Budget 2021 with Anil Singhvi: JLR Money co-founder Vijai Mantri says good budget towards 'Aatmanirbhar Bharat'

Giving a big relief to senior citizens, Finance Minister Nirmala Sitharaman in her budget speech on Monday (1 February) announced that senior citizens aged 75 years and above will no longer need to file their Income Tax returns (ITR). These are for those who only have pension or interest income.

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As the finance minister made the announcement, Vijai Mantri, co-founder JLR Money, talked to Zee Business Managing Editor Anil Singhvi and explained why it is a good move.

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सीनियर सिटीजन को बजट 2021 में दी बड़ी राहत... जानिए इस फैसले पर क्या है @JrlMoney के को-फाउंडर विजय मंत्री की राय...#BudgetOnZee #Budget2021 @vijaimantrimf pic.twitter.com/AOEhJxnpPV

— Zee Business (@ZeeBusiness) February 1, 2021

Mantri said it is a very good budget that focusses on minimum government maximum governance approach and a big step towards 'Aatmanirbhar Bharat'.

Talking in general about the Budget 2021, Mantri said, " The government has started 7 textile parks, which is a very labour intensive industry. These parks will be good as you can absorb domestic workforce in this sector. "

There are also big takeaway from investors point of view as he finance minister talked about bringing investor charter. This will help investors a lot and banks will no longer be able to harass investors.  

He said now interest rate of FD and housing loan will also increase.  

Earlier, while presenting her third budget Sitharaman said, "The Budget seeks to reduce compliance burden on senior citizens who are of 75 years of age and above.  Such senior citizens having only pension and interest income will be exempted from filing their income tax return.  The paying Bank will deduct the necessary tax on their income."