Nirmala Sitharaman presents #Budget2022 in Parliament, #Sensex jumps over 800 points
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The Budget seeks to lay a blueprint for the next 25 years, says the finance minister.
“We are confident of withstanding challenges amid the coronavirus pandemic,” says #NirmalaSitharaman.
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Nirmala Sitharaman says the government strives to provide necessary ecosystem for middle class.
“This Budget hopes to lay the foundation for Amrit Kal from India at 75 to India at 100,” she adds.
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400 new generation Vande Bharat trains will be developed and manufactured in next 3 years, #NirmalaSitharaman says as she speaks about the PM Gati Shakti project.
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#NirmalaSitharaman informs Parliament that metro systems, muti-model connectivity will be facilitated on priority along with 100 Gati Shakti cargo terminals in the next three years.
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#Budget2022 to lay foundation for the next 25 years, says FM Nirmala Sitharaman
“We are confident of withstanding challenges amid the coronavirus pandemic,” says #NirmalaSitharaman.
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Government will pay Rs 2.7 lakh crore direct payment of minimum support price for wheat and paddy.
Sitharaman adds that usage of Kisan Drones will be promoted for crop assessments and spraying of insecticides. #Budget2022
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Finance minister now moves on to highlight the education divide among under privileged children amid the #CoronavirusPandemic.
She says a new portal will be launched for skill development.
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“One Class, One TV channel” will be expanded from 12 to 200 television channels.
This will assist states to provide supplementary education in all regional languages, according to #NirmalaSitharaman.
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#NirmalaSitharaman announces the launch of National Tele Mental Health programme, saying the Covid pandemic has “accentuated mental health problems”.
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400 new generation Vande Bharat trains will be developed and manufactured in next 3 years, Sitharaman says as she speaks about the PM Gati Shakti project.
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Government will pay Rs 2.37 lakh crore direct payment of minimum support price for wheat and paddy.
Sitharaman adds that usage of Kisan Drones will be promoted for crop assessments & spraying of insecticides.
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E-passports using embedded chips and futuristic tech will be rolled out in 2022-’23, says the Finance Minister #NirmalaSitharaman.
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#NirmalaSitharaman informs the House that PM Development Initiative Scheme for North East will be launched.
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#NirmalaSitharaman says 75 digital banking units will be established by scheduled commercial banks in 75 districts to encourage digital payments.
She adds that 1.5 lakh post offices to come under core banking systems.
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Finance minister informs the House that spectrum auction will be conducted in 2022 for 5G rollout. Opposition asks, “What about BSNL?”
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#NirmalaSitharaman says 68% of capital procurement budget in defence will be earmarked for domestic industry in 2022-’23. This is up from the 58% last fiscal.
Defence R&D will be opened up for start ups in a big push.
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Finance Minister announces that announces digital rupee using blockchain and other technologies to be introduced by the Reserve Bank of India in 2022-’23.
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#Budget2022
The capital expenditure has been stepped up sharply by 35.4% to Rs 7.50 lakh crore for financial year 2022-’23.
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Data centres and energy storage systems to be given infrastructure status, says #NirmalaSitharaman. She says this will provide easy financing.
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Finance minister proposes to increase tax deduction limit from 10% to 14% for state government employees to bring them at par with central government staff.
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#Budget2022: Fiscal deficit for this financial year revised to 6.9% of #GDP, breaching the target of 6.8%.
Fiscal deficit target for next financial year pegged at 6.4% of GDP.
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The government says virtual digital assets to be taxed at 30% without any deduction.
#NirmalaSitharaman says gifts of digital assets also to be taxed in hands of the recipient.
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In her Budget speech, the finance minister announces tax relief for persons with disabilities.
The payment of annuity or lump sum for disabled dependent will be exempted.
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#UnionBudget2022 | “GST revenue has been buoyant despite the pandemic” - #NirmalaSitharaman
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#Budget2022: 400 new-generation trains, 25,000 km of highways announced under PM #GatiShakti project
The project is an initiative to attract private investments for the transport sector.
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The gross Goods and Services Tax collection for January 2022 is Rs 1,40,986 crores, the highest since inception of #GST, the finance minister says.
“GST revenue has been buoyant despite the pandemic,” she adds.
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The central government proposes to reduce the minimum alternative tax for cooperatives from 18.5% to 15%.
It also proposes to reduce co-operative surcharge from 12% to 7%.
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#Budget2022
The project aims to bring together 16 ministries including railways and roadways for smoother and faster implementation of infrastructure projects across the country.
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#Budget2022
Custom duty on cut and polished diamond reduced to 5%. Custom duty is being increased on sodium cyanide.
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#NirmalaSitharaman said that the Union government’s capital expenditure in financial year 2022-’23 will be Rs 7.50 lakh crore from Rs 5.54 lakh crore in this fiscal – an increase of 35.4%.
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#Budget2022: Centre breaches fiscal deficit target this year, pegs shortfall at 6.4% of #GDP for 2022-’23
The deficit between the government’s earnings and spending this year came at 6.9% of the GDP, while the target was to limit it at 6.8%.
