BUDGET 2021: Pensioners above 75 exempted from filing IT returns; Rs 35,000 crore proposed for COVID vaccines

For those above75 years of age with pension as their only source of income, the government has granted exemption from filing income tax returns.

“We shall reduce the compliance burden on our senior citizens who are 75 years of age & above – for senior citizens who only have pension & interest income, I propose exemption from filing their Income Tax return,” FM Nirmala Sitharaman said on Monday while presenting the Union Budget in Parliament.

She also proposed Rs 2,23,846 crore Budget outlay for health and well being for 2021-22, compared to Rs 94,452 crore in the current fiscal, an increase of 137 per cent.

The FM proposed Rs 35,000 crore outlay for COVID-19 vaccines for the next fiscal and announced the rollout of pneumococcal vaccines across the country to help save over 50,000 deaths annually.

“I have provided Rs 35,000 crore for COVID vaccines for 2021-22. I commit to provide further funds if required,” the Finance Minister said while presenting the Budget for 2021-22.

India already has two COVID-19 vaccines and two more are likely to be launched, the minister said.

The pneumococcal vaccine is effective against potentially fatal pneumococcal infections like pneumonia, septicaemia and meningitis.

“The pneumococcal vaccines, a Made in India product, is presently limited to just five states, it will be rolled out across the country,” the Finance Minister noted.

This will avert over 50,000 deaths annually in the country, Sitharaman said.