Union Budget 2022
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This comprised Rs 18.8 lakh crore of tax revenue (net), Rs 3.38 lakh crore of non-tax revenue, and Rs 34,219 crore of non-debt capital receipts.
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From common citizens to tax traders, there are many expectations from 2023's budget. Keshav Bhajanka, The Executive Director of Century Ply, has many expectations from Indian Government on this year's budget session. He said, 'Government should give Production Linked Incentive Scheme (PLI) or Candidate Incentive even on furniture exports.'
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After the presentation of the budget of Yogi Sarkar 2.0, Chief Minister Yogi Adityanath said in a press conference that this budget is a vision of 5 years. Yogi said that every section has been taken care of in the budget. He said that farmers have been given relief in the budget.
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The first session of the 18th Legislative Assembly of Uttar Pradesh began with a ruckus by the opposition, Governor Anandiben Patel reading out the address amidst the noise and sloganeering.
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As part of this series, it said, post-budget webinar with title 'Financing for growth and aspirational economy' is being organised by the Finance Ministry on March 8. The webinar will have five breakaway sessions on themes of financing of infrastructure.
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The opening plenary session of the webinar will be addressed by PM Modi The objective is to brainstorm with experts
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Prime Minister Narendra Modi addressed a webinar organized by the Ministry of Education on the implementation of the Union Budget 2022-23. PM Modi said, it is necessary to increase the capacity of the education sector.
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Stressing that the Union Budget will help in implementing National Education Policy, the PM said, “National Digital University is an unprecedented step. The problem of shortage of seats can be resolved. There will be unlimited seats. I urge all stakeholders to ensure digital university starts as soon as possible.”
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The government in September 2019 slashed corporate tax rate for companies that do not avail of any tax incentive, to 22 per cent. New manufacturing companies have to pay at an even lower corporate tax rate of 15 per cent. The Budget 2022-23 presented on February 1 proposed that the concessional 15 per cent corporate tax rate would be available for one more year till March 2024.
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Impact of Budget on Salaried individuals. Hike in NPS govt contribution for state govt employees. Extension of revised ITR filing window.
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Commonly used items like earphones, headphones and loudspeakers, umbrellas along with solar cells and solar modules and even toys are set to see a price hike due to an increase in customs duties on imported parts.
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Cash in banks are sanitised and even working from home gets benefited due to paperless work. Therefore, reading the budget using a tablet can be referred to as digitization of the economy. Meanwhile, she said the reduction in corporate tax has also brought confidence among investors.
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FM asserted that Virtuous cycle of investment expected to revive on the back of capex and crowd in private investment. She further added that the explanation about crypto should be crystal clear. There should be a clear distinction between crypto assets owned privately and digital currency.
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FM Sitharaman is in exclusive talks with Sudhir Chaudhary of Zee News Catch all the live updates here.
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The Centre forecasts growth of 8% to 8.5 percent for the current fiscal year, compared to an anticipated 9.2 percent. He said that planned expenditure on infrastructure will ensure jobs creation.
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The AVGC sector offers immense potential to employ youth, Budget 2022 said. MPL's CEO Sai Srinivas said that gaming and animation is one of those sectors that have an incredible amount of exploring potential.
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No respite on Income Tax slab in the Budget. Revised ITR filing window increased. Move aimed to help in case of less filing of tax.
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“What I liked the most about the Union Budget is that it was named ‘Amrit kaal’. The government has laid down the roadmap to steer the economy over the next 25 years – from India at 75 to India at 100, in this year’s budget,” said Dr. Subhash Chandra.
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However, the firm noted that the boost is short on major growth-enhancing structural reform announcements. The planned acceleration in the infrastructure capex drive will likely provide a fillip to near- and medium-term growth if fully implemented.
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Sitharaman presented the Union Budget 2022. She noted that with Budget 2022, the government will promote energy transition and climate action. Das said that the next one or two years are going to be a net positive for the industry as a whole.
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“The budget also focused on modernizing Indian agriculture with a focus on organic farming. This will make farming more lucrative. Kisan drones and other machinery will be made available to the farmers at reasonable prices,” PM Modi.
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Aatrey said that Union budget 2022 is forward-looking and inclusive. He says Budget 2022 lays down the road map for an ‘Aspirational India’.
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