Duty on unpolished diamonds to be reduced to 5%
Unblended fuel to attract additional excise duty of ₹ 2/litre
Income from Long Term Capital Gains will be taxed at 15%.
Co-operative surcharge to be reduced from 12% to 7%: FM Nirmala Sitharaman
Equity tax surcharge capped at 15%
TDS at 1% on Transfer of Virtual Digital Assets. Transfer of any Virtual digital Asset to be taxed at 30%
FM reduces Alternate Minimum Tax on co-operative societies tax rate to 15% from 18.5%
To reduce surcharge on co-operative societies to 7% from 12% for income between Rs 1 cr to Rs 10 cr
The tax deduction limit for state govt employees to NPS raised to 14 % from 10%
Updated tax returns can be filed within two years of Assessment years
To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year, announces FM Nirmala Sitharaman
FM Sitharaman begins speaking on Direct taxes, referring to Mahabharata’s Shanti Parva
Rs 1Lakh crore allocated to help states catalyze economy
RBI to Issue Digital Rupee in Fiscal 2022-23 using Blockchain technology
Voluntary exit for corporates to be cut down to 6 months from 2 years: FM
FM Nirmala Sitharaman presents Budget 2022: To reduce the delay in payment, an online bill system to be launched which will be used by all Central ministries
Effective Capital Expenditure of the Central Govt is estimated at Rs 10.68 lakh crores in 2022-23, about 4.1% of GDP: FM Nirmala Sitharaman
4 pilot projects for conversion of coal to energy to be launched
Optical fibre to be laid out in all villages by 2025
The laying of optical fibre in all villages will be completed by 2025, says FM. A task force for the promotion of Animation, Visual Effects, Gaming, and Comics will be set up, aiming to employ youths in the visuals and animation sector. “Settlement of 75% of running bills in 10 days to be established. To reduce delays in payment, paperless e-bills to be set up by the Ministries,” says Sitharaman.
Defence R&D will be opened for Industry, Startups: FM Sitharaman
Defence R&D will be opened up to industry, startups, and academia with 25% of defence R&D budget. Private industry will be encouraged to take up design and development of military platforms and equipment. 68% of R&D budget in defence has been earmarked for Make In India. An Umbrella body for Defence Equipment certification will also be set up.
Budget 2022: All villages should have the same access to digital resources as urban areas, says FM Sitharaman
Push for Electric Vehicles: A battery-swapping policy to be brought out with interoperability standards to boost EV ecosystem
Budget 2022: Required spectrum auction for 5G rollout to be conducted in FY22-23.
Budget 2022: Transport sector to gets ₹ 20,000 crore boost
Use of Kisan Drones to be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients: FM Nirmala Sitharaman
Budget 2022: Hospitality services by small and medium sector yet to bounce back, says FM Sitharaman
For urban capacity building, support will be provided to states – mass transit, planning help, etc.
Implementation of Ken-Betwa rivers linking with estimated cost of ₹ 44, 605 crore to be taken up.
75 digital banking units to be set up in 75 districts to promote online payments, says FM Sitharaman
E-passports using embedded chips and futuristic tech to be launched this fiscal
PM eVIDYA to be expanded from 12 to 200 channels, says FM Sitharaman in her budget speech: ‘One class, one TV channel’ program of PM eVIDYA will be expanded from 12 to 200 TV channels. This will enable all states to provide supplementary education in regional languages for classes 1 to 12, announces FM Sitharaman
PM eVIDYA to be expanded from 12 to 200 channels, says FM Sitharaman in her budget speech
Post Offices to Come Under Core Banking System: 100 per cent of post offices to come under core banking system, allowing online transfer between post offices and bank accounts through UPI, net banking, etc, says FM Sitharaman
Benefits For small enterprises:
MSMEs such as Udyam, e-shram, NCS & Aseem portals will be inter-linked, their scope will be widened. They will now perform as portals with live organic databases providing G-C, B-C & B-B services such as credit facilitation, enhancing entrepreneurial opportunities. A fund with blended capital raised under co-investment model facilitated through NABARD to finance startups in agriculture & rural enterprises for farm produce value chain
PM Awas Yojana Gets Boost: Housing projects allotted Rs 48,000 cr for FY23 under PM Awas Yojana scheme. Rs 60,000 crore allocated to cover 3.8 cr households for tapwater, says FM
₹1500 Crore Allocated For PM Development Initiative For The Northeast in FY 23, announces FM
New scheme for North-east India in Budget 2022: Development initiatives for NorthEast will be launched, announces FM Sitharaman
National system for mental health support to be launched soon, announces FM Sitharaman
Digital ecosystem for skilling to be launched soon , says FM Sitharaman
Budget 2022 proposes Boost for Railways under Gati Shakti Plan
1. 400 new-generation Vande Bharat trains will be developed and manufactured in the next 3 years.
