Union Budget 2022

Union Finance Minister Nirmala Sitharaman today tabled the Union Budget for 2022 in Parliament. This is the 4th Union Budget presented by Minister Nirmala Sitharaman.

nirmala seetharaman

The parliamentary budget session for 2022 began yesterday. President Ramnath Govind addressed the Parliament yesterday and inaugurated the budget session. 

The Economic Survey was tabled in Parliament yesterday by Finance Minister Nirmala Sitharaman ahead of the budget. 

In this, Nirmala Sitharaman made several important announcements regarding agricultural projects, including approving the Cauvery-Pennar Link project.

Reduction in the minimum tax rate for cooperative societies from 18.5% to 15%.

1400 crores Allocated for hydro and solar projects.

Increase in contribution under the new pension scheme for State Government employees from 10% to 14% like central government employees.

30 percent tax on transaction of digital assets(Crypto Transaction).

union budget digital assets

Tax incentives for new companies extended till March 2023.

The additional tax on long-term investment returns is set at 15%.

The decision to reduce import duty on electronics manufacturers, including cell phones, to 7.5%.

20% increase in tax on umbrellas; Reduction of tax on unpolished diamonds to 5%.

No change was made in the income tax ceiling in the federal budget.

48000 crores allocated for Housing schemes.

Reduction of corporate tax from 12 percent to 7 percent.

The new digital currency will be introduced by the Reserve Bank within this FY23.

An allocation of Rs 50,000 crore to provide emergency loans to small and micro-enterprises.

5G Auctions are to be completed by FY23.

union budget 5g

Skill Centers will be set up at a cost of Rs 280 crore for urban development.

The government planned to promote Startup for Drone manufacturing.

5 lakh crores allocated to Cover for the hospitality sector.

Taxpayers can File updated Returns. These updated returns are to be filed within 2 years.

Made in India project can Create 6 million new jobs. 

Private firms Are invited for Defense R&D with DRDO.

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