Elimination of electrical Hazard in Boomer 282B drill by circuit breaker modification - HZL

Problem:Manual main electrical breaker was present with OEM supply in machine, which failed frequently by mishandling of breaker in UG and direct tripping issues.

Benefits:• Elimination of electrical Hazard • Damage and failure of breaker will be prevented in future.

Solution: Replaced manual palm grip operated breaker with Motor operated electrical ABB make breaker

In house Rail Cycle Development – Balco

Problem Statement: Railway Track inspection requires on daily basis, for this purpose road approach is not convenient and always not available throughout the Railway Tracks.

Details of Innovation:After benchmarking with TSPL, Rail Cycle has been developed in-house to ease out the Railway Track inspection at any of the track location.

Benefits: • Lower risk to encounter Bio-Hazardous Animals and things (Snakes etc.) • Direct approach to Railway Track • Instant & very light in operation • Improved turnaround time and range.

Environmental - Dust E-Sampler Digitalisation – VZI

Objective Statement: Digitalisation of the E-Sampler dust sampling data in Power BI to enable the analysis of the dust data, the monitoring of potential non-compliant areas at the mine and to enable quick response and remedial action.

Details of Innovation: • Data is exported manually from each device in a .txt file • .txt files are imported into Power BI for visualisation • Next steps will be to buy the E-sampler license to get wireless access to real-time

data

How does the E-Sampler work?Gamsberg has four E-Samplers. The E-Samplers provide real-time particulate measurement utilising the near forward light scattering principle. An internal rotary vane pump draws air at 1 to 3.5 LPM into the sensing chamber where it passes through visible laser light. Aerosols in the air, scatter light in proportion to the particulate load in the air. Scattered light is collected by precise glass optics and focused on a PIN diode. Rugged, state of the art electronics measurethe intensity of the focused light and output a signal to the CPU. The output is linear to concentrations greater than 100,000 ug/m3.

IOG Innovative Maintenance Practice: Troubleshooting & Retrofitting VE-11 Excavator resulting in Cost Reduction – IOB

Problem Statement: Under carriage of VE-11 was due for replacement & completely worn out.

New Approach: • Team brainstormed & came out with an innovative idea for retrofitting VE 11 with

under carriage of scrapped VE2 post analytics on residual life. • Post overhauling, machine was found to be continuously swinging as pool was

stuck inside the block for which team designed the tool of 2 mtrs length which did vertical horning of the bore in inaccessible position thus freeing the spool & normalizing operations.

Benefits: Maintenance Cost Reduction by ~ 0.60 Cr through innovative maintenance.

Modification of CML 5 base roller assembly to increase machine reliability @ DIP – ESL

Problem Statement: Frequent failure of CML 5 Base roller assembly due to design constraints and it leads to improper load distribution, majorly in case of Bend Pipes of DN100 & 150.

Control Measure: Modified the design of bearing, bearing mounting & its housing. Bearing design modified from spherical roller to deep groove ball.

Benefits: Maintenance Cost saving – Rs.15200 / month Production enhancement – 78.25 MT/month Saving due Volume – Rs.23.08 lakhs / month Total Saving - Rs. 2.78 Cr/annum.

ANIL AGARWALCHAIRMAN, VEDANTA

Finance Minister Nirmala Sitharaman has presented a bold and reformist Budget with a clear focus on growth. It has laid out, in detail, the contours of the Prime Minister Narendra Modi’s Atmanirbhar Bharat vision, to which we at Vedanta are fully committed. There are many big ideas in the Budget. The decision to privatise IDBI Bank, two other public sector banks and one government-owned general insurance company will be transformative for the financial sector. The FM’s pledge to complete 20 or so privatisations within the next 13 months will be a game changer for productivity and efficiency in the economy. It will boost investment and lead to the creation of many new jobs and is in keeping with the PM’s vision of a self-reliant and inclusive India.

