted expenditure policy has contained the fiscal deficit for April to November, 2021 at 46.2 percent of BE.
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• With the enhanced borrowings on account of COVID-19, the Central Government debt has gone up from 49.1 percent of GDP in 2019-20 to 59.3 percent of GDP in 2020-21, but is expected to follow a declining trajectory with the recovery of the economy. 
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External Sectors:

 

• India’s merchandise exports and imports rebounded strongly and surpassed pre-COVID levels during the current financial year.
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• There was significant pickup in net services with both receipts and payments crossing the pre-pandemic levels, despite weak tourism revenues.
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• Net capital flows were higher at US$ 65.6 billion in the first half of 2021-22, on account of continued inflow of foreign investment, revival in net external commercial borrowings, higher banking capital and additional special drawing rights (SDR) allocation.
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• India’s external debt rose to US $ 593.1 billion at end-September 2021, from US $ 556.8 billion a year earlier, reflecting additional SDR allocation by IMF, coupled with higher commercial borrowings.
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• Foreign Exchange Reserves crossed US$ 600 billion in the first half of 2021-22 and touched US $ 633.6 billion as of December 31, 2021.
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• As of end-November 2021, India was the fourth largest forex reserves holder in the world after China, Japan and Switzerland.
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Monetary Management and Financial Intermediation:

 

• The liquidity in the system remained in surplus.
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  • Repo rate was maintained at 4 per cent in 2021-22.
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  • RBI undertook various measures such as G-Sec Acquisition Programme and Special Long-Term Repo Operations to provide further liquidity.
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• The economic shock of the pandemic has been weathered well by the commercial banking system:
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  • YoY Bank credit growth accelerated gradually in 2021-22 from 5.3 per cent in April 2021 to 9.2 per cent as on 31^st December 2021.
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  • The Gross Non-Performing Advances ratio of Scheduled Commercial Banks (SCBs) declined from 11.2 per cent at the end of 2017-18 to 6.9 per cent at the end of September, 2021.
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  • Net Non-Performing Advances ratio declined from 6 percent to 2.2 per cent during the same period.
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  • Capital to risk-weighted asset ratio of SCBs continued to increase from 13 per cent in 2013-14 to 16.54 per cent at the end of September 2021.
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  • The Return on Assets and Return on Equity for Public Sector Banks continued to be positive for the period ending September 2021.

• Exceptional year for the capital markets:
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  • Rs. 89,066 crore was raised via 75 Initial Public Offering (IPO) issues in April-November 2021, which is much higher than in any year in the last decade.
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  • Sensex and Nifty scaled up to touch peak at 61,766 and 18,477 on October 18, 2021.
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  • Among major emerging market economies, Indian markets outperformed peers in April-December 2021.
  •  

Prices and Inflation:

 

• The average headline CPI-Combined inflation moderated to 5.2 per cent in 2021-22 (April-December) from 6.6 per cent in the corresponding period of 2020-21.
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  • The decline in retail inflation was led by easing of food inflation.
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  • Food inflation averaged at a low of 2.9 per cent in 2021-22 (April to December) as against 9.1 per cent in the corresponding period last year.
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  • Effective supply-side management kept prices of most essential commodities under control during the year.
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  • Proactive measures were taken to contain the price rise in pulses and edible oils.
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  • Reduction in central excise and subsequent cuts in Value Added Tax by most States helped ease petrol and diesel prices.
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• Wholesale inflation based on Wholesale Price Index (WPI) rose to 12.5 per cent during 2021-22 (April to December).
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  •  This has been attributed to:
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    • Low base in the previous year,
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    • Pick-up in economic activity,
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    • Sharp increase in international prices of crude oil and other imported inputs, and
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    • High freight costs.
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• Divergence between CPI-C and WPI Inflation:
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  • The divergence peaked to 9.6 percentage points in May 2020.
  •  
  • However, this year there was a reversal in divergence with retail inflation falling below wholesale inflation by 8.0 percentage points in December 2021.
  •  
  • This divergence can be explained by factors such as:
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    • Variations due to base effect,
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    • Difference in scope and coverage of the two indices,
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    • Price collections,
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    • Items covered,
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    • Difference in commodity weights, and
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    • WPI being more sensitive to cost-push inflation led by imported inputs.
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  • With the gradual waning of base effect in WPI, the divergence in CPI-C and WPI is also expected to narrow down.
  •  

Sustainable Development and Climate Change:

• India’s overall score on the NITI Aayog SDG India Index and Dashboard improved to 66 in 2020-21 from 60 in 2019-20 and 57 in 2018-19.
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• Number of Front Runners (scoring 65-99) increased to 22 States and UTs in 2020-21 from 10 in 2019-20.
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• In North East India, 64 districts were Front Runners and 39 districts were Performers in the NITI Aayog North-Eastern Region District SDG Index 2021-22.
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• India has the tenth largest forest area in the world.
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• In 2020, India ranked third globally in increasing its forest area during 2010 to 2020.
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• In 2020, the forests covered 24% of India’s total geographical, accounting for 2% of the world’s total forest area.
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• In August 2021, the Plastic Waste Management Amendment Rules, 2021, was notified which is aimed at phasing out single use plastic by 2022.
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• Draft regulation on Extended Producer Responsibility for plastic packaging was notified.
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• The Compliance status of Grossly Polluting Industries (GPIs) located in the Ganga main stem and its tributaries improved from 39% in 2017 to 81% in 2020.
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• The consequent reduction in effluent discharge has been from 349.13 millions of litres per day (MLD) in 2017 to 280.20 MLD in 2020.
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• The Prime Minister, as a part of the national statement delivered at the 26^th Conference of Parties (COP 26) in Glasgow in November 2021, announced ambitious targets to be achieved by 2030 to enable further reduction in emissions.
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• The need to start the one-word movement ‘LIFE’ (Lifestyle for Environment) urging mindful and deliberate utilization instead of mindless and destructive consumption was underlined.
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Agriculture and Food Management:

