Union Budget 2022 HIGHLIGHTS | Didn't Want To Hike Income Tax At The Time Of Pandemic, Says FM Sitharaman
Union Budget 2022 India HIGHLIGHTS: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2022-23 in the Lok Sabha.
Background
Union Budget 2022 India HIGHLIGHTS: Hello and welcome to ABP Live Blog for all the latest updates from the Budget Session 2022.The Finance Ministry had said that Finance Minister Nirmala...More
We're taking several steps to tackle these (unemployment & inflation) issues. Our govt didn't allow inflation to go double-digit. Yes, it breached the 6% limit for a month but never crossed it. However, before 2014 it was always in the range of 10,11,12,13: FM Sitharaman
When asked about the details of digital currency announcement in Budget 2022, Sitharaman said consultation with stakeholders is underway.
I have not tried to earn even a single paisa by increasing tax this year and even last year. PM had given clear instructions that people should not be burdened with taxes at the time of the pandemic, notwithstanding the deficit: FM Nirmala Sitharaman
While addressing the post-Budget press conference, FM Nirmala Sitharaman said that Covid-19 pandemic has definitely impacted jobs, but the Central government has been trying to help citizens recover successfully through various schemes.
FM Nirmala Sitharaman speaks on proposed Digital Rupee & cryptocurrencies.
While clearing air on the digital currency rollout announcement, the Finance minister said that cryptocurrencies, which are outside the central bank’s framework, are not currencies.
While answering to the question of no rebate in income tax slabs, FM Sitharaman said that government did not want to increase tax at the time of Covid-19 pandemic.
Additionally, she also said the same direction was given by PM Narendra Modi last year as well and it has been maintained this year too.
The Finance Minister also asserted that the government has been proved right on its fiscal assessments that were made for FY22.
Replying to the question of LIC IPO announcement made by Finance Minister in her Budget speech, she said that the much-awaited initial public offering (IPO) of LIC of India will in all probability happen this year.
While speaking to reporters, Sitharaman also said that the government's intent on privatisation was clear as Air India got cleared and even NINL has found its buyer.
We have been very realistic on communicating disinvestment plan and achieving it, she said.
After tabling Union Budget 2022, Finance Minister Nirmala Sitharaman addresses press conference.
Union Finance Minister Nirmala Sitharaman tables the Union Budget 2022 and Fiscal Policy Statement 2022-23 in Rajya Sabha.
House adjourned till tomorrow, 2nd February.
Priority given to agriculture, rural areas, welfare of all sectors followed by a focus on infrastructure. Introduction of 'Parvat Mala' project in my ministry is a great gift for hilly areas; will create jobs. Thankful to FM for this excellent Budget: Transport Min Nitin Gadkari
Customs duty on cut and polished diamonds, gems to be reduced to 5%: Finance Minister Nirmala Sitharaman
Corporate surcharge to be reduced from 12 per cent to 7 per cent. 1 per cent Tax Deducted At Source (TDS) on payments made on transfer of digital assets, says FM Nirmala Sitharaman.
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
Transfer of any virtual digital asset to be taxed at 30 per cent. Digital gifting will also be taxed from the recipient’s end: FM Sitharaman
"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," the Finance Minister said.
For 2022-23, allocation is Rs 1 lakh cr to assist the states in catalyzing overall investments in economy. These 50-year interest-free loans are over and above normal borrowings allowed to states. It'll be used for PM Gati Shakti-related&other productive capital investments of states: FM Sitharaman
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
Tax for cooperative societies has been reduced to 15 per cent to provide a level playing field between cooperatives and corporates, says FM Nirmala Sitharaman.
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
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
Digital University to be set up to provide access to students across country, to world class quality universal education, with personalised learning experience
University to be built on a network hub and spoke model, with collaboration of best public Universities: FM
100% of 1.5 lakh post offices will come under core banking system this year.
Implementation of Ken Betwa Linking project at est. cost of Rs. 44,605 Cr. to be taken up with irrigation benefits to 9.0 lakh hectare farmland, drinking water to 62 lakh people, 103 MW hydropower.
27 MW solar power generation Rs 1400 crores allocated in 2022-23: FM
Finance Minister Nirmala Sitharaman on new online bill.