ISSUE 44 | VOL 15 | 06 FEBRURAY 2021

Vedanta NewsdeskUNION BUDGET 2021-22 INNOVATION VEDANTS'S STRONG Q3 RESULTS

NEWS ON INDIAN PEERS

VEDANTA’S CALL OF DUTY

VEDANTA – A STRONG QUATERLY PERFORMANCE

PADMINI SOMANI TO JOIN VEDANTA BOARD

Swedish steelmaker SSAB has called off talks with Tata Steel Ltd for a possible acquisition of the Indian company’s IJmuiden steel mill in the Netherlands.SSAB said in a public statement on Friday that the “synergies that we saw in the transaction would not fully justify the costs and investments". (Mint)

The Supreme Court today declined to interfere with the takeover of Essar Steel Ltd by ArcelorMittal India and dismissed a petition by a group of minority shareholders of the former. The minority shareholders of Essar Steel held moved the apex court saying their shares have been extinguished. The shareholders said they were not opposing the resolution plan but requested the court to pass appropriate orders to protect their interests. (Free Press Journal)

JSW Steel has approached auto companies for an increase in contract prices in the wake of a widening gap between spot and contract prices. Half-yearly contracts for auto companies were renewed in October. Though prices started increasing after unlocking in July, the major surge came post- October. (Business Standard)

Billionaire Mukesh Ambani’s Reliance Industries has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing fields such as KG-D6 and textiles business. Reliance for the first time reported integrated earnings of the O2C business in its third quarter financial results. (Business Standard)

Deutsche Bank was denied internal clearance to act as an arranger for Adani Ports and Special Economic Zone’s $500 million bond issue that was launched on Tuesday due to environmental concerns flagged by the Frankfurt-headquartered lender’s sustainability committee, said people in the know. The Adani group company was in discussions with a group of international banks to act as arrangers for the issue, ET had reported on Monday. Deutsche was part of those discussions but pulled out later, these people said. (Economic Times)

More than two years after it was first suspended, the Centre’s efforts to make NMDC restart iron-ore mining operation at Donimalai in Karnataka has come to a naught with the State government persisting with unacceptable conditions on lease renewal. Late September 2020, the Centre, the Karnataka Government and the Ministry of Steel had reached an agreement to extend the lease of the mine in favour of NMDC even as they agreed to set up a high-level committee to fix the percentage of royalty to be paid. Following this, the company started mining operation in December and shut it again in 10 days after it received a notice from the State government that the mine lease has been extended for four years from the date of lease expiry, with additional 22 per cent royalty, said sources close to the development. (Hindu Business Line)

UNITED AGAINST COVID-19

'Meals for All’ Program• More than 11.46 lakh meals distributed to daily wage earners across the country in

phase 1 and 2.• More than 49626 dry ration packets to the local communities.• More than 12.70 lakh feedings to stray animals in Delhi, Mumbai, Jaipur and Pune.

Preventive Healthcare• Distributed more than 4.54 lakh masks across communities. • Provided more than 26,000 surgical masks and more than 75000 surgical gloves to

district hospitals across the country.• Vedanta has joined hands with the Ministry of Textiles to import 23 machines for

indigenously personal protective equipment (PPEs). Also, Vedanta distributed more than 103777 units of soaps and sanitizers across communities.

Cairn Energy has threatened to seize Indian government assets if New Delhi fails to pay the UK oil and gas explorer $1.2bn after losing a bitter dispute over retrospective taxes. The warning, in a letter seen by the Financial Times, highlights the pressure on Prime Minister Narendra Modi’s government to honour the verdict in one of its longest-running, highest-profile corporate tax battles. (Financial Times)

ExxonMobil is considering further cuts to capital expenditure, changes to its board and more investment in sustainable technologies after it held talks with activist investors engaged in a proxy battle to reshape the US oil supermajor. The changes could be announced as early as next week, when the company reports its fourth-quarter earnings, people familiar with the discussions said. (Financial Times)

The U.S Securities and Exchange Commission has launched an investigation of Exxon Mobil Corp following a whistle-blower complaint that the oil major over-valued a key asset in the top U.S. shale field, the Wall street Journal reported on Friday. Exxon Chief Executive Darren Woods has pinned much of the company’s growth prospects on the Permian Basin in Texas and New Mexico, and two years ago pitted the company against rival Chevron Corp in a race to reach 1 million barrels of oil and gas per day in the field. The Exxon target grabbed the spotlight on the day Chevron was meeting with investors and analysts to make its own Permian case. (Reuters)