• The Agriculture sector experienced buoyant growth in past two years, accounting for a sizeable 18.8% (2021-22) in Gross Value Added (GVA) of the country registering a growth of 3.6% in 2020-21 and 3.9% in 2021-22.
• Minimum Support Price (MSP) policy is being used to promote crop diversification.
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• Net receipts from crop production have increased by 22.6% in the latest Situation Assessment Survey (SAS) compared to SAS Report of 2014.
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• Allied sectors including animal husbandry, dairying and fisheries are steadily emerging to be high growth sectors and major drivers of overall growth in agriculture sector.
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• The Livestock sector has grown at a CAGR of 8.15% over the last five years ending 2019-20. It has been a stable source of income across groups of agricultural households accounting for about 15% of their average monthly income.
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• Government facilitates food processing through various measures of infrastructure development, subsidized transportation and support for formalization of micro food enterprises.
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• India runs one of the largest food management programmes in the world.
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• Government has further extended the coverage of food security network through schemes like PM Gareeb Kalyan Yojana (PMGKY).
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Industry and Infrastructure:

• Index of Industrial Production (IIP) grew at 17.4 percent (YoY) during April-November 2021 as compared to (-)15.3 percent in April-November 2020.
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• Capital expenditure for the Indian railways has increased to Rs. 155,181 crores in 2020-21 from an average annual of Rs. 45,980 crores during 2009-14 and it has been budgeted to further increase to Rs. 215,058 crores in 2021-22 – a five times increase in comparison to the 2014 level.
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• Extent of road construction per day increased substantially in 2020-21 to 36.5 Kms per day from 28 Kms per day in 2019-20 – a rise of 30.4 percent.
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• Net profit to sales ratio of large corporates reached an all-time high of 10.6 percent in in July-September quarter of 2021-22 despite the pandemic (RBI Study).
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• Introduction of Production Linked Incentive (PLI) scheme, major boost provided to infrastructure-both physical as well as digital, along with measures to reduce transaction costs and improve ease of doing business, would support the pace of recovery.
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Services:

• GVA of services crossed pre-pandemic level in July-September quarter of 2021-22; however, GVA of contact intensive sectors like trade, transport, etc. still remain below pre-pandemic level.
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• Overall service Sector GVA is expected to grow by 8.2 percent in 2021-22.
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• During April-December 2021, rail freight crossed its pre-pandemic level while air freight and port traffic almost reached their pre-pandemic levels, domestic air and rail passenger traffic are increasing gradually – shows impact of second wave was much more muted as compared to during first wave.
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• During the first half of 2021-22, service sector received over US$ 16.7 billion FDI – accounting for almost 54 percent of total FDI inflows into India.
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• IT-BPM services revenue reached US$ 194 billion in 2020-21, adding 1.38 lakh employees during the same period.
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• Major government reforms include, removing telecom regulations in IT-BPO sector and opening up of space sector to private players.
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• Services exports surpassed pre-pandemic level in January-March quarter of 2020-21 and grew by 21.6 percent in the first half of 2021-22 - strengthened by global demand for software and IT services exports.
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• India has become 3^rd largest start-up ecosystem in the world after US and China. Number of new recognized start-ups increased to over 14000 in 2021-22 from 733 in 2016-17.
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• 44 Indian start-ups have achieved unicorn status in 2021 taking overall tally of unicorns to 83, most of which are in services sector.
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Social Infrastructure and Employment:

 

• 157.94 crore doses of COVID-19 vaccines administered as on 16^th January 2022; 91.39 crore first dose and  66.05 crore second dose.
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• With revival of economy, employment indicators bounced back to pre-pandemic levels during last quarter of 2020-21.
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• As per the quarterly Periodic Labour Force Survey (PFLS) data up to March 2021, employment in urban sector affected by pandemic has recovered almost to the pre-pandemic level.
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• According to Employees Provident Fund Organisation (EPFO) data, formalization of jobs continued during second COVID wave; adverse impact of COVID on formalization of jobs much lower than during the first COVID wave.
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• Expenditure on social services (health, education and others) by Centre and States as a proportion of GDP increased from 6.2 % in 2014-15 to 8.6% in 2021-22 (BE)
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• As per the National Family Health Survey-5:
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  • Total Fertility Rate (TFR) came down to 2 in 2019-21 from 2.2 in 2015-16
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  • Infant Mortality Rate (IMR), under-five mortality rate and institutional births have improved in 2019-21 over year 2015-16
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· Under Jal Jeevan Mission (JJM), 83 districts have become ‘Har Ghar Jal’ districts.

 

• Increased allotment of funds to Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) to provide buffer for unorganized labour in rural areas during the pandemic.

 

RM/BY/MV/LP/RC/SSV/AKS/PB
(Release ID: 1793829) 

 

ICAI: CBDT has extended the last date for updating UDINs for all the IT forms at the e-filing portal to 30th April, 2022