SME Futures Editorial
Budget 2022 : Last Updated: February 01, 2022 12:20 pm IST
“This budget, like last few years, is focusing extremely on much needed physical and digital infrastructure which is going to create multiplier impact and sustainable growth path for the country”
Dr. Arun Singh, Global Chief Economist, D&B
Budget 2022 : Last Updated: February 01, 2022 12:20 pm IST
Cryptocurrency- FM imposes 30% tax on cryptocurrency transfers
“I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition,”
FM Sitharaman
Budget 2022 : Last Updated: February 01, 2022 12:20 pm IST
GST Rs 1,40,986 crores GST collection of January 2022
The gross GST collections for the month of January 2022 are Rs 1,40,986 crores which is the highest since the inception of GST.
Budget 2022 : Last Updated: February 01, 2022 12:14 pm IST
Government’s capital expenditure
Total FY23 expenditure
Total expenditure FY23 estimated at Rs 39.45 lakh crore
Total receipts barring borrowing are estimated Rs 22.48 lakh crore.
FY22 fiscal deficit
FY22 revised fiscal deficit is estimated at 6.9% of GDP.
FY23 fiscal deficit seen at 6.4% of GDP
Budget 2022 : Last Updated: February 01, 2022 12:14 pm IST
Tax deduction limit increased to 14% for Govt employees
Both Centre and States govt employees’ tax deduction limit to be increased from 10% to 14% to help the social security benefits of state govt employees and bring them at par with the Central govt employees
Budget 2022 : Last Updated: February 01, 2022 12:12 pm IST
Relaxation for tax payers
To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year. This will help in elimination the errors in taxation.
Budget 2022 : Last Updated: February 01, 2022 12:12 pm IST
Rs. 1 lakh crore assistance to states
For 2022-23, allocation of Rs 1 lakh crore to assist the states in catalyzing overall investments in economy. These 50-yr interest-free loans are over & above normal borrowings allowed to states. This allocation will be used for PM Gati Shakti-related & other productive capital investments of states.
Budget 2022 : Last Updated: February 01, 2022 12:12 pm IST
Digital Rupee
Digital rupee to be issued using blockchain and other technologies; to be issued by RBI starting 2022-23. This will give a big boost to the economy. Digital currency will lead to a cheaper currency management system.
Budget 2022 : Last Updated: February 01, 2022 12:12 pm IST
Rs 19,500 crores for Solar Installations
To facilitate domestic manufacturing for ambitious goal of 280 GW of installed solar capacity by 2030, addl allocation of Rs 19,500 cr for PLI for manufacturing of high-efficiency modules with priority to fully integrate manufacturing units to solar PV modules will be made.
Budget 2022 : Last Updated: February 01, 2022 12:11 pm IST
Implementation of Ken Betwa Linking project
The Ken Betwa Linking project, estimated to cost Rs 44,605 crore, will be undertaken, with irrigation benefits to 9 lakh hectares of farmland, drinking water to 62 lakh people, and 103 MW of hydropower. Solar power generation capacity of 27 MW. FM has allocated Rs 1400 crores for fiscal year 2022-23.
Budget 2022 : Last Updated: February 01, 2022 12:11 pm IST
10% increase in Defence Budget
68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta and reduce dependence on imports of defence equipment. This is up from the 58% last fiscal.
Budget 2022 : Last Updated: February 01, 2022 12:10 pm IST
Spectrum auction for 5G
Spectrum auction to be conducted in FY23, says FM
Contracts for laying optical fibres via PPP mode will be awarded in FY23, says Nirmala Sitharaman
Budget 2022 : Last Updated: February 01, 2022 12:10 pm IST
SEZ (Special Economic Zones) Act will be replaced
For the development of enterprise and hubs, the SEZ (Special Economic Zones) Act will be replaced with new legislations. It will cover the existing industrial enclaves and enhance the competitiveness of exports.
Budget 2022 : Last Updated: February 01, 2022 12:10 pm IST
Budget reaction on PM housing scheme
PM housing scheme – 48,000 will be alloted for FY23 for housing project, 80 Lakhs home will be built
“Very positive for the Real-estate sector”
Yash Gupta- Equity Research Analyst, Angel One Ltd.