Royal Dutch Shell has agreed to buy Ubitricity, owner of the largest public charging network for electric vehicles in the UK, as the oil major expands its presence along the power supply chain. Shell said on Monday it would buy 100 per cent of the company for an undisclosed amount. Ubitricity, founded in Germany, is a leading European provider of on-street charging for electric vehicles. (Financial Times)

Russian state oil major Rosneft is courting investments from global trading houses to help develop one of the world’s biggest oil deposits, after talks with other possible partners stalled following a collapse in oil prices, four sources familiar with the discussions told Reuters. Rosneft is in discussions with Vitol, Glencore and Gunvor, among others, over investments in its Vostok Oil project in the Arctic, having already secured a deal with Swiss-based Trafigura, which took a 10% stake at the end of last year. (Reuters)

Iraq has signed a memorandum of understanding with Total to execute “large and promising projects” in the Middle Eastern country, particularly regarding use of natural gas and clean energy, its oil ministry said on Wednesday. The agreement was signed during a visit by Total’s Chief Executive Patrick Pouyanne, the ministry said in a statement. (Reuters)

Jakob Stausholm, Rio Tinto’s new chief executive, has made sweeping changes to the miner’s senior leadership team, including creating two roles, as he seeks to repair relations in Australia and improve operational performance. The Anglo-Australian company suffered enormous reputational damage last year when it destroyed a 46,000-year-old sacred Aboriginal site in the heartland of its flagship iron ore business to make way for a mine expansion. (Financial Times)

THE JOURNEY THAT IS NAND GHAR

Standing splendid across 10 states, Nand Ghar has reached an important milestone in its journey, the 2000 mark! With the vision of making the children healthier and women empowered, Nand Ghar expresses gratitude to all those who made its journey possible and celebrate this achievement with its communities.

NAND GHAR AB HAZARON MANZILE KAMYAB

Republic Day celebration at Nand Ghars, building an enlightened society.Nand Ghar communities across the states celebrated the 72nd Republic Day of our country. With the spirit of national pride and respect, Nand Ghar children, women, and other stakeholders participated in the programs conducted at the centers including Flag hoisting, sports activities, etc. The Sarpanchs and other PRI members took this opportunity to pledge their continuous support to the project's cause and uplift women and children.

Nand Ghar stepping up for preventive measures to secure the health of the childrenNand Ghar is taking constant measures to ensure that children’s health needs are addressed at the right time. Nand Ghar has established a strong network with the Govt. models for seamless delivery of primary health care services to children. In Sikar, Rajasthan, regular camps are being conducted with the MMU team where more than 50 children are screened in every camp and provided with health care services in their villages

Nand Ghar conducting "Jan Sawasthya Sandesh Diwas" with the community membersNand Ghar organized Jan Swasthya Sandesh Diwas as a part of the community celebrations. With a focus on improving the nutrition status of communities, Nand Ghar’s initiatives are driven with the aim of eradicating malnutrition and improving health status. With extensive support and participation from the community and the govt. bodies, Nand Ghar continues its mission of building a healthy nation.

ALUMINIUM AND POWER

JHARSUGUDA

Vedanta Jharsuguda observes 32nd National Road Safety WeekVedanta Jharsuguda’s HSE team is observing the 32nd Road Safety Week in and around its operations with training and awareness sessions for the truck drivers at the inhouse Driver Training Centre and for school children in the community. The Road Safety Week celebration follows our ethos of 'Zero Harm' and reinforces safety as Vedanta's most important practice, safeguarding its employees and reducing risks to operations & processes. Mr. Dinabandhu Sundhi, RTO Officer, Jharsuguda, who chaired the training added, “It is very important to educate truck drivers about road safety, driving rules and cautions to reduce the risk of accidents. Such training sessions organized by Vedanta Ltd., Jharsuguda will help in spreading awareness among the truckers”.

BALCO

Mr. Rahul Sharma, Dy. Chief Executive Officer of Vedanta Aluminium Business on his visit to BALCO recognized and motivated BALCO’s V-Reach leaders. V-Reach is a unique initiative that identifies and grooms future leaders from amongst its employee base to foster the next generation of leaders. Mr. Sharma congratulated the young leaders and encouraged them to lead the organization’s transformational growth on key drivers such as safety, health, environment, business excellence, quality and innovation with their disruptive thinking and ideas. Mr. Abhijit Pati, CEO & Director, BALCO, along with several BALCO officials were present at the program.

