Delhi (The Stellar News) Saksham Kalia: Union Finance Minister Nirmala Sitaraman today presented budget 2022 in the second year of the covid-19. “We strive to provide necessary ecosystem for middle class. This Budget hopes to lay the foundation for Amrit Kal from India at 75 to India at 100,” Ms Sitharaman said today.
Considering the increasing usage of digital assets, in an unprecedented decision government has applied 30% tax on the digital assets transfer. A new digital rupee using blockchain technology will also be introduced by the Reserve Bank of India, or RBI, this fiscal. The Union Budget 2022 also comes in a month when assembly elections will be held in five states.
The government has kept the income tax slabs unchanged. Minister also said that, the gross GST collection in January at record Rs 1,40,986 crore, possible due to rapid economic recovery.
She added that, Tax for cooperative societies reduced to 15 percent and Digital rupee using blockchain and other technology to be issued by RBI starting fiscal 2023. Capital expenditure raised by 35.40 per cent from ₹ 5.54 lakh crore to ₹ 7.50 lakh crore 68 per cent capital for procurement for defence will be for domestic industry. All post offices to be linked with core banking solution to push financial inclusion.
Nirmala sitaraman also announced these projects for fiscal 2022-2023, “Spectrum auction will be conducted to roll out 5G mobile services within 2022-23 by private firms. One Class 1 TV channel to be launched to give supplementary education to children to make up for loss of formal education due to COVID-19, transliteration of land records in 8 languages will be rolled out, for urban capacity building, support will be provided to states – mass transit, planning help, etc. Digital payments have grown at rapid pace. Benefits of digital banking should reach every nook and corner. Taking forward this agenda, we will set up 75 digital banking units in 75 districts by scheduled commercial banks.
2 lakh Anganwadis to be upgraded with better facilities. Drone Shakti through various application centres for start-up that work on drone technology. Credit guarantee trust for micro and small enterprises will be revamped with required infusion of funds. This will give ₹ 2 lakh crore more for MSMEs.
“For better farming, we will provide comprehensive package with state government coordination”: Nirmala Sitharaman. 2,000 km under Kawach programme. 400 new generation Vande Bharat trains. 100 PM Gati Shakti cargo terminals. Rs 2.7 lakh crore direct payment of minimum support price for wheat and paddy, National Highways to be expanded by 25,000 km, PM Gati Shakti, inclusive development, productivity enhancement, energy transmission, climate action and financing of investment,
Before the actual presentation, the Cabinet headed by Prime Minister Narendra Modi has approved the Budget for the fiscal year 2022-23.
