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The Major Announcements In Budget 2022-23

The Major Announcements In Budget 2022-23 :

On february 1st the finance minister Nirmala Sitharaman presented the union budget for 2022-23. Where this project will focus on fast-tracking the economy, providing opportunities to businesses and infrastructure also feature prominently the proposals.

This project will bring development, infrastructure, investments. Which will provide opportunities to business and potentially creating 6 million new jobs. Today Sitaraman delivered 1 hour and 30 minutes speech from a tablet. She said “this budget seeks to lay the foundation and give a blueprint to steer the economy over the Amrit Kaal of the next 25 years from India at 75 to India at 100”.

The Major Announcements In Budget 2022-23 –

  1. In this budget government committed towards Bharat in armed forces 68% of the capital pure mint budget will be and marked for domestic industry for 2022 to 2023
  2. Capital expenditure gets a big boost. Outlet for capex in 2022 2023 is been increased from rupees 5.54 lakh crore to 7.50 lakh crore. It means capital expenditure increased sharply 35.4 %.
  3. Under emergency credit line guarantee scheme (ECLGS)1.5 crore MSME job due to rupees 2.9 lakh crore loans. ECL GS now extended upto March 2023.Guarantee cover extended by Rs. 50,000 crore and now total up to Rs.5lakh crore.
  4. The aim of taking digital banking to every citizen, 75 digital banking units in 75 district will be set up in the country.
  5. Students are having very tough time due to the covid-19 pandemic. To help the students and make a for this loss of formal education digital University is will be built on a hub and spoke model. One class S1 TV channel will be implemented to provide supplementary education.
  6. Virtual digital asset to be e taxed at 30% and 1% TDS on transfer of virtual digital assets.
  7. The reserve Bank of India will issue a digital currency based on blockchain and other technology.
  8. Sovereign green bonds to be issued in public sector project to reduce carbon footprint and initiatives in the country.
  9. Issuance of passports to be rolled out in FY 2022 to 2023.
  10. Chemical-free e natural farming will be promoted across the country, with the focus on agricultural land along the river Ganga in the first stage.
  11. Spectrum auctions will be conducted in 2022 to facilitate the rollout of 5G mobile services by private telecom companies.
  12. Income from long term capital gains will be taxed at 15%
  13. At the end of our honorable prime minister tweeted “today’s #Aatma nirbharBharatkabudget rings with eight new energy and strength to our development trajectory, specially at a time when we are courageously fighting once in a lifetime global pandemic. This budget brings more infra, more investment more growth and more jobs.
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