TSPL

Vedanta’s First Ever CFA/PA Rake DispatchedTSPL has set a milestone in Vedanta Ltd. by ensuring successful pond ash utilization- hitherto a revenue drainer for power plants across the nation. TSPL team dispatched ‘Vedanta’s first ever pond ash rake from TSPL located in Banawala Mansa to Ambuja Plant in Ropar. This has set a landmark in the history of Vedanta by selling pond ash in rake Mode.

LANJIGARH

First Phase of Covid Vaccination kicks off at LanjigarhVedanta Limited, Lanjigarh has started the COVID Vaccination Program for its medical personnel and healthcare staff on 23rd January 2021. Organised in partnership with the Community Health Centre, Biswanathpur, 96 personnel from Vedanta’s Health team at Lanjigarh will be vaccinated in the first phase. The commencement of the vaccination drive, was held under the close supervision of the district administration, adhering to all COVID guidelines. The district administration also provided the vaccine and other required medical equipment.

HINDUSTAN ZINC LIMITED

• Republic Day at Hindustan Zinc: The 72nd Republic Day was celebrated at Hindustan Zinc’s Head Office, with a flag hoisting ceremony by CEO – Mr Arun Misra. Mr Misra spoke about how the constitution of India is integral to the republic and imperative for the development of the nation. He also stressed on the fact of safety is of utmost importance in the recent times. Even with the roll out of vaccines, he urged everyone to continue using masks to mitigate any risk.

• Khel Mahakhumbh at Dariba Vedanta Stadium: A three day sports tournament named ‘Khel Mahakhumbh’ kicked-off at the Dariba Vedanta Stadium. The tournament is aimed to provide a platform for rural and tribal communities to showcase their talent in sports. Over 1700 people from 29 districts of Rajasthan are set to participate in this event. The inaugural ceremony was conducted in the presence of Dr CP Joshi – Speaker of the Rajasthan Legislative Assembly.

• Webinar on "Lead Batteries – Technology & Energy Storage": Discussing Lead’s versatility, strong reserves, supply chain, recyclability, and the opportunities it presents, ILZDA organized a webinar on "Lead Batteries – Technology & Energy Storage" on the 29th of January. Ruchika Jha - Group Chief Marketing Officer, Vedanta Resources Limited was a key panelist in the webinar and spoke on how 100% recyclable ‘Green Lead’ is an Imperative necessity for India in the times to come. She also emphasized the need for origin tracking through blockchain and innovative technologies for responsible recycling of lead batteries.

• Sakhi Udaan Federation meeting at Rampura Agucha Mine: Under HZL’s Sakhi initiative, the member women host elections to select the heads of the committee. All decisions and initiatives within this federation are driven by these independent women. Our Rampura Agucha Mine recently hosted an election for their Sakhi Udaan Federation. Currently RAM is running the initiative in 27 associated villages that works extensively towards women empowerment.

CAIRN OIL AND GAS

• Celebration of 9 years of Bhagyam Field Operations: Cairn Oil & Gas celebrated 9 years of its Bhagyam field operations. Bhagyam operations have contributed more than 57.5 MMbbl of crude oil till date.

• Celebration of the 72nd Republic Day at Cairn : Cairn celebrated the nation’s 72nd Republic Day across multiple sites with celebrations being held in Rajasthan, Gujarat, and Andhra Pradesh spanning Cairn Center of Excellence – Jodhpur, Cairn Enterprise Center - Barmer, 6 Nand Ghars, a government school in Gujarat and engaged with the district administration and stakeholders to help organize a friendly cricket match and basketball match on the theme ‘Mask hi vaccine hain’ between local players, district officials & media personnel.

• Replicating and self-sustaining poultry development : Under the Barmer Unnati project, Cairn had established 25 family level poultry clusters for operational area farmers. These units are poised at bringing in a good amount of economic benefit and 11 families, who were encouraged by seeing the demonstrations have placed orders for developing their own poultry clusters. In collaboration with Krishi Vigyan Kendra, farmers from Gudamalani and Desantri Nadi have been able to leverage this initiative through the Barmer Unnati project.

