Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022 for the financial year 2022-23 amid the serious situation of coronavirus infection. He made big announcements for many sectors including jobs, homes, farmers, defence, business, and crypto. He has described this budget as the 'blueprint' of the next 25 years. Sitharaman has presented the budget for the fourth time after taking over as the Finance Minister in 2019. Read below the highlights of his speech in Parliament.
Nirmala Sitharaman Budget Speech 2022
12:31PM: Nirmala Sitharaman's budget speech ends.
Custom duty on cut and polished diamonds and gems will be reduced to 5%.
The cooperative surcharge will be reduced from 12% to 7%.
To further the electronics manufacturing, duty concessions were given for the higher development of electronics items.
Taxpayers deserve applause who have contributed diligently towards better taxation and fulfillment of their responsibilities in GST.
A provision of capital expenditure of Rs 7.5 lakh crore has been made in the Union Budget for 2022-23. In 2022-23, this expenditure will be 2.9 percent of GDP.
The existing tax benefits for Startups that were offered redemption of taxes for 3 consecutive years will be extended by 1 more year.
Tax deduction limit on employer's contribution to NPS account of state government employees increased to 14%.
One percent TDS will be levied on cryptocurrency and 30 percent tax will be levied on the income earned from it.
The tax rate for cooperative societies has been reduced to 18 percent. It is proposed to raise it to 15 percent and reduce the surcharge from 12 percent to 7 percent.
The effective capital expenditure of the central government in 2022-23 is estimated to be Rs 10.68 lakh crore, which is about 4.1% of the GDP.
The target is to reduce the fiscal deficit to 6.4 percent in the financial year 2022-23. Total income excluding expenditure and borrowings is estimated to be Rs 22.84 lakh crore in FY 2023.
Proposed tax exemption in the pension of government employees.
Parents of Divyang will get tax exemption.
Correction in ITR error allowed for two years.
Digital currency will be introduced using blockchain and other technologies, RBI will issue it from 2022-23.
Reserve Bank of India will launch digital currency in 2022-23.
The Animation, Visual Effects, Gaming, and Comics (AVGC) sector has immense potential to employ the youth. An AVGC Promotion Task Force will be set up with all stakeholders to build our domestic capacity for market and global demand.
An additional allocation of Rs 19,500 crore will be made for the target of 280 GW of solar capacity by 2030.
Sovereign Green Bonds will be issued in public sector projects to reduce the carbon footprint initiative in the economy.
The National Ropeway Development Program for conventional roads in hilly areas will be taken up in PPP mode, which will give a boost to tourism.
Between 2022-23, the length of the national highway will be increased to 25000 km, 20 thousand crore rupees will be spent on highway expansion.
Union Finance Minister Nirmala Sitharaman- 100% of the 1.5 lakh post offices will come on the core banking system in 2022 to facilitate financial inclusion.
Union Finance Minister Nirmala Sitharaman- Our government is committed towards Atma Nirbhar Bharat in the armed forces. 68% of the capital purchase budget will be earmarked for the domestic industry in 2022-23, up from 58% in 2021-22.
Union Finance Minister Nirmala Sitharaman- An online billing system will be launched to reduce delays in payment and will be used by all Union Ministries.
Union Finance Minister Nirmala Sitharaman- Will start 5G service this year. By 2025, the work of laying optical fiber in the villages will be completed.
Union Finance Minister Nirmala Sitharaman- The private sector will be encouraged to create sustainable and innovative business models for battery and energy as a service, thereby improving efficiency in the EV ecosystem.
Union Finance Minister Nirmala Sitharaman- 'One Nation, One Registration' will be set up for anywhere registration to facilitate ease of living and doing business.
Union Finance Minister Nirmala Sitharaman- With the repeal of 1486 union laws, Ease of Doing Business 2.0 will be launched.
Union Finance Minister Nirmala Sitharaman - Railways will create new products and efficient logistics services for small farmers and small and medium enterprises.
Union Finance Minister Nirmala Sitharaman- Emergency Credit Line Guarantee Scheme (ECLGS) to be extended till March 2023, increasing the guarantee cover from Rs 50,000 crore to a total of Rs 5 lakh crore.
Union Finance Minister Nirmala Sitharaman – In 2022-23, contracts will be given for 8 ropeway projects of 60 km length.
Union Finance Minister Nirmala Sitharaman - The skilling program will be revamped. For skilling, upskilling, and reskilling of our youth, Digital Desh e-portal will be launched.
Union Finance Minister Nirmala Sitharaman- Our government has comprehensively revamped schemes like Mission Shakti, Mission Vatsalya, Saksham Anganwadi, and Poshan 2.0 of the Ministry of Women and Child Development to provide benefits.
Union Finance Minister Nirmala Sitharaman- PM e Vidya's 'One Class, One TV Channel' program will be increased from 12 to 200 TV channels. This will enable all the states to provide supplementary education in regional languages from classes 1 to 12.
Union Finance Minister Nirmala Sitharaman – 80 lakh houses will be built in villages and cities.
