Finance Minister Nirmala Sitharaman has not announced any change in the personal Income Tax Slabs while presenting the Union Budget for the 2022-23 financial year. The FM has however announced that the government will provide an opportunity to taxpayers to correct an error, by filing an updated return within 2 years from the relevant assessment year.
Even as the middle and salaried class had a high hope over Union Finance Minister's Midas touch in the realm of personal taxes, the cautious Sitharaman didn't affect any change in the tax slabs, nor allowed a hike in the standard deduction.
When it comes to Budget Day, the lenses will be out to scan the proposals made by the Finance Minister keeping in mind more about the fact - how much money an individual can save post the budget.
Taxes have not been raised during the pandemic to collect additional funds for the massive spending programme of the government, Finance Minister Nirmala Sitharaman said on Tuesday in response to questions on her Budget belying expectations of a reduction in the income tax burden on the middle class.
In a signal of its commitment to Afghan people, India on Tuesday set aside in its budget for 2022-23 an amount of Rs 200 crore as development assistance to Afghanistan besides allocating Rs 100 crore for the Chabahar port project.
The Opposition on Tuesday slammed the Union Budget, calling it a "Pegasus spin budget" and a "zero-sum budget" that has nothing for the salaried class and the poor, even as Prime Minister Narendra Modi and BJP leaders hailed it as "people-friendly" with a focus on a building a self-reliant India.
The Union Budget has a provision of Rs 1.37 lakh crores of the capital investment support for the Railways. It will help complete the stalled Railways projects, said Railway Minister Ashwini Vaishnaw.
Indigenously-developed anti-collision technology KAWACH is SIL4 certified which means there is the probability of a single error in 10,000 years. Govt today announced that 2,000 km of the rail network will be brought under KAWACH, he added.
On the backdrop of the almost year-long agitation against the three contentious farm laws that were repealed, and the continued demand for increasing MSP for all farmers, the Centre on Tuesday announced a provision of Rs 2.37 crore for direct payment for MSP value in the Union Budget 2022-23.
While presenting the Union Budget for the year 2022-23, Union Finance Minister Nirmala Sitharaman on Tuesday announced that skilling programmes and partnership with the industry will be reoriented to promote continuous skilling avenues, sustainability and employability.
Pandemic snatched away so many jobs across the world. Our Atmanirbhar Bharat Package saved the jobs of a lot of people. We are trying to help those who lost their jobs, through various schemes. I am denying but it is not fair to say that we didn't do anything,, said Finance Minister Nirmala Sitharaman.
In further respite for startups amid the ongoing Covid-19 pandemic, the government on Tuesday announced to extend the period to avail tax incentives by one more year.
With an apparent buoyancy in the total revenue receipts of the Centre, where the revised estimates show an increase in the total tax receipts by over 16 percent and a projection of 6 percent rise in net revenue receipts in 2022-23, Union Finance Minister Nirmala Sitharaman in her fourth budget presented today has upped the net amount of taxes and duty transferred to Odisha.
Business Advisory Committee of Rajya Sabha chaired by M Venkaiah Naidu on Tuesday allocated time for the debates on the Motion of Thanks to President and on the Union Budget 2022-23. Leader of the House Piyush Goyal, LoP Mallikarjuna Kharge and others attended the meeting.
According to sourcres, Rajya Sabha will debate on Motion of Thanks to President for his address to MPs of both the Houses for 12 hours during the first part of the current Budget session.
The debate will start on February 2 at 11.30 am and the PM is likely to reply to the debate on February 8. The time allocated for this debate includes the time to be taken for the reply, sources added.
The Railway Ministry has been allocated Rs 140367.13 crore in the Union Budget on Tuesday - Rs 20,311 crore more than the revised figures of the previous fiscal.
Budget 2022-23 is a 'Garib Kalyan' Budget. It will empower the poor and labourers. This Budget is dedicated to the development of infrastructure, rural & hilly areas, and Northeast. This Budget is in line with Govt's policy of social justice and equality, said BJP chief JP Nadda.