• Passion to Serve: Barmer Engineering college students are leveraging the Cairn expertise on regularly basis through virtual classroom sessions. A total of 14 classes conducted by our employees and contributed more than 30 hours. 3 employees actively participated in different subjects and contributed more than 6 hours, A large section of key stakeholders along with community got benefited through the initiatives we touched more than 129 peoples by the employees volunteering program.

Vedanta Ltd., Jharsuguda bagged the Best Exporter's Award

Vedanta Ltd., Jharsuguda bagged the Best Exporter's Award for the years 2017-18 & 2018-19 at the Odisha State Export Award. Organized by the Directorate of Export Promotion & Marketing (DEPM), Odisha, the awards were presented to the company in a virtual ceremony chaired by the Hon'ble Chief Minister of Odisha, Shri. Naveen Patnaik. Mr. GG Pal, COO – Metal, accepted the honour on behalf of the company. Vedanta Jharsuguda has a strong overseas clientele and is dedicated to fulfilling the state’s vision of becoming India’s most preferred destination for business.

TSPL wins ICSI National Awards for ‘Excellence in Corporate Governance’:

Talwandi Sabo Power Limited (TSPL) has won two awards at the prestigious 20th edition of the National Awards for Excellence in Corporate Governance, conducted by The Institute of Company Secretaries of India. TSPL was adjudged as the ‘Best Governed Company’ in Unlisted Segment: Medium Category and Company Secretary Ms. Mansi Bhutani was conferred with the ‘Governance Professional of the Year’ award.

RAM wins at NCQC and ICQCC Awards:

HZL’s Rampura Agucha Mine participated at 45th International Convention on Quality Control Circles and was conferred with highest award – ‘Platinum’. Team Fourth Wave – Mr. Sourav Debnath, Ms. Nidhi Aggarwal, and Mr. Abhishek Singh represented Rampura Agucha Mine. Apart from this, two RAM teams also won the “Par Excellence Award” in 34th National Convention on Quality Concepts (NCQC) and have qualified International Convention ICQCC – 2021.

Vedanta on Friday reported a 59% rise in consolidated net profit for the December quarter on account of increased commodity prices and better sales volumes in the resources conglomerate’s zinc and iron ore businesses. Profit surged to Rs 4,224 crore against a net profit of Rs 2,665 crore during the same period last year. Revenues of Rs 22,498 crores rose 8% q-o-q, primarily due to increase in commodity prices and higher sales at Aluminium, Iron ore and Steel business. EBITDA margin at 39% is the highest in last 4 years, while EBITDA was up 18 per cent q-o-q at Rs 7,695 crores. Attributable PAT (before exceptional items and tax on dividend) rose 51 per cent to Rs 3,017 crore.

“We continue to strengthen our position as one of the largest diversified natural resource businesses in the world with our strategy focused on value-added growth. Our businesses stayed resilient in the quarter amidst uncertain market environment as we continued with our winning streak reporting the highest EBITDA in last two years. We continue to ramp up across the Zinc and Iron & Steel verticals along with successful project delivery in the Oil & Gas vertical. Aluminium business has had yet another exemplary quarter as it continued the momentum of cost rationalisation from improved integration and systemic improvements. As we look forward to the year, we have in place the building blocks to enhance our performance in all our businesses as we continue to deliver for all our stakeholders”.

- Mr. Sunil Duggal, Group CEO and Chief Safety Officer, Vedanta

“We are focussed on driving operations effectively in this conducive price environment to maximise earnings to cash conversion, allocate capital wisely while supporting high return organic growth projects across businesses and continue to drive costs down structurally to sustain these cash flows into future. The Balance Sheet continues to remain strong with a consolidated Net Debt / EBITDA ratio of ~1.5X with improving debt maturity profile. Yet we target to reduce net debt by above Rs 5,000 crores in the coming quarter. ROCE at double digit levels of ~13% will thus leave enough on the table to ensure good shareholder returns. The guidance has remained constant or better through the year on volumes, costs, below EBITDA items as well as growth capex thus delivering a well-managed set of financials during the year”.

