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Budget 2022 Live Updates: Modi hails Nirmala Sitharaman for a people-friendly and progressive Budget
Budget 2022 Live Updates: Finance minister Nirmala Sitharaman will present the fourth Budget of the Modi 2.0 government today. The stage for the Budget presentation was set by the Economic Survey stating that the government has the fiscal space to do more to support the economy that is forecast to grow at a healthy 8-8.5 per cent growth in the 2022-23 fiscal. Now, the focus of the Budget is expected to be on further accelerating India's pace of recovery from the pandemic shock along with further boosting up India's healthcare system to secure against any future outbreaks. The government will continue to spend more to aid the recovery and put India back on a trajectory of higher growth.
Live Updates
- 1 Feb 2022 12:28 PM IST
Highlights of Union Budget for 2022-23
*To facilitate use of surety bonds in govt procurement
*Required spectrum auctions to be held in 2022
*5G tech can enable growth, job opportunities
*To set up panel to promote audio visual, gaming sector
*Required 5G spectrum auctions to be held in 2022
*SEZ Act to be replaced with new law
*To provide affordable broadband, mobile svcs in rural areas
*To give contract to lay optic fibre for all villages via PPP
*To award optical fibre contracts in all villages in PPP mode
*Committed to cutting import in defence equipment
* New SEZ Act to promote optimal use of infra
*To complete laying optic fibre for all villages by 2025
*Govt committed to reduce defence equipment imports
*Defence R&D to be opened up for start-ups, academia
*To set up umbrella body for defence equipment certification
*68% of defence capex to be earmarked for domestic cos FY23
*25% of defence budget to be used on research, development
*Climate change risks strongest externality
*Propose several new actions to mitigate climate change
*Need mindful usage of resources
- 1 Feb 2022 12:26 PM IST
The gross GST collections for the month of January 2022 are Rs 1,40,986 crores which is the highest since the inception of GST: Finance Minister Nirmala Sitharaman
- 1 Feb 2022 12:22 PM IST
I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition: FM Nirmala Sitharaman
- 1 Feb 2022 12:16 PM IST
Rs 48,000 crores allocated for completion of construction of 80 lakh houses under PM Awas Yojana in rural and urban areas in the year 2022-23: FM Sitharaman
- 1 Feb 2022 12:15 PM IST
Both Centre and States govt employees' tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees: FM Nirmala Sitharaman
- 1 Feb 2022 12:12 PM IST
To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year: FM Nirmala Sitharaman
- 1 Feb 2022 12:09 PM IST
For 2022-23,allocation is Rs 1 lakh cr to assist the states in catalyzing overall investments in economy. These 50-yr interest-free loans are over&above normal borrowings allowed to states. It'll be used for PM Gati Shakti-related&other productive capital investments of states: FM
- 1 Feb 2022 12:04 PM IST
Digital rupee to be issued using blockchain and other technologies; to be issued by RBI starting 2022-23. This will give a big boost to the economy: FM Nirmala Sitharaman
- 1 Feb 2022 12:04 PM IST
To facilitate domestic manufacturing for ambitious goal of 280 GW of installed solar capacity by 2030, addl allocation of Rs 19,500 cr for PLI for manufacturing of high-efficiency modules with priority to fully integrate manufacturing units to solar PV modules will be made: FM
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