Tag: Finance Minister Nirmala Sitharaman

A new updated return filing system is proposed wherein a voluntary updated return can be filed within 2 years from the end of the relevant Assessment Year (AY)

The FM has taxed high where that hurts Indian local industries, and has gone liberal where the imports as inputs are critical for Indian industries to run the show

Pandemic blow is writ large. As against the 15th FC award of Rs 114,777 cr to Odisha for FY 21-23, State will be receiving Rs 70,674 cr

Under the PM e-Vidya programme, there will be 200 DTH channels dedicated to Classes 1 to 12, which will enable all the states to provide supplementary education in regional languages, the Finance Minister said.

What is noteworthy is the investment in cargo terminals, logistic parks, railways modernisation and importantly, the integration between the transport systems, it said.

There will also be a 1 per cent tax deducted at source (TDS) on the payments made for the transfer of digital assets.

Sitharam kept her look simple and elegant with the Bomkai Patta saree which was weaved in two colours- brown and red. She paired her saree with a white shawl and white face mask.

For better land records management, Sitharaman said the states will be encouraged to adopt Unique Land Parcel Identification Number to facilitate IT-based management of records.

The minister said that defence research and development will be opened up for the industry, startups and academia with 25 per cent of the defence research and development budget earmarked.

The programme will consist of 23 tele-mental health centres as a part of the network with NIHMANS being the central agency.

Coming to the Budget Estimates, the total expenditure in 2022-23 is estimated at Rs 39.45 lakh crore, while the total receipts other than borrowings are estimated at Rs 22.84 lakh crore.

In her Budget speech on Tuesday, Sitharaman stated that the risks of climate change are the strongest negative externalities that affect India and other countries.

The tax proposals will come into effect from April 1 after the passage of the Union Budget in Parliament.

At present, the Post Office deposits limited transfer of funds within their ecosystem as the same was not connected to the banking ecosystem..

The Finance Minister further said that Kisan drones will be used for crop assessments, land records, and spraying of insecticides to drive a wave of technology in the agriculture and farming sector.