How COVID Budget 2020-21 is going to impact your life? Amaresh Patel LAW CRITIQUE Sun, Jan 31, 2021, at ,01:49 PM PM Narendra Modi in a joint session of Parliament mentioned that this Budget, named as COVID Budget 2021, shall be seen as mini budget, as it is extension of last 3 budget presented by Finance Minister Nirmala Sitharaman.We are covering on how and what are the expected changes, and how it is going to impact the life of common person, students, professionals, self-employed classes and farmers.The COVID Budget 2020-21 extends the concept of Atmanirbhar Bharat from the last budget. The theme of Atmanirbhar Bharat, can be dominant objective of the coming budget. It is expected to strengthen local manufactures but with it, government intervention in conduction, regulations, and management of business sector.The most hated but unfortunately the most expected topic, Cesses and Surcharges are likely to increase, say it, in name of Swachh Bharat Cess or Surcharges if not for specific purpose. Cess is nothing but a new tax added to the last one. One could expected COVID Cess as a form of additional tax in the COVID Budget. It shall be noted that unlike any other tax, a Cess directly goes to Central Government.What do you think about education when Annual Status of Education Report 2020 Wave 1 suggests that the portion of children not enrolled for the 2020-21 school year is higher than the equivalent figures for 2018. Though, much can be blamed on COVID crisis, it is expected that the budget would redouble the government’s effort to bridge the gap. Digit Revolution, which is already in place could be a helping factor.In a country with limited resources, ever growing population, and scarcity of capital, it is important to keep a focus on FDI and FPI flow. Though, the same is not true that increasing of FDI may boost the concept of Atmanirbhar Bharat, as the nation still has only 4% success ratio in growing of startups. FDI may generate wealth but increasing competition for already struggling startups.A lot has happened since the breakdown of COVID, which has resulted into COVID BUDGET as well. Healthcare sector may gain a good weightage because of massive demand of healthcare on one hand, and incompatibilities of large population to reach it. India’s growth rate by GDP has bowed down to the pandemic from 8.3% in 2016-17 to 4.2% in 2019-20. It is not all on the government as entire globe has seen sharp fall in its GDP. However, India was underperforming even before fall of COVID-19. Boost in GDP would, of course, be a major expectation.With the boost in GDP in mind, one way to achieve it would be focusing on JOB. As per the data of Centre for Monitoring Indian Economy (CMIE), the unemployment rate in India was sharply increased by 9.1% in December. The boost in GDP without decrease in unemployment rate is merely a myth.One of the largest unorganized self-employed sector is Agriculture. Though, government is adamant in introducing and executing the Farm Bill, we have only seen growing distance between the government and the farmers. We are yet to comment on impact of the bill, let’s see, how it goes, or falls back.