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Budget 2022 Highlights: Get Details Here
Current Affairs Milkyway Blogs 04-Feb-2022 Comments (17) 18

Budget 2022 Highlights: Get Details Here

Union Finance Minister of India “Smt Nirmala Sitharaman” presented the annual budget for the 2022-2023 session on Tuesday. In her budget presentation briefing, she highlighted the important topics related to the development of the country. In her note in the Parliament House, she said that the country is expected to grow at the rate of 9.27% in the coming year. 

The minister also said that this new budget is the blueprint of the Indian economy from 75th year to 100th citing the further improvement with four pillars of the development that are productivity enhancement, inclusive development, energy transition and climate action.

The finance minister “Nirmala Sitharaman” said that the budget will provide great benefits to various sections of the society including women, youth, farmers and the backward classes. The “Gati Shakti,” master plan of the Prime Minister will boost the development process of these social classes, she added further. 

Important points of the budget session include these topics:

  1. An increase in the capital expenditure and public investment from the budget year of 2021-2022 to 2022-2023.
  1. Digital currency will be issued by the Reserve Bank of India through Blockchain Technology.
  1. The income tax will be charged at the rate of 30% including 1% transaction on the transfer of virtual digital assets. 
  1. This budget will be for “Amrit Kaal” for the development and boosting the economy of the country for the next 25 years till the century of its independence. 
  1. The surcharge of corporates is brought down from 12 to 7%. 
  1. Under PM Awas Yojana, about 48,000 crore rupees has been allocated for the construction of 80 lakh houses for the 2022-2023 financial year.
  1. Custom duties on gemstones and polished diamonds are cut to 5%.
  1. Rupees 2.37 lakh crores will be paid directly to the account of farmers in MSP value.
  1. Focus on four major priorities of the “PM Gati Shakti” scheme: inclusive development, sunrise opportunities, productivity investment and enhancement, climate action, financing of investments and energy transition. 
  1. Atmanirbhar Bharat scheme received a good response and will create 60 lakh new jobs with 30 crores additional production for the upcoming five years. 
  1. Strengthen of NABARD to boost rural and agricultural organizations.
  1. North Eastern Council will boost the development tasks in the areas of northeast India. It will also enhance the livelihood of the people living in those areas. 

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