Budget 2022 : Last Updated: February 01, 2022 12:07 pm IST
Online Payments for Ministries
To reduce the delay in payment, an online bill system to be launched which will be used by all Central ministries.
Budget 2022 : Last Updated: February 01, 2022 12:05 pm IST
SEZ (Special Economic Zones) Act will be replaced
For the development of enterprise and hubs, the SEZ (Special Economic Zones) Act will be replaced with new legislations. It will cover the existing industrial enclaves and enhance the competitiveness of exports.
Budget 2022 : Last Updated: February 01, 2022 12:05 pm IST
AVGC promotion task force
An Animation, Visual Effects, Gaming and Comics AVGC promotion task force with all stakeholders will be set up to recommend ways to realise this and build domestic capacity for serving our markets and the global demand. AVGC sector offers immense potential to employ youth.
Budget 2022 : Last Updated: February 01, 2022 12:02 pm IST
NABARD Fund
To finance startups for agriculture and rural enterprise and relevant for farm produce value chain, will be facilitated through NABARD Fund
Budget 2022 : Last Updated: February 01, 2022 12:00 pm IST
Kisan Drones
Use of Kisan Drones to be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients
Budget 2022 : Last Updated: February 01, 2022 12:00 pm IST
Universal Service Obligation Fund
5% annual collections under Universal Service Obligation Fund to be allocated for rural broadband internet. This will allow technology to be commercialised. According to FM, all villages and residences should have the same access to digital resources as urban areas and residences.
Budget 2022 : Last Updated: February 01, 2022 11:57 am IST
High-level committee for urban sector policies
High-level committee to be formed on urban sector policies. This will modernise building laws and town planning, says Finance Minister
Budget 2022 : Last Updated: February 01, 2022 11:55 am IST
400 new Vande Bharat trains in 3 years
New generation Vande Bharat trains with better Energy Efficiency and passenger riding experience to be manufactured in next three years
Budget 2022 : Last Updated: February 01, 2022 11:52 am IST
2,000 km of rail network under KAWACH
For safety and capacity augmentation, 2,000 km of rail network will be brought under the indigenous world-class technology KAWACH
Budget 2022 : Last Updated: February 01, 2022 11:50 am IST
Battery swapping policy
Govt to roll out interoperability standards, will encourage private sector for BaaS
For setting up charging stations at scale, the policy will be brought out and interoperability standards will be formulated. The private sector will be encouraged for Battery-as–Service, says FM
Budget 2022 : Last Updated: February 01, 2022 11:48 am IST
Expansion of Emergency Credit Line Guarantee Scheme (ECLGS)
(ECLGS) will be extended up to March 2023, the guaranteed cover will be expanded by Rs 50,000 crores to total cover of Rs 5 lakh crores.
“The extension of ECLGS with additional allocation to the hardest covid-hit sectors like hospitality is a welcome move to empower the struggling MSME’s in this sector to cope up with the vulnerabilities arising out of COVID induced challenges”
Yesha Shah, Head of Equity Research, Samco Securities
Budget 2022 : Last Updated: February 01, 2022 11:45 am IST
A National Tele Mental Health program
The Govt. Will launch a National Tele Mental Health program for betterment of the access to quality mental health counseling and care services. It will include a network of 23 tele mental health centres of excellence with NIMHANS being the nodal centre and IIIT Bangalore providing technology support.
CII has welcomed the announcement of Telemental Health programme.
“The pandemic has caused a silent global mental health epidemic. The use of telemedicine to diagnose and treat such patients has proved to be highly effective given the unobtrusive nature of the interaction which also ensures patient privacy. Given the shortage of mental health professionals, especially in rural areas, telemedicine will greatly enhance accessibility for patients requiring psychiatric help.”
Rana Mehta, Partner and Leader Healthcare, PwC India.
Budget 2022 : Last Updated: February 01, 2022 11:43 am IST
A new scheme for North East region
Rs 1,500 crore allocated for new scheme ‘PM Development Initiative for North East, says FM. This scheme will create opportunities for people in the northeast.
“PM development initiatives for North East will be implemented for the North Eastern Council… This will enable livelihood activities for youth and women… This scheme is not a substitute for the existing Centre or State schemes,” FM said.