68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta and reduce dependence on imports of defence equipment. This is up from the 58% last fiscal: FM Nirmala Sitharaman
In order to facilitate roll out of 5G mobile services by private telecom players, required spectrum auctions will be conducted in 2022, says Sitharaman.
Use of Kisan Drones to be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients: FM Nirmala Sitharaman
- Drone Shakti
- KAVACH - 2000 Km Road Network
- 400 New Vande Bharat Trains
- PM Gati Shakti Master Plan
- National Tele Mental Health Plan
- E-Passports New Provisions and updates
- Emergency Credit Line Guarantee Scheme (ECLGS) will be extended up to March 2023
- AICTE New Rules
- EV battery swapping policy
- Nari Shakti 3 New Schemes
- AVGC: Animation, Visual Effects, Gaming, and Comics
- Telecom: 5G Services facilitated
E-passports to be rolled out in FY22-23 to make processes easier, says FM Nirmala Sitharaman in her Budget speech.
National Tele mental health programme to be launched. NIMHANS to be nodal centre & IIIT Bengaluru to provide tech support: FM
Our government has comprehensively revamped schemes of the Ministry of Women and Child Development such as Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0 to provide benefits: FM Nirmala Sitharaman
PM development initiatives for North East will be implemented for the North Eastern Council... This will enable livelihood activities for youth and women... This scheme is not a substitute for the existing Centre or State schemes: FM Nirmala Sitharaman
Emergency Credit Line Guarantee Scheme has helped 130 lakh MSMEs: Govt
An open platform for the National Digital Health Ecosystem will be rolled out. It will consist of digital registries of health providers and health facilities, unique health identity and universal access to health facilities: FM Nirmala Sitharaman
PM Gati Shakti Master Plan for Expressways to be formulated in 2022-23, to facilitate faster movement of people and goods. NH network to be expanded by 25,000 km in 2022-23. Rs. 20,000 crores to be mobilized to complement public resources: FM Nirmala Sitharaman
'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: FM Nirmala Sitharaman
Chemical-free natural farming will be promoted throughout the country with a focus on farmers' land in 5 km wide corridors along the river Ganga, in the first stage: FM Nirmala Sitharaman
Production Linked Incentive (PLI) Scheme for achieving Aatmanirbhar Bharat has received an excellent response, with potential to create 60 lakh new jobs and additional production of 30 lakh crore during next Keycap digit five years: FM Nirmala Sitharaman
Highlights from Finance Minister's Budget 2022 speech so far:
* Drone Shakti: Startups to be promoted
* 2000 km of network to be brought under KAVACH
* 400 new-gen Vande Bharat trains to be built over the next three years
* Gati Shakti master plan for expressways to be made
* 100 new cargo terminals to be built over next 3 years
* PM E-Vidya to be expanded to 200 TV Channels, To Provide supplementary education for classes 1-12
Government plans to increase National Highways limit by 25,000 kms: FM Nirmala Sitharaman during her Budget 2022 speech
FM Sitharaman during her Budget 2022 speech
400 new generation Vande Bharat trains with better efficiency to be brought in during the next 3 years. 100 PM Gati Shakti Cargo terminals to be developed during next 3 years and implementation of innovative ways for building metro systems: FM Nirmala 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 and shall be guided by PM Gati Shakti master plan: Finance Minister Nirmala Sitharaman
This Union Budget seeks to lay foundation and give blueprint of economy over ‘Amrit Kal’ of next 25 years - from India at 75 to India at 100: FM Nirmala Sitharaman
Public issue of Life India Corporation (LIC) is expected shortly, says FM Nirmala Sitharaman during her Budget 2022 speech in Parliament.
We are in the midst of the Omicron wave, the speed of our vaccination campaign has helped greatly. I am confident that ‘Sabka Prayaas’, we'll continue with strong growth: FM Sitharaman
Starting her Budget speech, Finance Minister Nirmala Sitharaman said that India expecting a 9.2 per cent growth this fiscal.
The government is focused on citizen-centric reforms and this Budget aims to reform the economy over the next 25 years: FM Sitharaman tables Union Budget 2022
Finance Minister to table Union Budget 2022-23 shortly.
