BUDGET 2022 HIGHLIGHTS
On Tuesday finance minister Nirmala Sitaraman announced the second budget in the covid phase. Nirmala Sitaraman announces that the budget focuses on health, well-being, infrastructure, inclusive development, energy transition, and climate action. She also mentions that the Indian economy is estimated to grow by 9.9 % and 60 lakhs of new jobs will be created under the productivity scheme.
The finance minister also said that there is a boom in public investment and capital expenditure in the budget 2021-22, This budget will be fruitful for youth, women farmers, and backward classes.
|BUDGET 2022 HIGHLIGHTS
SOME HIGHLIGHTS OF THE INDIAN BUDGET 2022
- The country’s economy is expected to grow at 9.2% aided by the Nirmala straw man in the next coming fiscal year.
- RBI is going to issue its digital currency through the blockchain technology process in 2023, This will bring a major boost to the digital economy.
- Any income from digital assets will be taxable for 30 % plus 1% tax on the transaction.
- Five Rivers Tapi, Narmada, Godavari, Krishna, and Kaveri will be linked together, after the consensus with states, the center will provide support to begin the project.
- Private players will establish a 5G spectrum auction in 2022 to roll out 5G telecom.
- Taxpayers can now update the tax file within two years in case of any mistake from the relevant assessment year.
- The government will build 400 new vande Bharat trains and 100 PM gati shakti cargo terminals in the coming next 3 years.
- To promote online education digital universities will be established which will provide education in a different language.
- One class and one TV channel will be introduced to provide formal education in a different language to students to fulfill the educational gap caused by Covid
- 68% capital procurement budget is earmarked for domestic procurement.
- Design and development for military platforms and equipment will be taken by private industry.
- To surface, the green infrastructure government will issue green bonds.
- Tax relief is provided to a person with a disability.
- PM Gati Shakti is announced by the government. It includes development, productivity enhancement, investment sunrise opportunities, energy transition and climate action, and financing investment.