Finance Minister Nirmala Sitharaman brought good news forshopkeepers and retailers running small businesses during her maiden UnionBudget speech. India’s first full-time woman finance minister announced apension scheme to benefit such businessmen.Under the Pradhan Mantri Karma YogiMan Dhan Yojana, shopkeepers and retailers with turnover less than Rs 1.5 croreannually will be provided pension, declared the Union Finance Minister.
“Pension benefit will be extended to around 3 crore retailtraders and shopkeepers with an annual turnover less than 1.5 crores underPradhan Mantri Karam Yogi Man Dhan Scheme,” said the Union Finance Minister inher budget speech. Nirmala Sitharaman further announced that Rs 350 crore wouldbe allocated for two percent interest subvention for all Goods and Services Tax(GST)-registered Micro, Small and Medium Enterperises (MSMEs).The Union FinanceMinister further announced that the government aims at achieving housing forall citizens of the country by the end of 2022. Referring to the water crisisacross the country, the Finance Minister announced a new ministry called JalShakti Ministry.
She declared that under Jal Jeevan mission, the governmentwill aim to provide water supply to all households by the end of 2024.
The Finance Minister also talked about the government’svision with regard to higher education in the country. She announced a new programme named ‘Study inIndia’, under which foreign students would also be encouraged to come to Indiafor higher studies.