Senior Congress leader and former Finance Minister P Chidambaram will address a press conference at around 4 pm. The presser is likely to be Congress' reaction to FM Sitharaman Budget 2022-23.
Real Estate sector has pinned their hopes and started making suggestions and recommendations to Centre for including them in the Budget document.
Several experts and developers have requested the government to extend incentives on taxes for home loans, rental housing and rebate on income from renting of housing properties.
PM Modi, Defence Minister Rajnath Singh, Home Minister Amit Shah and other leaders arrive at the Parliament. See pictures.
Prime Minister Narendra Modi reaches Parliament to attend the Cabinet meeting where Nirmala Sitharman's Budget will get approval from other lawmakers.
Finance Minister Nirmala Sitharaman arrived at the Parliament after meeting President Ram Nath Kovid. PM Modi is expected to arrive in the Parliament shortly. A cabinet meeting will be held after which FM will table her fourth Budget.
A look at Finance Minister Nirmala Sitharaman's Budget speeches duration:
2021 - 1 Hour 40 Mins
2020 - 2 Hrs 42 Mins (Longest Ever)
2019 - 2 Hrs 15 Mins
Sensex: 58,617.60 (+603.39, 1.18%)
Nifty: 17,499.10 (+159.25, 1.00%)
First visuals of FM Sitharaman's meeting with President Ram Nath Kovind.
Just like last year, Finance Minister Nirmala Sitharaman will present the Union Budget 2022-23 in digital format for second time in a move to promote government's flagship Digital India program.
Finance Minister Nirmala Sitharaman to address a press conference at 3:45 pm after presenting the Union Budget 2022.
Ahead of Union Budget 2022, domestic benchmark incidents Sensex soared 582.85 points and is currently trading at 58,597.02. Meanwhile, NSE Nifty was also up by 156.20 points, currently at 17,496.05.
Finance Minister Nirmala Sitharaman and her team show the tab from which she will read out the Union Budget in Parliament today.
After reaching the Ministry of Finance, Finance Minister Nirmala Sitharaman is now going to meet President of India Ram Nath Kovid. After meeting the President, FM will reach Parliament to present Union Budget 2022.
Senior Congress leader and former Union Finance Minister P. Chidambaram has advised the government that it was a "time for contrition and change of approach, not for boasts" as he said the Economic Suvey 2021-22 shows the economy is the same place as it was at the end of FY2020 while people have suffered majorly.
India will comfortably meet its fiscal deficit FY22 target on the back of a strong rebound in revenues, said the Economic Survey 2021-22.
"The fiscal support given to the economy as well as to the health response caused the fiscal deficit and government debt to rise in 2020-21.
"However, a strong rebound in government revenues in 2021-22 has meant that the government will comfortably meet its targets for the year while maintaining the support, and ramping up capital expenditure," said the Survey tabled in the Parliament on Monday by Union Finance Minister Nirmala Sitharaman.
The government on Monday said there is no need for a separate discussion on the Pegasus issue now as the matter is sub-judice, while asserting that there was a consensus that the House not be stalled.
If Opposition parties want, they can raise any issue while speaking on the Motion of Thanks on the president's address, Parliamentary Affairs Minister Pralhad Joshi told reporters after an all-party meeting was held virtually.
Union Finance Minister Nirmala Sitharaman arrives at the Ministry of Finance. She will present the Budget 2022 today in Parliament at 11 am.
Setting up a separate ministry and creating special scheme on digital literacy for the elderly are among the recommendations made by some NGOs for the upcoming budget.
HelpAge India, a not-for-profit working for elder care, in its budgetary recommendations to the central government, sought a set of measures that should be undertaken in three core areas -- income and social security, health and geriatric care, and creating an enabling environment for elders
PM Modi expects that every group, be it the ruling side or the Opposition, should sit together and listen to the presenting of the Budget and cooperate: MoS Finance Bhagwat Karad
Defence Minister Rajnath Singh said on Monday during the all-party meeting that only President's address, and the tabling of Budget is scheduled to happen in the first half of the Budget Session.
"We have said that if the parties cooperate in smooth functioning of the Parliament, the government is ready to discuss all issues. We hope that this session will run smoothly," he further said.
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