This Budget will fulfill the expectation and aspirations of all sections of society including small and big industrialists. This is not an agenda of merely one year's development, but a blueprint of the country's development in the next 25 years, Nadda added.
The outlay for capex has been significantly enhanced by 35 per cent from Rs 5.5 lakh crore to Rs 7.5 lakh crore in the Union Budget, which is more than double the levels in FY20.
Finance Minister Nirmala Sitharaman announced on Tuesday that the government will expand the PM e-Vidya programme of 'One Class, One TV programme' from 12 to 200 TV channels to impart supplementary teaching and build a resilient mechanism for education delivery amid the Covid-19 pandemic.
This budget will bring in new hopes and opportunities for the people and strengthens the economy. It is full of 'more infrastructure, more investment, more growth and more jobs'. There is also a new provision of green jobs. The budget will ensure a bright future for youth, said Prime Minster Narendra Modi.
Union Railway Minister Ashwini Vaishnaw will brief media post General Budget in Conference Hall, Rail Bhavan at 4.45 PM today.
Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget for the financial year 2022-23, beginning April 1. In her shortest budget speech of one hour and 30 minutes, she announced several changes in customs duty which will result in the raise or fall in the prices of some essential commodities.
While presenting the Union Budget on Tuesday, Finance Minister Nirmala Sitharaman stated that the country is expected achieve a growth rate of 9.27 per cent, highest among all large economies.
Union Finance Minister Nirmala Sitharaman on Tuesday announced a National Tele-Mental Health Programme while presenting the Union Budget for 2022. The National Institute of Mental Health and Neuro-Sciences (NIMHANS), Bengaluru will be the nodal agency for this.
Giving clarity on taxation of cryptocurrencies and other virtual assets, Finance Minister Nirmala Sitharaman on Tuesday proposed a 30 per cent tax on income from transactions in such assets. Also, to bring such assets under the tax net, she proposed a 1 per cent TDS (tax deducted at source) on transactions in such asset classes above a certain threshold.
More than 35 crore Post Office deposit accounts with deposits aggregating Rs 10 crore will now be connected to the banking system. Finance Minister Nirmala Sitharaman announced connecting 1.5 lakh Post Offices to the core banking system in her Union Budget speech on Tuesday.
In order to provide equal treatment to both central and state government employees, Finance Minister Nirmala Sitharaman announced hike in tax deduction limit from 10 per cent to 14 per cent on employer's contribution to the National Pension System (NPS) account of state government employees. She said the move will bring the State government employees at par with central government employees.
Defence Minister Rajnath Singh congratulated Finance Minister Nirmala Sitharaman ‘on presenting an excellent Union Budget for 2022-23.’ "It is a Budget which would give fillip to ‘Make in India’, boost demand and build capacities for a stronger, prosperous and confident India. The Budget outlines the Government’s focus on Atamnirbharata and Prime Minister Narendra Modi’s vision for development and pro people reforms. It is a growth oriented Budget focused on harnessing the energies of New India,” he tweeted.
Finance Minister Nirmala Sitharaman on Tuesday delivered the Budget 2022-23 with her shortest budget so far. She spoke for one hour and 30 minutes, making it the shortest among the budget speeches that generally go for about 2 hours at least.
While presenting the Union Budget 2022-23 in Parliament on Tuesday, Finance Minister Nirmala Sitharaman announced the setting up of a digital university in the country as several children have suffered due to the Covid-19 pandemic-induced closure of educational institutions.
Finance Minister Nirmala Sitharaman has not announced any change in the personal Income Tax Slabs while presenting the Union Budget for the 2022-23 financial year. The FM has however announced that the government will provide an opportunity to taxpayers to correct an error, by filing an updated return within 2 years from the relevant assessment year.
Union Finance Minister Nirmala Sitharaman on Tuesday announced the launch of India's own digital currency by the RBI next year that will be based on Blockchain technology, while the much-expected Cryptocurrency Bill is yet to see the light of the day.
Union Finance Minister Nirmala Sitharaman introduced the Finance Bill 2022. Soon after the Lok Sabha was adjourned till tomorrow, 2nd February.