Union Finance Minister Nirmala Sitharaman – Chip e-passports will be made.
Announcement of Finance Minister Nirmala Sitharaman – Will give jobs to 60 lakh people.
Union Finance Minister Nirmala Sitharaman- MSME will get additional help of two lakh crore rupees.
Union Finance Minister Nirmala Sitharaman- Procurement of wheat in Rabi season 2021-22 and estimated procurement of paddy in Kharif season 2021-22 will cover 1208 lakh metric tonnes of wheat and paddy from 163 lakh farmers and an estimated MSP of Rs 2.37 lakh crore The price will be paid directly to them.
Union Finance Minister Nirmala Sitharaman- PM Gati Shakti is powered by 7 engines: Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure. All 7 engines will push the economy together.
Union Finance Minister Nirmala Sitharaman – The Production Linked Incentive (PLI) scheme to create an Atmanirbhar Bharat has received an excellent response, with the next keycap digit being 60 lakh new jobs and 30 lakh crore additional generation potential during five years. Is.
Union Finance Minister Nirmala Sitharaman- Our priorities are PM Gati Shakti, Inclusive Growth, Productivity Growth and Investment, Sunrise Opportunity, Energy Transition and Climate Steps, and Funding of Investments.
Union Finance Minister Nirmala Sitharaman- 400 new generation Vande Bharat trains with better efficiency will be brought during the next 3 years. During the next 3 years, 100 PM Gati Shakti Cargo Terminals will be developed and innovative methods will be implemented to build the metro system.
Union Finance Minister Nirmala Sitharaman- Natural farming will be promoted along the Ganga Corridor.
Union Finance Minister Nirmala Sitharaman- Budget 2021-22 saw a sharp increase in public investment and capital expenditure. Youth, women, farmers, scheduled castes, scheduled tribes will benefit from this budget (2022-23). It will be guided by PM Gati Shakti Master Plan.
Union Finance Minister Nirmala Sitharaman- We are in the middle of the Omicron wave, the pace of our vaccination campaign has helped a lot.
Union Finance Minister Nirmala Sitharaman- India's growth rate is estimated to be 9.27%.
Union Finance Minister Nirmala Sitharaman announced Union Budget 2022 in Parliament.
On booking this Samsung number-1 phone, you are getting a smartwatch worth 28 thousand in 3 thousand!
Samsung Galaxy S22 Ultra 5G On Amazon: If you want to buy a new phone, then Amazon is getting a great offer on Samsung's most expensive phone. On buying this phone, you can buy Samsung Galaxy Watch4
Third death in 3 days from corona in Chandigarh, 15 died in 31 days, 367 active cases, 64 new patients found
In Chandigarh, 3 people died due to the coronavirus in three days. A 59-year-old woman died on Tuesday. On Wednesday, a 22-year-old girl lost her life due to infection. At the same time, on Thursday,
Indian Government's Digital Strike: Banned 348 Mobile Apps, Some Of It Made In China
The Indian government has blocked more than 300 mobile apps. According to the PTI report, the Indian government has identified 348 mobile apps made in different countries of the world including China
US-China: Will America impose sanctions on China as well? Action can be taken if military aid is sent to Russia
After imposing a lot of sanctions on Russia during the Ukraine war, America is now going to tighten the reins on China as well. It has been revealed by quoting American officials and sources that
Ratan Tata Death: Film stars paid tribute to Ratan Tata, and said- the world has lost a visionary
The country's famous industrialist 'Ratan Tata' said goodbye to this world at the age of 86. Ratan Tata was the real gem of India. He breathed his last at Breach Candy Hospital in Mumbai due to
Rakesh Sharma: 'Space travel changes the way of thinking'; Rakesh Sharma shared his old experiences
Rakesh Sharma, India's first astronaut to go to space in 1984, shared his travel experiences. He said that space travel changes a person's thinking. It helps them see the world from the perspective
Son of the most dangerous drug lord El Chapo arrested: Gang members fired on the plane in protest, burnt vehicles; 3 security personnel killed
Riots broke out in Mexico following the arrest of Ovidio Guzmán-López, the son of drug lord El Chapo. Gang members protesting against his arrest torched several vehicles on the streets.
Aamir Khan's reaction came on official entry in Oscars 2025 of Laapataa Ladies, X Wife revealed
It is a time of happiness for Aamir Khan and Kiran Rao, as his film Missing Ladies (Laapataa Ladies) has found a place at the Oscars. Missing Ladies, who were released in theaters last year, got an
RG Kar Case: CBI investigated the crime scene in RG Kar; Emergency Building-Principal Office also searched
The CBI is investigating the rape and murder of a female trainee doctor at RG Kar Medical College-Hospital in Kolkata, West Bengal. They inspected the spot at the hospital on Sunday. Apart from this,
Weather Update - Heavy rain in Kerala, chances of thunderstorms in these states, know how the weather will be in your area
The Meteorological Department has also given good news to the people watching the path of the monsoon. With the entry of monsoon in Kerala, the wait for monsoon has intensified in different states of
