Budget Highlights 2022-2023: Sector-wise Highlights of 2022 Union Budget presented by Finance Minister Nirmala Sitharaman; WATCH

Budget Highlights 2022-2023 Video: Sector-wise highlights of the 2022 Union Budget presented by Finance Minister Nirmala Sitharaman on February 1st.

 Sector-wise highlights of the 2022 Union Budget presented by Finance Minister Nirmala Sitharaman:

1. Four priority areas in Budget to steer economy for 25 years
2. PM Gati Shakti, Inclusive Development, Climate Action and Energy Transition
3. Issuance of E-passports to be rolled out this year
4. India to roll out own Digital Currency by 2023
5. 5G spectrum auctions to be conducted this year
6. Capital expenditure is being stepped up to Rs 7.5 lakh crore
7. Expands credit availability to MSMEs in hospitality sector by Rs 50,000 crore
8. The outlay for public capital expenditure has been stepped up sharply by 35.4% from Rs 5.54 lakh crore to Rs 7.50 lakh cr.
9. FM reduces Alternate Minimum Tax on co-operative societies tax rate to 15% from 18.5%
10. Gift of cryptocurrencies to be taxed at the receiver’s end
11. New provision to allow taxpayers to file an updated return. Updated returns can be filed within 2 years from the end of the relevant assessment year.
12. Taxpayers can now file an updated return within 2 years from the relevant assessment year
13. 30% tax on proceeds of virtual/digital assets with no deductions other than cost of acquisition
14. 1% TDS to be levied on payments made on transfer of digital assets
15. Tax Deduction Limit for State Govt Employees to NPS Raised to 14% From 10%
16. Budget Makes No Change In Personal Income Tax Slabs
17. For electric vehicle booster special policy on battery swapping
18. Increase of EV battery production and development, special privilege to private sector
19. 60 Lakh new jobs under the “Make in India”
20. Focus on natural farming – zero budget farming
21. Rs.2.7 lakh Cr allocation to farmers under MSP
22. In next three year 400 new Vande Bharat trains will be added
23. Set-up of Digital Universities
24. 75 new digital banking units to be built
25. Fresh allocation on solar module of ₹.19,500 crore
26. In Union Budget, Finance Minister Nirmala Sitharaman’s 5 infra push projects

The Finance Minister’s 5 big infra push projects:

• Highway expansion by 25,000 km
• Rs 60,000 crore on Nal se Jal scheme
• Five river link projects across various states
• Rs 48,000 crore on PM housing scheme
• North East infrastructure development