Author Topic: Budget 2022 Live updates  (Read 451 times)

raman

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Budget 2022 Live updates
« on: February 01, 2022, 01:51:48 PM »
Key Highlights : Budget 2022

📍 GDP growth for FY 22 expected to be 9.2%, the highest for any large economy.

📍 PLI (Production Linked Incentive scheme) in 14 sectors for Aatmanirbhar Bharat to create 6 million jobs , additional allocation of Rs 19,500 crore for PLI in solar PV module manufacturing.

📍Promoting Fintech and digital economy a focus area for this Budget.

📍 75 digital banking systems in 75 districts by scheduled commercial banks.

📍 IBC to be amended to improve efficiency of resolution process including cross border.

📍 Core Banking Services to start in Post offices

📍 PM Gati-shakti masterplan Has scope to enhance Multimodal communication through 7 engines, 2000 km of rail network to be brought under KAVACH & Highway network to grow by 25,000 km in FY23.

📍Contracts for implementation of multimodal logistics parks at 4 locations to be awarded in 2022-23, in PPP Mode

📍 ECLGS (Emergency Credit Line Guarantee Scheme) to be extended upto March 2023, guaranteed cover extended by another Rs 50,000 crore

📍 8 million new dwelling in rural, urban areas to be completed under PM Awas yojana

📍 Rs 2.37 trillion worth of MSP direct payments to wheat and paddy farmers.

📍 Rs 2 trillion outlay for MSMEs, Additional loans for 13 mn MSMEs.

📍 Rs 48,000 crore allocated to housing projects under PM Housing Scheme for FY23, Rs 1,500 crore allocated for development of the Northeast in FY23 & Desh stack e-portal to be launched to promote Digital infra

📍 New provision to file updated return within 2 years of relevant assessment year.

📍 Alternate minimum tax for cooperative societies down from 18.5% to 15%

📍 Tax deduction limit for state govt employees to NPS raised from 10% to 14%

📍 Surcharge on Corporate tax pruned from 12% to 7% Surcharge on transfer of long-term capital gains tax capped at 15%

📍 Tax exemption to start-ups extended to March 2023.

📍 Gross GST collection for January 2022 at a record Rs 1.41 trillion

📍 No change  in income tax slab.

📍 Electric Vehicles battery-swapping policy to be brought out with interoperability standards.

📍Concessional duty on import of capital goods to be phased out.

📍 Duty on unpolished diamonds to be reduced to 5%

📍Customs duty on steel scrap extended by a year

📍RBI led digital rupee using blockchain to be launched in FY23, 1% TDS on transfer of virtual digital assets & income to be taxed at 30%

📍 68% of capital outlay for Domestic defence industry.

📍Revised Fiscal Deficit 6.9% of GDP in FY22 as against 6.8% in Budget estimates, Fiscal deficit at 6.4% in FY23

📍 Total expenditure in FY23 estimated at Rs 39.45 trillion ; total resources mobilisation to be Rs 22.84 trillion other than borrowing.



raman

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Re: Budget 2022 Live updates
« Reply #1 on: February 01, 2022, 01:54:28 PM »
  • no change in income tax slab

raman

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Re: Budget 2022 Live updates
« Reply #2 on: February 01, 2022, 01:58:21 PM »
e-passport to be issued in 2022-23

raman

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Re: Budget 2022 Live updates
« Reply #3 on: February 01, 2022, 02:01:53 PM »
a digital currency (rupee) will be issued by RBI(reserve Bank of India) in 2022-23

raman

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Re: Budget 2022 Live updates
« Reply #4 on: February 01, 2022, 02:06:30 PM »
Post Office accounts can be accessed through Net banking and mobile banking...



 


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