2. One station, one product’ concept will be popularised to help local businesses.
3. India plans 100 cargo terminals in 3 years
Budget 2022 to benefit farmers: Procurement of wheat in Rabi season 2021-22 and the estimated procurement of paddy in Kharif season 2021-22 will give cover 1208 lakh metric tonnes of wheat and paddy from 163 lakh farmers and Rs 2.37 lakh crores will be the direct payment of MSP value to their accounts, announces FM Sitharaman
ECLGS to be extended up to March 2023, guaranteed cover extended by another Rs 50,000 crore. Total cover under scheme now Rs 5 lakh crore
Efforts of central, state governments leading to jobs, entrepreneurial opportunities, says FM Sitharaman
400 new generation Vande Bharat will be developed during the next three years: A total of 400 new generation Vande Bharat will be developed during the next three years. 100 multi-modal connectivity points between mass urban transport and rail network will be taken up on priority under PM Gati Shakti, announces FM Sitharaman
PM Gatishakti masterplan for expressways will be formulated in next financial year: PM Gatishakti master plan for expressways will be formulated in the next financial year. The scope of PM Gatishakti masterplan will encompass the seven engines of economic transformation, said FM Sitharaman
Inclusive development, productivity enhancement, energy transition and climate action four pillars of development, announced FM Sitharaman
There was a sharp increase in public investment & capital expenditure in Budget 2021-22…This Budget (2022-23) will benefit, youth, women, farmers, SC, ST… ; shall be guided by PM Gati Shakti master plan
FM Sitharaman Announces Budget For Ken-Betwa Link Project To Help Farmers, Provide Irrigation Benefits
States to be encouraged to revive Agricultural Universities, says FM Sitharaman during Budget 2022 speech
100 new cargo terminals to be developed in next 3 years, says FM Sitharaman
National Highways to be expanded by 25k km, says FM Sitharaman
This Union Budget seeks to lay foundation and give a blueprint of the economy over ‘Amrit Kal’ of next 25 years – from India at 75 to India at 100, said FM Nirmala Sitharaman
LIC IPO Shortly, mentions FM Nirmala Sitharaman in her Budget Speech
India expecting 9.2% economic growth this fiscal, says FM Sitharaman
Finance Minister Nirmala Sitharaman rises to present Union Budget 2022-23
Aviation fuel prices see sharp hike of 8.5% ahead of Budget 2022: ATF price hiked by a steep 8.5 per cent to record levels across the country, as per Oil company price notification
Ahead of Budget 2022, the price of 19.2-kg commercial LPG cylinder has been cut by Rs 91.50. It will now cost Rs 1,907/cylinder
Modi Cabinet approves Budget, FM Nirmala Sitharaman to present Budget speech at 11 am: The Union Cabinet on Tuesday approved the Budget 2022-23 which will be presented by Finance Minister Nirmala Sitharaman in Parliament. The meeting that began at around 10:20 am ahead of the Budget presentation has now concluded.
PM Modi chairs Cabinet meeting to approve Union Budget 2022.
Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications, and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others arrive at the Parliament for the union cabinet meeting ahead of the presenting of the Budget 2022.