GR Arun Kumar, Chief Financial Officer, Vedanta

Vedanta Limited has announced the appointment of Ms. Padmini Somani as a Non-Executive Independent Director on the Board of the Company effective from February 5, 2021. The appointment is subject to approval of the shareholders of the company at the next Annual General Meeting. Ms. Padmini Somani has been active in the philanthropy and development space for over 20 years. She is the founder of Salaam Bombay Foundation, which works with more than 3 million children across India. She has been recognized for her work in youth education, health and skilling programs with vulnerable and marginalized populations.

VEDANTA & THE WORLD

NAND GHAR

BU UPDATE

AWARDS AND ACCOLADES

CORONAVIRUS UPDATE

INNOVATION @ VEDANTA

THE MINISTRY OF Home Affairs (MHA) last week allowed cinema halls and theatres to operate with more people while swimming pools have been permitted for use by all in fresh Covid-19 reopening guidelines. According to these new guidelines, to be effective for February 1, there shall be no restriction on inter-state and intra-state movement of people and goods including those for cross land-border trade under treaties with neighbouring countries. (Financial Express)

ECONOMIC SURVEY 2021– THE KEY HIGHLIGHTS

# GDP growth is projected at 11 pc in 2021-22, India witnessing V-shaped recovery

# GDP estimated to contract 7.7 pc in current fiscal year ending March 31, 2001

# Farm sector growth remains silver lining; services, manufacturing, construction hit hardest

# India expected to witness current account surplus during the current financial year after a gap of 17 years

# India's sovereign credit ratings do not reflect its fundamentals.

# India's lockdown strategy prevented 37 lakh COVID-19 cases, 1 lakh deaths

Union Finance Minister Nirmala Sitharaman on Monday liberated herself from fiscal restraints to budget for a massive expenditure push to give a big boost to economic growth. What makes Budget 2021-22 probably the most transformative in recent years is her intent to privatise two PSU banks and one state insurer, while setting a target Rs 1.75 lakh crore in FY22 through the disinvestment route.

There has been sharp hike in capital expenditure to Rs 5.54 lakh crore as the FM laid out a roadmap to make India a $5 trillion economy. Healthcare spending will be

doubled to Rs 2.24 lakh crore, with Rs 35,000 crore earmarked for the vaccine, even as the FM resisted the resisted the temptation to levy fresh taxes.

The Finance Minister announced the senior citizens who only have pension and interest income are exempted from filing the tax returns. The Budget frames new rules for removal of double taxation for NRIs, and a reduction in the time period of tax assessments. Start-ups will get an extension in their tax holiday for an additional year.

SIX PILLARS OF UNION BUDGET 2021-22

THE BIG BUDGET TAKEAWAYS

BIG THRUST ON DISINVESTMENT

The Union Budget has laid a thrust on disinvestment and has set a target to raise Rs 1.75 lakh crore from sale of public sector units in FY22. Two public-sector banks and one state-owned general insurance company will be lined up for disinvestment. FDI in insurance will be hiked to 74% from 49% now, while the LIC IPO will be rolled out in FY 22.

The Finance Minister made it clear that strategic disinvestments already announced, including BPCL, Shipping Corporation of India, Air India, Concor, Pawan Hans etc will be completed in FY22. NITI Aayog has been asked to prepare the next list of non-core PSUs for strategic sale.

CAPITAL EXPENDITURE GETS A BOOST

Finance Minister Nirmala Sitharaman has announced a sharp hike in capital expenditure to Rs 5.54 lakh crore, a 34.5 per cent increase compared to FY21. Raising government spending is key to bringing the economy back on track and experts believe that this will pave the way for a strong recovery. In addition, the government will also provide an additional Rs 2 lakh crore to states for capital expenditure over and above its own commitment.

INFRASTRUCTURE GETS TOP BILLING

Finance Minister Nirmala Sitharaman announced that the National Infrastructure Pipeline (NIP) that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed.

The Union Budget has also set aside Rs 20,000 crore to set up a Development Financial Institution (DFI) for long-term financing of infrastructure. The aim is to have a lending portfolio of at least Rs 5 lakh crore for this DFI over the next three years.

On the anvil is a "National Monetization Pipeline" of potential brownfield infrastructure assets. The budget has rolled out a scheme to assist DISCOMS with an outlay of Rs 3 lakh crore, which could help ease the burden on power producers.

