Digital Media

BUDGET 2022 HIGHLIGHTS

February 2, 2022
MarketingMindsKnowledge

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
BUDGET 2022 HIGHLIGHTS

 

SOME HIGHLIGHTS OF THE INDIAN BUDGET 2022

  1. The country’s economy is expected to grow at 9.2% aided by the Nirmala straw man in the next coming fiscal year.
  2. 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. 
  3. Any income from digital assets will be taxable for 30 % plus 1% tax on the transaction. 
  4. 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.
  5. Private players will establish a 5G spectrum auction in 2022 to roll out 5G telecom. 
  6. Taxpayers can now update the tax file within two years in case of any mistake from the relevant assessment year. 
  7. The government will build 400 new vande Bharat trains and 100 PM gati shakti cargo terminals in the coming next 3 years. 
  8. To promote online education digital universities will be established which will provide education in a different language. 
  9. 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
  10. 68% capital procurement budget is earmarked for domestic procurement.
  11. Design and development for military platforms and equipment will be taken by private industry.
  12. To surface, the green infrastructure government will issue green bonds.
  13. Tax relief is provided to a person with a disability.
  14. PM Gati Shakti is announced by the government. It includes development, productivity enhancement, investment sunrise opportunities, energy transition and climate action, and financing investment.