Budget 2022: Major announcements of finance minister Nirmala Sitharaman as part of her Budget 2022 speech include spectrum auction which will be held in 2022 for rolling out of 5G mobile services within 2022-23 by private firms. In Budget 2022 Big announcement for students, farmers Digital currency.
Here are major Announcement in Budget 2022:
FM’s announcements on digital education, digital university- For classes 1 to 12, 1 class 1 Tv channel will be extended from 12 to 12,000 TV channels, announced Nirmala Sitharaman, considering the loss of the education system due to the pandemic.
Nirmala Sitharaman announced a new tax rule for taxpayers where a taxpayer can file an updated return on payment of taxes within two years from the end of the relevant assessment year. This is a new provision which will ensure voluntari tax filing and reduce litigation, the FM said.
FM announces central bank digital currency, which will be a digital rupee using blockchain and other techs. It will be introduced by the RBI in 2022-23. This will give a big boost to the economy, Sitharaman said.
Capital Expenditure to increase 35.4% from Rs 5.54 lakh crore to 7.50 lakh crore. SEZ (Special Economic Zones) Act will be replaced with new legislation taking states on the board.
68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta and reduce dependence on imports of defence equipment. This is up from the 58% last fiscal: FM Nirmala Sitharaman.
Exemption for startups- Existing tax benefits for startups, which were offered redemption of taxes for 3 consecutive years, to be extended by 1 more year.
big announcement on 5G- 5G spectrum auctions to be carried out in 022 to enable the launch of services within FY 22-23. Issuance of E-passports will be rolled out in 2022-23 to enhance convenience for citizens. Ease of business 2.0 will be launched.
Also Read: Budget 2022: Customs duty changes for electronics, Income Tax Slabs Unchanged
Govt continuously encouraging digital banking. Taking forward, 75 digital banking units will be set up in 75 districts. Nirmala Sitharaman’s big announcement for farmers- Nirmala Sitharaman announced Rs 2.37 lakh crore worth of MSP direct payments to wheat and paddy farmers.
Also Read: LPG and Bank transaction: Major rules changing from today, 1 February 2022
Vande Bharat trains- 400 new-generation Vande Bharat trains with higher efficiency and better facilities for passengers will be developed in the next three years. PM Gati Shakti plan one of the four pillars of growth, says FM in her Budget speech. 25,000 km of national highways to be built in 2022-23, Sitharaman says.
Comments are closed.