UNION BUDGET 2022-2023

 

UNION BUDGET 2022-2023

 

             Finance minister NIRMALA SITHARAMAN presented union budget 2022-2023 in the loksabha.

       The focus of the union budget is on providing basic service to the poor ,middle , class & youth.

        Speaking at press conference after presenting union budget finance minister NIRMALA SITHARAM said a good & intelligent decision was taken not to increase taxes because of the people are facing the pandemic situation.

       Union budget says the country may grows at 9.27%by the next year with the focus of four folds of development INCLUSIVE DEVELOPMENT,PRODUCTIVITY ENHANCEMENT,ENERGY TRANSITION,CLIMATE ACTION.

       Prime minister NARENDRA MODI says that it is important that India becomes self reliant.

HIGHLIGHTS OF UNION BUDGET 2022-2023:

 

 

TAX

vNo change in income tax slabs for 2022-2023.

vTax relief for the persons with disability.

vProvision to file an updated return a payment of additional tax.

vVirtual digital assets to be taxed at 30%.

vTax deduction limit for state government employee contribution to NPS raised to14% from 10%.

vLong term capital gains to be subject to surcharge only at 15% for all assets

vCooperative societies will have to pay only 15% alternative minimum tax.

                

INFRA STRUCTURE

Ø PM gati shati national master plan atcost of RS-20,000 Crore.

Ø National highway network to be expanded by 25,000kms in 2022-2023

Ø National master plan on express ways will be formulated in 2022-2023.

 

Ø 400 new generation vande bharath trains to be manufactured in next 3 years.

Ø 60km of rope way project under the parvat mala project.

Ø Metro systems , multi model connectivity wil be facilitated on priority.

Ø 100 gati shakti cargo terminals in next 3 years

 

AGRICULTURE

      vObtainment of wheat ,paddy , & ragi crops benefiting over 1 crore framers.

vRs 2.37 lakh crore towards direct payment for minimum support price.

vChemical free natural farming to be promoted across the country.

v2022 to be year of millet support for the post harvest value.

vUsing kisan drones for crop assessment & spraying of pesticides.

vKEN-BETWA river linking project at a cost of RS 44,000 crore to be benefit.

 

 

                     DEFENCE

 

       68% Capital procurement budget earmarked for domestic procurement.

ü Private industry will be encouraged to take up design & development of military platforms & equipments.

 

HEALTH

 

vNational digital health ecosystem to be rolled out.

vNational tele mental health program to be set up to focus on mental health.

v23 tele mental health centers of excellence.

vBenefits to women & children through mission shakti, mission vatsalya, saksham anganwadi 7 poshan 2.0.

vRs 60,000 crore under HAR GHAR NAL SE JAL to cover 3.8 crore house hold in 2022-23.

 

EDUCATION

 

Digital university to be set up & to be made in different Indian languages.

Ø One class one tv channel with 200 channels to providesupplementary education in all regional language

 

DIGITAL DEVELOPMENT

 

·      RBI to introduce digital rupee using block chain technology in 2022-2023.

·      75 digital banking units to be set up across 75 districts.

·      E-passports with embedded chip& futuristic technology to be ruled out .

·      Unique  land parcel identification number for IT based management of land records.