This week has been all about the union-budget. In the 2021 Budget, Finance Minister Nirmala Sitharaman announced provisions and initiatives for healthcare services, infrastructure projects, digital payments along with several other sectors. What we wanted to uncover was its impact on India’s youth. And while doing so, what we just couldn’t stay away from were…..memes! GenZ’s I tell you!
To end the ‘budget’ week, here are some key points from the announcement that directly impact India’s youth along with some of our favorite reactions from this generation.
1. More jobs, better opportunities
More than 1.4 lakh jobs to be created by March 2021 in various central government departments.
2. Public Transportation for the win
Commuting will be made easier with the deployment of new technologies in tier-II cities and peripheral areas of tier-I cities. Central funding will also be provided to metro systems in Kochi, Chennai, Bengaluru, Nagpur and Nashik.
3. Redefining education:
More than 15,000 schools will be qualitatively strengthened to include all components of the National Education Policy.
4. A green step:
A “Scrappage policy” that encourages voluntary vehicle scrapping, to phase out old and unfit vehicles.
5. Boosting the startup ecosystem:
The definition of ‘Companies Act, 2013’ to be revised for small companies by increasing their threshold for capitalisation as well as an extension of tax holiday for startups for one more year.
6. The year to go solo
Massive encouragement to ‘One Person Company’ (OPC) structure by doing away with minimum and maximum thresholds of paid-up capital requirements.
7. Digital payments rule
The government earmarks ₹1,500 crores to promote digital modes of payment.