Budget 2022

Budget 2022 Hilights  1. Expand Highway network by 25,000 km 2. Electric Vehicles Infrastructure to be upgraded, Batteries to be considered as a service 3. Spectrum Auction for 5G in 2022 4. Optical Fibre in All India villages by 2025  5. Rollout of 5G in 2023 6. 19,500 Cr. in PLIs for High-efficiency modules in solar 7. Capex stepped up by 35.4%, from INR 5.50 Cr. to IN 7.50 lakh crore for 2022 with embedded chips to be rolled out in 8. E-passports 2022-2023 9. 10.68 lakh crore expected for 2022-2023, capital expenditure over 4% of GDP  10. Govt. will introduce digital rupee using blockchain technology in 2022-2023. Digital rupee to beissued by RBI  11. Fiscal Deficit revised to 6.9% of the GDP 12. New updated I-T returns can be filed in 2 yrs. 13. Surcharge for Cooperative society reduced from 12% to 7% for income of IN 1 Cr. - INR10 Cr.  14. Tax Incentives for start-ups increased by 1 yr. 15. Tax deductions for state employees to NPS increased to 14% 16. Concessional Tax

Finance Minister Nirmala Sitharaman on Tuesday tabled the Union Budget for FY 2022-23 Highlighting the role of the  real estate   sector in India's economy, industry experts termed the Union Budget 2022-23 as a growth-inducing budget. Finance Minister Nirmala Sitharaman on Tuesday tabled the Union Budget for FY 2022-23. During the budget speech, Sitharaman announced the completion of 80 lakh homes under Pradhan Mantri Awas Yojana (PMAY) and also informed that for this, allocated Rs 48,000 crore under PMAY for urban and rural in FY23. The demand for affordable housing has been increasing in the past few years. Aditya Kushwaha, CEO and Director, Axis Ecorp said, "The real estate sector is the backbone of the economy and will play a pivotal role in this Amrit Kaal. The budget 2022 is growth-inducing and does the heavy lifting by sharply increasing capital expenditure. On the real estate aspect, the annual budget reinforces the Government's focus on affordable housing." H

  The Reason: Fall in contribution from telcos and lower dividend from RBI Finance Minister Nirmala Sitharaman announced that spectrum would be auctioned in 2022 to facilitate the rollout of 5G mobile services by private telecom operators. Despite this, the telecom sector is projected to contribute almost 27 per cent less in revenues to the government during FY’23 year-on-year. This, coupled with an expected decline in dividend from the Reserve Bank of India (RBI), would result in a 14 per cent fall in non-tax revenues at Rs 2.7 trillion during 2022-23 compared to the Revised Estimates of Rs 3.1 trillion in the current financial year. Spectrum auction, along with licence fees from telecom operators, is expected to fetch almost Rs 72,000 crore for the government during the current financial year, which is 33 per cent more than the budgeted Rs 54,000 crore. ICRA Chief Economist Aditi Nayar said telecom operators prepaid some of their deferred liabilities in the current financial year. Th

The prime minister said the Budget is "full of opportunities for more Infrastructure, more Investment, more growth, and more jobs". Prime Minister  Narendra Modi  on Tuesday said the Union Budget was “people friendly, progressive” and full of possibilities for infrastructure, investment, growth and jobs. In a televised statement, Modi said an important aspect of the Budget was welfare of the poor. It seeks to solve contemporary problems and create new opportunities for the common people, he said. “The Budget aims to ensure pucca house, toilet, tap water and gas connection for every poor household. At the same time focus is on modern Internet connectivity also,” the prime minister said. The Budget this year has come with a new confidence of development amidst the once-in-a-century calamity, Modi said, adding that it will create new opportunities for common people along with providing strength to the economy. The prime minister said the Budget is “full of opportunities for more

  Finance Minister Nirmala Sitharaman said the revised estimate of capital expenditure for this fiscal is Rs 6.03 lakh crore The Centre has allocated Rs 9,259 crore to  Air India  Assets Holding Limited (AIAHL), a government-owned special purpose vehicle set up to handle Air India's (AI) debt and non-core assets, for the next financial year starting from April 1, according to a Budget document. In the Budget speech on Tuesday, Finance Minister  Nirmala Sitharaman  said the revised estimate of capital expenditure for this fiscal is Rs 6.03 lakh crore. This includes an amount of Rs 51,971 crore towards settlement of outstanding guaranteed liabilities of AI and its other sundry commitments. In 2021-22, the Centre infused an equity of Rs 62,057 crore to clear AI’s dues before its disinvestment. Meanwhile, the civil aviation ministry has been allocated Rs 10,667 crore for FY23.

We are not taxing a currency (digital rupee) that is yet to be issued At the customary post-Budget media interactions, Finance Minister Nirmala Sitharaman and her topmost bureaucrats touched upon a number of issues. The minister said the government taxing income from digital virtual assets did not give them legitimacy and that issue was being dealt separately in the planned cryptocurrency Bill. She also expressed confidence that the Budget targets were achievable. Excerpts: On cryptocurrencies The RBI will be issuing a digital currency. A currency can be issued only by the central bank even if it is a cryptocurrency. Anything outside that though we refer to them as currencies, they are not so. Buying and selling is happening and profits are being made, and nothing stops me from taxing them. Taxing does not confer on them legitimacy. We are not taxing a currency (digital rupee) that is yet to be issued. Everything outside this is an asset created by individuals, and if profits are mad