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#Congress criticises the #Budget2022, saying it has nothing for the middle class
“India’s salaried class and middle class were hoping for relief in times of pandemic, all round pay cuts & back breaking inflation,” says Randeep Singh Surjewala.
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Congress leader Shashi Tharoor says he is “concerned about lack of substance for common citizens” in Finance Minister Nirmala Sitharaman’s #Budget2022.
(Image Courtesy: @ANI)
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Jayant Sinha, Member of Parliament (Lok Sabha) and chairperson of Parliamentary Standing Committee on Finance, says #NirmalaSitharaman presented a “pro-growth Budget”
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#Budget2022
West Bengal CM #MamataBanerjee also says the Budget has nothing for common citizens and that the Modi government is lost in “big words signifying nothing”.
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Congress leader Jairam Ramesh says the Modi government is promoting “ecologically disastrous river-linking projects”.
In her Budget speech, Finance Minister #NirmalaSitharaman proposed a project to link five rivers in India.
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#Budget2022 | Key highlights
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#Budget2022 | Key highlights
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#Budget2022 | Key highlights
Catch all the #BudgetSession2022 updates: scroll.in/latest/1016370
#Budget2022 | Key highlights
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Finance Minister #NirmalaSitharaman proposed that the tax deduction limit of state government employees should be increased from 10% to 14%.
The government did not announce any change in personal income tax slabs. #Budget2022
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5G spectrum auctions, e-passport among digital initiatives announced by Centre
The Reserve Bank of India will also issue a new digital rupee using blockchain and other technologies in the upcoming financial year. #Budget2022
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#Budget2022
Centre to launch National Tele Mental Health programme amid Covid pandemic
Finance Minister said that the programme will include a network of 23 tele mental health centres of excellence across the country.
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#Budget2022 is people-friendly and progressive, says Prime Minister Narendra Modi
The prime minister said that the document is filled with new possibilities for infrastructure, investment, growth and jobs.
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#Budget2022-23 has given special attention to ensuring pucca houses, tap water, toilets & gas connections, PM Modi said.
He added that the document has also given emphasis to modern internet connectivity.
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#Budget2022-23 has been welcomed by people from all sectors, says PM Modi.
“The positive reactions of common people have increased our enthusiasm to serve the people,” he said.
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Rahul Gandhi alleges that the #Budget2022 has nothing for the welfare of salaried people, the middle class, the poor, the youth, farmers and micro, small and medium enterprises.
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RBI has the authority to issue a digital currency and everything else, including crypto, are assets: Nirmala Sitharaman
Her comments are in the context of the 30% tax on digital assets announced in the Budget on Tuesday.
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Arvind Kejriwal says that the people had many expectations from the #Budget2022 as it was announced during the time of the coronavirus, but the Budget has left people disappointed.
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#Budget2022 presented gives no relief to farmers and is silent on the promise of doubling farmers’ income by 2022: Chhattisgarh CM Bhupesh Baghel
Baghel says that the Budget lacks any provision to complete items from previous budgets
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#Budget2022
Opposition leaders say farmers, poor and middle-class ignored, BJP calls it ‘visionary’
Many politicians highlighted the wide inequality in the country as well as raised concerns over unemployment.
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#Budget2022: Centre allocates Rs 51,971 crore to settle Air India’s debts
Tata Sons was given a debt of Rs 15,300 crore with 100% shares of the Air India & Air India Express & 50% shares of the airport service provider Air India SATS.
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#Budget2022: Union Finance Minister #NirmalaSitharaman said that ‘chemical-free farming’ would be promoted in the country.
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#UnionBudget2022: Nirmala Sitharaman listed several measures to support the agriculture sector.
She said that government would facilitate a fund with blended capital raised under the co-investment model through India’s NABARD.
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#Budget2022: The scheme ensures 100 days of guaranteed wage employment of unskilled manual work to at least one adult member of every household in rural areas.
In 2021 Budget, the Centre had also allocated Rs 73,000 crore to the rural job guarantee scheme
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#Budget2022: Finance Minister Nirmala Sitharaman said that the Centre is committed to promoting self-reliance in equipment for the armed forces.
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#Budget2022: Sitharaman said that 25% of the defence research and development budget will be opened for industry, startups and academia.
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#Budget2022: Finance Minister #NirmalaSitharaman said that the time period has been extended to provide #Taxpayers a window to correct filing errors.
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#BudgetSession2022: Sitharaman said that currently if the Income Tax Department came across erroneous estimates by a taxpayer, it went through a lengthy process of adjudication.
The minister added that the new process puts trust in the taxpayer. scroll.in/latest/1016441/
#Budget2022: The #Budget focused on digital currency, large infrastructure projects and small businesses, among other things.
Here are some of the major announcements:👇
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#Budget2022highlights: The #UnionBudget2022 also focused on large infrastructure projects and small businesses. #cryptocurrency #crypto
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Here are some of the major announcements:👇
#BudgetSession2022: Union Finance Minister #NirmalaSitharaman said at a press conference that the government has not hiked any taxes this year on instructions from Modi.
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#BudgetSession2022: Sitharaman did not announce any changes in income tax slabs. She, however, announced that updated income tax returns can now be filed within two years.
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