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Indian Finance Minister Nirmala Sitharaman presented the country's Budget for the year 2022-2023 on Tuesday (February 1) in the Parliament in the presence of Prime Minister Narendra Modi and other members.&nbsp;

While presenting the Budget, Sitharaman said that the government has comprehensively revamped schemes of the Ministry of Women and Child Development such as Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0 to provide benefits.&nbsp;

The finance minister further said that the PM development initiatives for North East will be implemented for the North Eastern Council, which will enable livelihood activities for youth and women. This scheme is not a substitute for the existing Centre or State schemes.&nbsp;

<a href="https://www.wionews.com/business-economy/live-india-union-budget-2022-finance-minister-nirmala-sitharaman-arrives-at-rashtrapati-bhavan-449352">Click here to get live updates</a>&nbsp;

Overall, this year's Union Budget seeks to lay the foundation and give a blueprint of the economy over 'Amrit Kal' of next 25 years - from India at 75 to India at 100.&nbsp;

Reflecting on the economy, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19).&nbsp;

The finance minister further said that the nation is in the midst of the Omicron wave but the speed of the vaccination campaign has helped greatly. She said, "I am confident that 'Sabka Prayaas' we'll continue with strong growth."

Indian Finance Minister Nirmala Sitharaman presented the country's Budget for the year 2022-2023 on Tuesday (February 1) in the Parliament in the presence of Prime Minister Narendra Modi and other members.

Indian Finance Minister Nirmala Sitharaman presented the country's Budget for the year 2022-2023 on Tuesday (February 1) in the Parliament in the presence of Prime Minister Narendra Modi and other members. While presenting the Budget, Sitharaman said that the government has comprehensively revamped schemes of the Ministry of Women and Child Development such as Mission Shakti, Mission Vatsalya, Saksham Anganwadi and Poshan 2.0 to provide benefits. The finance minister further said that the PM development initiatives for North East will be implemented for the North Eastern Council, which will enable livelihood activities for youth and women. This scheme is not a substitute for the existing Centre or State schemes. Click here to get live updates Overall, this year's Union Budget seeks to lay the foundation and give a blueprint of the economy over 'Amrit Kal' of next 25 years - from India at 75 to India at 100. Reflecting on the economy, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19). The finance minister further said that the nation is in the midst of the Omicron wave but the speed of the vaccination campaign has helped greatly. She said, "I am confident that 'Sabka Prayaas' we'll continue with strong growth."

Budget 2022: Revamped schemes for women & child development will provide benefits, says Sitharaman

As India's defences face multiple challenges across the country, India's finance minister Nirmala Sitharaman during the Budget 2022 presentation in Parliament announced a plan to boost the defence sector.

<a href="https://www.wionews.com/business-economy/india-union-budget-2022-pm-gati-shakti-plan-highlights-449450">Also Read:&nbsp;India Union Budget 2022 -&nbsp;PM Gati Shakti plan highlights</a>

Budget 2022: Key highlights in the defence sector:

<ul>
	<li>68 per cent of capital for the defence sector to be earmarked for local industry which is up from the 58 per cent from last fiscal.</li>
</ul>

<ul>
	<li>Defence R&amp;D to be opened up for startups, industry and academia with 25 per cent of defence R&amp;D budget.</li>
</ul>

<ul>
	<li>Private players to be encouraged to take up the design and development of military platforms in collaboration with DRDO.&nbsp;</li>
</ul>

<ul>
	<li>Promote Aatmanirbharta and reduce dependence on imports of defence equipment.&nbsp; 
	&nbsp;</li>
</ul>

As India's defences face multiple challenges across the country, India's finance minister Nirmala Sitharaman during the Budget 2022 presentation in Parliament announced a plan to boost the defence sector.

As India's defences face multiple challenges across the country, India's finance minister Nirmala Sitharaman during the Budget 2022 presentation in Parliament announced a plan to boost the defence sector. Also Read: India Union Budget 2022 - PM Gati Shakti plan highlights Budget 2022: Key highlights in the defence sector: 68 per cent of capital for the defence sector to be earmarked for local industry which is up from the 58 per cent from last fiscal. Defence R&D to be opened up for startups, industry and academia with 25 per cent of defence R&D budget. Private players to be encouraged to take up the design and development of military platforms in collaboration with DRDO. Promote Aatmanirbharta and reduce dependence on imports of defence equipment.

