Budget 2022 India, FM Nirmala Sitharaman Speech Live Updates: Speaking at a press conference after presenting the Union Budget, Finance Minister Nirmala Sitharaman said a conscious decision was taken not to increase taxes because of the hardship that people have been facing due to the pandemic.
Budget 2022 Updates:
Hailing the 2022 Union Budget as “people-friendly” and “progressive”, Prime Minister Narendra Modi Tuesday said the Budget brings with it new energy and strength to India’s development trajectory, especially at a time when the country is fighting the pandemic. “This Budget brings more infrastructure, more investment, more growth, and more jobs,” he said. The Prime Minister said that the youth of India see this Budget as one that will give wings to their ambitions, and added that the emphasis on futuristic technologies in all spheres is noteworthy and will benefit a cross-section of our citizens. PM Modi, however, said that he will be speaking about the Budget in detail tomorrow.
Speaking at a press conference after presenting the Union Budget, Finance Minister Nirmala Sitharaman said a conscious decision was taken not to increase taxes because of the hardship that people have been facing due to the pandemic. Sitharaman, while presenting the Union Budget, said that the country is expected to grow at 9.27 percent in the coming year. With a focus on four pillars of development — inclusive development, productivity enhancement, energy transition, and climate action — the Budget gives a blueprint of the economy from India at 75 to India at 100, Sitharaman said.
The Budget estimates the effective capital expenditure of the Central government at Rs 10.68 lakh crore in 2022-23, making up about 4.1 percent of the GDP. The gross GST collections for the month of January 2022 are Rs 1,40,986 crore — the highest since the inception of the tax in 2017 — the Finance Minister said. In a major push for digital currency, Sitharaman stated that the digital rupee will be issued using blockchain technology by the RBI starting 2022-23. This will give a big boost to the economy, the Finance Minister said. She added that income from the transfer of any virtual digital asset shall be taxed at the rate of 30 percent.