FM Nirmala Sitharaman announced that the Govt will provide an opportunity to taxpayers to correct an error, by filing an updated return within 2 years from the relevant assessment year. For taxation of digital assets shall be taxed at 30 per cent
Presenting the Union Budget for the year 2022-23, Finance Minister Nirmala Sitharaman announced that a new scheme ‘Prime Minister's Development Initiative for North East’ will be implemented through North Eastern Council. An initial allocation of Rs 1,500 crore will be made for the scheme.
"100 PM Gati Shakti cargo terminals for multimodal logistic facilities will be developed during the next three years," the Finance Minister said while presenting the Union Budget in Parliament on Tuesday.
Union Finance Minister Nirmala Sitharaman while presenting the Union Budget on Tuesday said that India is set to clock growth rate of 9.2 per cent, which could be the highest in the world in the current fiscal.
The Production-Linked Incentive (PLI) scheme across 14 sectors, including IT hardware manufacturing, has the potential to generate at least 60 lakh new job opportunities, Finance Minister Nirmala Sitharaman said on Tuesday.
In a major announcement, Union Finance Minister Nirmala Sitharaman said digital rupee will be issued using blockchain and other technologies. It will be issued by the Reserve Bank of India (RBI) starting 2022-23. This is expected to give a big boost to the economy.
Nirmala Sitharaman said 5G spectrum auctions to be carried out in calendar 2022 to enable launch of services within FY22-23. She said affordable broadband and mobile service proliferation will be made available in rural and remote areas. She added that 5 per cent of annual collections Universal Service Obligation Fund will be allocated.
In 2022, 100 per cent of 1.5 lakh post offices will come on core banking system to facilitate financial inclusion, said FM Nirmala Sitharaman. She also announced Digital Banking to every citizen - 75 digital banking units in 75 districts of the country will be launched.
Union Finance Minister Nirmala Sitharaman today said that ePassports will be rolled out in 2022-23 for convenience in overseas travel.
Union Finance Minister Nirmala Sitharaman while presenting the budget for 2022-23 announced that SEZ (Special Economic Zones) Act will be replaced with new legislation for the development of enterprise and hubs. She said it will cover the existing industrial enclaves and enhance the competitiveness of exports.
One Nation, One Registration' will be established for anywhere registration to facilitate ease of living and doing business, said Niramala Sitharaman. She said Battery Swapping Policy will be brought out and inter operational service will be formulated.
Presenting the Union Budget for the year 2022-23, Finance Minister Nirmala Sitharaman said skilling programmes will be reoriented. For skilling, upskilling and reskilling of youth, Digital DESH e-portal will be launched. She also announced that a digital university will be developed to provide access to students for world-class quality education with ISTE Standards.
As many as 400 new generation Vande Bharat trains with better efficiency to be rolled out in the next three years, informed Finance Minister Nirmala Sitharaman while presenting Union Budget 2022 on Tuesday. She added that 100 PM Gati Shakti Cargo terminals to be developed during the period.
Finance Minister Nirmala Sitharaman said that the LIC IPO is expected shortly. Make in India will create 6 million jobs. Besides, One Station One Product concept will be popularised.
Finance Minister Nirmala Sitharaman said the Union Budget 2022-23 will benefit, youth, women, farmers, SC, ST under the guidance of Prime Minister Gati Shakti master plan. She added that the Budget 2022 seeks to lay the foundation to steer economy over Amrit Kaal of next 25 years, from India at 75 to India at 100.
Finance Minister Nirmala Sitharaman said, “We are in the midst of the Omicron wave, the speed of our vaccination campaign has helped greatly. I am confident that with ‘Sabka Prayaas’, we will continue our strong growth.”
Union Finance Minister Nirmala Sitharaman announced the Union Budget 2022 in the Parliament. She said India's growth is estimated to be at 9.27 per cent.
The Union Cabinet chaired by Prime Minister Narendra Modi met ahead of the Budget and gave final nod to it. Finance Minister Nirmala Sitharaman will present the Budget at 11 a.m. in the Lok Sabha.
