Budget 2022

While the government's labour to boost semiconductor manufacturing in India is bearing some fruits, it is still toiling hard to bring the railways' expenditure on track. This report explains how In 2016-17, while 11 per cent of Railways capital expenditure (capex) was funded by internal sources, in 2019-20 the ratio dropped to less than 1%. A 2015 Committee on Restructuring Railways had flagged that over-reliance on borrowings could exacerbate the financial situation of railways. Yet, financial ratios have deteriorated over the time. The operating ratio—the amount IR spends to earn Rs 100—has increased drastically over the years. In 2012-13, it spent Rs 90 to earn Rs 100; in 2019-20, it had to spend Rs 98 to earn Rs 100.   For the last two years, CAG has been highlighting how Railways is adjusting advance payments to manage its operating ratio. In 2017-18, for instance, Railways took advance payment for freight from NTPC and IRCON, which helped decrease its operating ratio from

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

'The introduction of digital currency will give a boost to the economy', said Shivraj Singh Chouhan Yogi Adityanath (Uttar Pradesh) "A progressive Budget 2022 as it benefits all sections, especially farmers, women and youth. Important announcements such as MSP, measures to double farmers’ income, 60 lakh jobs for youth, measures for women empowerment such as the Mission Shakti will boost our economy" K Chandrashekar Rao (Telangana CM) “It is a useless Budget that has no direction. It is a big zero for the agriculture and handloom sectors of India. It has left employees and small traders in deep despair. The central Budget has disappointed the working class and other taxpayers who were eagerly awaiting the changes in income tax slabs ” Mamata Banerjee (West Bengal) “The Budget has zero for common people, who are getting crushed by unemployment and inflation. The govt is lost in big words signifying nothing — a Pegasus spin Budget” Shivraj Singh Chouhan (Madhya Pradesh

Spectrum auctions to be conducted in 2022, expected rollout of 5G mobile services within 2022-23 Telecommunication • Spectrum auctions to be conducted in 2022, expected rollout of 5G mobile services within 2022-23 • Contracts for laying optical fibre in villages, remote areas, to be awarded under the Bharatnet project through PPP in 2022-23. Completion expected in 2025. • Allocation of 5% of annual collections under the USOF to enable affordable broadband and mobile service proliferation in rural and remote areas • New Scheme for design-led manufacturing to build a strong ecosystem for 5G as part of the PLI Scheme. • Data Centres to be given Infrastructure Status to boost sector financing Automotive • Focus on battery swapping technology with the Battery as a Service policy as an alternative to setting up charging stations in urban areas • Promoting shift to use of public transport in urban areas, clean tech and governance solutions, special mobility zones with zero fossil-fuel policy,

While tabling her fourth Budget, Nirmala Sitharaman said that it will lay the foundation for the next 25 year's economic growth. Let us examine what this Budget has in store for the country Budget 2022 saw a sharp increase in capital expenditure and the government committing enhanced support for the hospitality sector and related services. There was also an announcement that a digital rupee, using Blockchain, would be issued by the RBI soon. Among other things, the government also rejigged the customs duty structure.  The share of the Budget allocated to capital expenditure is the highest in 19 years. Budget 2022 has allocated 7.5 trillion rupees to capital expenditure. This is 35.4 per cent higher than the previous year’s allocation of 5.5 trillion rupees. It amounts to 19.02 per cent of the Budget’s total expenditure of 39.45 trillion rupees. The last time that the capital expenditure share touched a similar figure was when it came in at 19.32 per cent for the financial year 200