Finance Minister Nirmala Sitharaman on Monday proposed more than doubling of healthcare spending while imposing a new agri cess on certain imported goods and raising customs duty on items ranging from cotton to electronics in a bid to pull the economy out of the trough. In her Budget for the fiscal year beginning April 1, she restricted tax-free interest on retirement fund to '2.5 lakh annually but gave tax exemption on Leave Travel Concession subject to incurring of specified expenditure. A new Agriculture Infrastructure and Development Cess will be imposed from Tuesday on customs duty levied on bullion, alcoholic beverages, coal and agri products ranging from apple to lentil. But to reduce the burden on the consumer, customs or import duty on these items was cut.

Share brokers watch stock prices on computer screens as Union Finance Minister Nirmala Sitharaman presents the Union Budget 2021-22, in Kolkata, on Monday. Pic/PTI