Atotal of 1,66,798 roads, measuring 6,84,994 km and 6,404 Long Span Bridges (LSBs) have been completed till January 18, 2022, under Pradhan Mantri Gram Sadak Yojana (PMGSY), Economic Survey 2021-22 data have showed.
The number of females per 1,000 males in the country has risen from 991 in 2015-16 to 1,020 in 2019-21, as per the Economic Survey tabled in the Parliament on Monday.
With the Union Finance Minister Nirmala Sitharaman all set to present the Union Budget for financial Year 2022-23 in the Parliament on Tuesday (February 1), Odisha is hoping to get more allocation of funds this fiscal.
The Economic Survey 2021-22 tabled in Parliament on Monday has confirmed the large scale loss of jobs and record unemployment in Odisha in 2021.
Odisha's inequitable development story has been busted by the satellites. The large stretches of dark spots amid a handful of brighter spots put the true picture of the State's economic strides on the larger canvas of development.
The reduction in excise duty on petrol and diesel provided relief to the consumers, the Economic Survey 2021-22 said.
The Centre in early November slashed excise duties on petrol and diesel by Rs 5 and Rs 10 per litre, respectively. Taking cue from this, some states too followed suit.
The number of new startups in the space sector more than doubled in 2021 to 47 as compared to the previous year numbers, said India's Economic Survey that was released on Monday.
According to the Economic Survey, the number of new startups in the space sector registered in 2021 was 47 up from 21 in 2020 and 11 in 2019.
India's economy is expected to grow by 8-8.5 per cent in the fiscal beginning April 1 and is well placed to meet the future challenges on the back of widespread vaccine coverage, supply-side reforms and easing of regulations, said the pre-Budget Economic Survey on Monday.
President Ram Nath Kovind on Monday said the areas where naxals operate and perpetrate violence have come down significantly over the years and now 70 districts in the country are affected by the menace, from an earlier 126 districts.
Finance Minister Nirmala Sitharaman on Monday presented the Economic Survey that details the state of the economy ahead of the government's Budget for the fiscal year beginning April 1, 2022.
Hailing the Indian startup success story, President Ram Nath Kovind on Monday said the burgeoning startup ecosystem has generated more than 6 lakh jobs to date.
Addressing the joint session of Parliament, Kovind said that since 2016, India has seen 60,000 startups in 56 different sectors.
Underlining the role and importance of women participation in the development of India, President Ram Nath Kovind on Monday said that women empowerment is one of the top priorities of the government.
Prime Minister Narendra Modi on Monday appealed to all political parties to extend their full cooperation in the smooth functioning of this Budget Session, and said that this session should not be hampered by the impending assembly elections. Read More...
President Ram Nath Kovind on Monday highlighted the achievements of the Modi government's mega COVID-19 vaccination drive, and noted that 150 crore doses were administered to the country's citizens in a record time. Read More...
On the first day on Monday, the President will address the Members of both the Houses after which copies of his address will be laid on the Table.
The fourth budget of Union Finance Minister Nirmala Sitharaman is coming at a moment when after the pandemic shock in FY21 due to the rampaging second wave, India’s economy is flashing the uptick signs.
Union Finance Minister Nirmala Sitharaman will deliver the run 8 to National Rail Plan when she presents the Union Budget on February 1. It is estimated that the capital expenditure gross budgetary support to Indian Railways in the upcoming budget will be over Rs 1.3 lakh crore.
The Union Budget 2022-23 process kick-started in October 2021, barely a couple of months after the disastrous second wave and the resultant lockdowns and shutdowns in many states, including Odisha, in the country. Will the budget offer the balm for the lockdown burden on employees?
With the Periodic Labour Force Survey (PLFS) 2021 clearly showing job loss in the age-group of 15-29 years, where the drop in worker-population ratio has been a high of 1.6 percent in the first quarter of 2021, the Union Budget 2022-23 is highly expected of delivering a booster shot to 'champion' job creation.
Unlike the earlier Union Budgets of 2020-21 and 2021-22, the budget 2022-23 will going to be presented at the Sunset moment of the Third Wave. Union Finance Minister Nirmala Sitharaman will be presenting her 'tablet' prescriptions for healthy growth on February 1.