The strong focus on road infrastructure, for which Rs 1.18 lakh crore has been earmarked, power distribution, water supply, gas pipelines and port projects will give a big boost for demand in the metal and mining sector. In addition, ship recycling capacity to be doubled which will generate an additional 1.5 lakh jobs for the youth.

FOCUS ON HEALTH AND WELL-BEING

The Union Budget unveiled a new centrally-sponsored scheme - 'PM Atmanirbhar Swasth Bharat Yojana – which will have a total outlay of Rs 64,180 crore and focus on developing healthcare systems and develop institutions for detection and cure of new and emerging diseases.

Total allocation for Health has been raised 137 per cent to Rs 2,23,846 crore in 2021-22 compared with Rs 94,452 crore in 2020-21. The Budget has also provided Rs 35,000 crore for the Covid-19 vaccine.

CLEANING UP NON-PERFORMING ASSETS

The Union Budget has proposed setting up of an asset reconstruction company and an asset management company (AMC) to clean up non-performing assets of banks, thereby giving them flexibility to finance the economic recovery.

The high level of provisioning by public sector banks for their stressed assets calls for measures to clean up the bank books, the finance minister said while unveiling the Budget for 2021-22.

STARTUPS GET TAX HOLIDAY

Building a strong ecosystem for Start-ups is very important for India. In a bid to give boost to start-ups, the FM has extended tax holidays to start-ups and provided them an extra year to claim long-term capital gains on investments.

NO NEW TAXES

With the fiscal deficit at 9.5 per cent, there was hardly any scope available for tax concessions. However, the best part about this year’s budget is that the Finance Minister has resisted the temptation of imposing any tax levy. There are no new taxes or COVID cess announcements and this will ensure continuity and stability in the system.

GOVT AIMS at 4.5% FISCAL DEFICIT BY 2025-26

The government will continue on its path of fiscal consolidation and intends to reach a fiscal deficit of below 4.5 per cent of GDP by 2025-26, the finance minister has said. The government has estimated the fiscal deficit at 6.5 per cent of GDP in 2021-22, while for the current fiscal it is pegged at 9.5 per cent.

SUNIL DUGGALGROUP CEO AND CHIEF SAFETY OFFICER,

VEDANTA

“The Union Budget 2021 lays the foundation for a strong economic revival with an aim to achieve progressive growth. With a well-defined focus on key areas such as Health & Medication, Infrastructure, Banking & finance along with a vision of Atmanirbharta, our honourable FM has given us a decisive budget that will help steer the economy towards the targeted $5 trillion. Provisions made for capital investments and capital expenditure are commendable steps and could not come at a better time as we look ahead to the post Covid era. A focus on strategic divestment will go a long way in improving efficiency, bringing down fiscal deficit and freeing substantial government resources”.

BUDGET WILL TRIGGER STRONG REVIVAL

Union Finance Minister Nirmala Sitharaman

REFORMIST BUDGET WITH FOCUS ON GROWTH

BEFORE

AFTER

NEW ROLLER ASSEMBLY

BASE MOUNT OF ROLLER

NEW BEARING HOUSING

L-R: Pradeep Gaonker, Siddharth Dessai, Pramod Bugde, SunayNaik, Samir Gaonkar, Gurudas Gaonkar, Dinesh Gaonkar & Ram Naik

L-R: Anirban, Babunand Prasad, Ranjeet K Sinha, Anil Kr. Gupta, Neeraj Kr Singh, Vivek K. Mandal

Nand Ghar achieves 2000 Milestone

Republic Day Celebration at Nand Ghar

Vedanta Jharsuguda organised 32nd Road Safety Week

COVID-19 Vaccination drive at Lanjigarh

Republic Day Celebrated at HZL

Webinar on Lead Batteries Technology & Energy Storage

Bhagyam growth journey

Poultry cluster established under Barmer Unnati project

Republic day celebration at Nand Ghar Barmer

Vedanta Ltd., Jharsuguda bags Best Exporter's Award

TSPL wins ICSI National Awards for Excellence in Corporate Governance

Rampura Agucha Mine wins Platinum Award at ICQCC

Health and wellbeing

Infrastructure Inclusive development

Minimum government, maximum governance

Development of human capital

Research and development

A REFORMIST BUDGET FOR ATMANIRBHAR BHARAT