Budget 2022 : Last Updated: February 01, 2022 11:40 am IST
Open platform for National Digital Health Ecosystem
“An open platform for the National Digital Health Ecosystem will be rolled out. It will consist of digital registries of health providers and health facilities, unique health identity and universal access to health facilities,”
FM Nirmala Sitharaman
Budget 2022 : Last Updated: February 01, 2022 11:35 am IST
PM Gati Shakti Master Plan for Expressways to be formulated in 2022-23
It will facilitate faster movement of people and goods. National Highways network to be expanded by 25,000 km in 2022-23. Rs. 20,000 crores to be mobilized to complement public resources.
Budget 2022 : Last Updated: February 01, 2022 11:30 am IST
‘One class, one TV channel’ program of PM eVIDYA will be expanded from 12 to 200 TV channels.
This will enable all states to provide supplementary education in regional languages for classes 1 to 12.
Budget 2022 : Last Updated: February 01, 2022 11:28 am IST
MSMEs will be interlinked and their scope will be widened.
MSMEs will now perform as portals with live organic databases providing G-C, B-C & B-B services such as credit facilitation and, enhancing entrepreneurial opportunities.
Budget 2022 : Last Updated: February 01, 2022 11:25 am IST
Chemical-free natural farming will be promoted throughout the country.
Along with a focus on farmers’ land in 5 km wide corridors along the river Ganga, in the first stage.
Budget 2022 : Last Updated: February 01, 2022 11:20 am IST
Rs 2.37 lakh crores will be the direct payment of MSP value to their accounts
Procurement of wheat in Rabi season 2021-22 and the estimated procurement of paddy in Kharif season 2021-22 will give cover 1208 lakh metric tonnes of wheat & paddy from 163 lakh farmers
Budget 2022 : Last Updated: February 01, 2022 11:18 am IST
PLI Schemes under Aatmanirbhar Bharat
The schemes have potential to create 60 lakh new jobs and additional production of 30 lakh crore during next Keycap digit five years.
Budget 2022 : Last Updated: February 01, 2022 11:18 am IST
Budget 2022 has four priorities
PM Gati Shakti, inclusive development, productivity enhancement and investment, sunrise opportunities, energy transition and climate action & financing of investments
Budget 2022 : Last Updated: February 01, 2022 11:15 am IST
Speedy vaccination has helped fighting with Omicron
We are in the midst of the Omicron wave, the speed of our vaccination campaign has helped greatly. I am confident that ‘Sabka Prayaas’, we’ll continue with strong growth.
FM Sitharaman
Budget 2022 : Last Updated: February 01, 2022 11:05 am IST
FM announces ‘Amrit Kal’
Union Budget 2022 to lay foundation & give blueprint of economy over ‘Amrit Kal’ of next 25 years – from India at 75 to India at 100 as set out by the Prime Minister in his Independence Day Address.
Budget 2022 : Last Updated: February 01, 2022 11:00 am IST
FM starts presenting the Budget 2022-23
FM starts with addressing the effects of Omicron on economy.
Budget 2022 : Last Updated: February 01, 2022 09:50 am IST
FM calls on President before presenting the Budget
Finance Minister Nirmala Sitharaman along with Ministers of State for Finance, Dr Bhagwat Kishanrao Karad, Shri Pankaj Chaudhary, and senior officials of the Ministry of Finance, called on President Ram Nath Kovind before presenting the Union Budget 2022-23.
Budget 2022 : Last Updated: February 01, 2022 09:45 am IST
Tablet replaces ‘bahi khata’
Finance Minister Nirmala Sitharaman will present budget 2022 in paperless format
The FM will present and read out the Budget 2022 at the Parliament through a tab, instead of the traditional ‘bahi khata’.
Budget highlights can be access via ‘Union Budget Mobile App’
Budget 2022 : Last Updated: February 01, 2022 09:24 am IST
Sensex jumps 600 points ahead of Budget, Nifty tops 17,500
Budget 2022 : Last Updated: February 01, 2022 09:15 am IST
Finance Minister Nirmala Sitharaman leaves Finance Ministry
