Budget 2022 Live streaming: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2022 in Parliament in a paperless format. She said that India's growth is estimated to be at 9.2%, the highest among all large economies. Stay tuned for all live updates and highlights on FM Sitharaman's speech on Republic World.
– Public issue of Life Insurance Corporation expected shortly: FM
– Union Budget seeks to lay foundation & give blueprint of economy over ‘Amrit Kal’ of next 25 years – from India at 75 to India at 100
– Budget to focus on 4 pillars – productivity, climate action, financing investments and PM Gati Shakti plan
– 400 new generation Vande Bharat trains with better efficiency to be brought in and 100 PM Gati Shakti Cargo terminals to be developed during next 3 years
– ECLGS to be extended till March 2023. The guaranteed cover will be expanded by Rs 50,000 crores to total cover of Rs 5 lakh crores to aid MSME sector financing needs
– Draft DPRs for 5 river links Damanganga-Pinjal, Par- Tapi-Narmada, Godavari-Krishna, Krishna-Pennar & Pennar-Kaveri have been finalized. Once consensus is reached among beneficiary states, centre will provide support for implementation
– 5G spectrum auction to be conducted in 2022 for rollout of 5G telecom services by private players in FY 2022-23
– To facilitate domestic manufacturing for ambitious goal of 280 GW of installed solar capacity by 2030, additional allocation of Rs 19,500 cr for PLI for manufacturing of high-efficiency modules with priority to fully integrate manufacturing units to solar PV modules will be made
– Digital rupee to be issued using blockchain and other technologies; to be issued by RBI starting 2022-23. This will give a big boost to the economy
– Income tax relief to cooperative societies with reduction in rate of surcharge from 12% to 7% for income upto Rs 10 crores
– Taxpayers can now file an updated return within 2 years from the relevant assessment year
– Income from virtual digital assets brought under tax net. Gaines taxable at 30% without any deduction except cost of acquisition
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