The allocation towards health and well-being was increased by _______ over the previous year in Union Budget 2021–22.

The correct option is 137%.

In the Union Budget of India for the fiscal year 2021–22, the Government of India significantly increased the investment in the health sector to strengthen the country's healthcare infrastructure, especially in the wake of the COVID-19 pandemic.

To understand the increase, we can compare the budget allocations for health and well-being between the two consecutive financial years:
1. Union Budget 2020–21: The allocation was ₹94,452 crore.
2. Union Budget 2021–22: The allocation was increased to ₹2,23,846 crore.

We can calculate the percentage increase as follows:

$\text{Percentage Increase}=\frac{\text{Allocation in 2021–22}-\text{Allocation in 2020–21}}{\text{Allocation in 2020–21}}\times 100$

$\text{Percentage Increase}=\frac{2,23,846-94,452}{94,452}\times 100$

$\text{Percentage Increase}=\frac{1,29,394}{94,452}\times 100\approx 1.37\times 100=137\%$

Therefore, the health and well-being budget allocation saw a substantial increase of 137% over the previous year.