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%3Cstrong%3EEPF%20Shocker%3C/strong%3E%3A%20The%20Budget%20has%20proposed%20to%20make%20interest%20earned%20on%20employee%20contribution%20to%20the%20provident%20fund%20in%20excess%20of%20Rs%202.5%20lakh%20per%20year%20taxable.%20This%20provision%20will%20only%20hit%20those%20employees%20who%20were%20either%20voluntarily%20or%20otherwise%20contributing%20over%20Rs%2020%2C000%20per%20month%20to%20their%20provident%20fund%20accounts%20and%20this%20segment%20of%20earners%20is%20a%20minority.%20But%20the%20provision%20makes%20EPF%20a%20less%20attractive%20instrument%20for%20savings.%20Taxpayers%20in%20general%20are%20anyway%20a%20disappointed%20lot%20since%20despite%20widespread%20expectations%20of%20some%20relief%20in%20income%20tax%20rates%2C%20the%20FM%20did%20not%20tinker%20with%20either%20IT%20slabs%20or%20exemptions.
%3Cstrong%3EHealth%2C%20Defence%3C/strong%3E%3A%20The%20FM%20made%20a%20grand%20opening%20of%20her%20speech%20with%20detailed%20explanation%20of%20the%20137%25%20increase%20in%20budget%20for%20healthcare%20and%20the%20activities%20where%20the%20increased%20funding%20will%20be%20used.%20But%20as%20former%20Finance%20Minister%20P%20Chidambaram%20explained%20later%2C%20the%20seemingly%20huge%20health%20budget%20for%202021-22%20includes%20a%20one-time%20allocation%20for%20COVID-19%20vaccination%20and%20allocations%20for%20water%20and%20sanitation.%20If%20one%20were%20to%20compare%20apples%20to%20apples%20%28and%20not%20apples%20to%20oranges%29%2C%20then%20the%20health%20budget%20for%20FY%2022%20may%20have%20actually%20contracted.%20The%20allocation%20for%20the%20Ministry%20of%20Health%20and%20Family%20Welfare%20in%20FY%2022%20is%20Rs%2073%2C932%20crore%2C%20which%20is%20lower%20than%20the%20Rs%2082%2C928%20crore%20allocated%20in%20the%20revised%20estimates%20for%20the%20current%20fiscal%20year%20but%20a%20nearly10%25%20increase%20from%20the%20money%20allocated%20in%20the%20last%20union%20budget.%20So%20in%20effect%2C%20the%20health%20budget%20has%20not%20really%20expanded%3B%20the%20allocation%20for%20PM%20Atmnirbhar%20Swasth%20Bharat%20Yojana%20of%20Rs%2064%2C000%20odd%20crore%20is%20to%20be%20spent%20over%20six-year%20period%2C%20And%20the%20Rs%2035%2C000%20crore%20she%20added%20in%20the%20health%20budget%20is%20a%20one-time%20spend%20on%20vaccination.%20In%20the%20case%20of%20defence%20too%2C%20the%20increase%20for%20the%20coming%20fiscal%20has%20been%20marginal%20at%20best.
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%3Cstrong%3EInfrastructure%20push%3A%3C/strong%3E%20A%20lot%20has%20been%20said%20about%20the%20massive%20outlays%20the%20FM%20has%20announced%20for%20the%20infrastructure%20sector.%20Or%20more%20specifically%20for%20building%20roads%20for%20example.%20But%20a%20large%20part%20of%20this%20road%20building%20outlay%20is%20for%20poll%20bound%20states%20and%20as%20Chidambaram%20pointed%20out%2C%20the%20outlay%20will%20get%20converted%20to%20actual%20investment%20only%20after%20each%20scheme%20is%20approved.%20The%20FM%20said%20investment%20in%20road%20building%20in%20Tamil%20Nadu%20will%20be%20Rs%201.03%20lakh%20crore%2C%20Kerala%20will%20get%20Rs%2065%2C000%20crore%20for%20roads%20while%20West%20Bengal%20and%20Assam%20will%20together%20get%20nearly%20Rs%2060%2C000%20crore.%20Ditto%20for%20the%20various%20metro%20projects%20mentioned%20in%20the%20Budget.
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