India Union Budget 2022: Defence R&D to be opened up for startups

While presenting the Budget 2022-2023, Indian Finance Minister Nirmala Sitharaman announced that Animation, Visual Effects, Gaming and Comic (AVGC) offers immense potential to employ youth. "An AVGC promotion task force, with all stakeholders, will be setup to recommend ways to realise this and build domestic capacity for serving out markets and the global demand," Sitharam said.&nbsp;

Indian Finance Minister Nirmala Sitharaman on Tuesday, February 1, unveiled the budget for fiscal 2022-23.&nbsp;

This year's budget aims to boost growth amid continued disruption caused by the ongoing pandemic.&nbsp;

<a href="https://www.wionews.com/business-economy/india-union-budget-2022-sitharaman-unveils-india-100-key-points-449424">Also read |&nbsp;India Union Budget 2022: Sitharaman unveils India @ 100 - Key points</a>

The nation is battling the Omicron wave but the speed of the vaccination campaign has helped. "I am confident that 'Sabka Prayaas' we'll continue with strong growth," said Sitharaman.

In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, which happens to be the highest among all large economies.

This year, the budget will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public.&nbsp;

While presenting the Budget 2022-2023, Indian Finance Minister Nirmala Sitharaman announced that Animation, Visual Effects, Gaming and Comic (AVGC) offers immense potential to employ youth.

While presenting the Budget 2022-2023, Indian Finance Minister Nirmala Sitharaman announced that Animation, Visual Effects, Gaming and Comic (AVGC) offers immense potential to employ youth. "An AVGC promotion task force, with all stakeholders, will be setup to recommend ways to realise this and build domestic capacity for serving out markets and the global demand," Sitharam said. Indian Finance Minister Nirmala Sitharaman on Tuesday, February 1, unveiled the budget for fiscal 2022-23. This year's budget aims to boost growth amid continued disruption caused by the ongoing pandemic. Also read | India Union Budget 2022: Sitharaman unveils India @ 100 - Key points The nation is battling the Omicron wave but the speed of the vaccination campaign has helped. "I am confident that 'Sabka Prayaas' we'll continue with strong growth," said Sitharaman. In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, which happens to be the highest among all large economies. This year, the budget will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public.

Indian Union Budget 2022: To promote animation, gaming and comic, an AVGC promotion task force will be setup

India's finance minister Nirmala Sitharaman on Tuesday presented the Budget 2022 in Parliament. In her opening speech, the finance minister unveiled India at 100 plan while elaborating on PM Gati Shakti programme to accelerate growth.

<a href="https://www.wionews.com/business-economy/india-union-budget-2022-sitharaman-unveils-india-100-key-points-449424">Also Read:&nbsp;India Union Budget 2022: Sitharaman unveils India @ 100 - Key points</a>

Key highlights of PM Gati Shakti plan:

<ul>
	<li>The plan involves seven engines namely: Railways, roads, airports, ports, mass transport, waterways and logistics infrastructure.</li>
</ul>

<ul>
	<li>100 PM Gati Shakti cargo terminals to be developed during the next 3 years.</li>
</ul>

<ul>
	<li>Implementation of innovative ways for building metro systems.</li>
</ul>

<ul>
	<li>400 new generation Vande Bharat trains with better efficiency to be brought in the next 3 years.</li>
</ul>

<ul>
	<li>The plan involves inclusive development, productivity enhancement and investment, &nbsp;sunrise opportunities, energy transition and climate action and&nbsp;financing of investments.</li>
</ul>

<ul>
	<li>Master Plan for expressways to be formulated in 2022-23.</li>
</ul>

<ul>
	<li>The expressway plan will facilitate faster movement of people and goods, the finance minister said.</li>
</ul>

<ul>
	<li>National highway network to be expanded by 25,000 km in 2022-23. &nbsp;</li>
</ul>

<ul>
	<li>Rs 20,000 crores to be mobilised to complement public resources.</li>
</ul>

India's finance minister Nirmala Sitharaman on Tuesday presented the Budget 2022 in Parliament. In her opening speech, the finance minister unveiled India at 100 plan while elaborating on PM Gati Shakti programme to accelerate growth.

India's finance minister Nirmala Sitharaman on Tuesday presented the Budget 2022 in Parliament. In her opening speech, the finance minister unveiled India at 100 plan while elaborating on PM Gati Shakti programme to accelerate growth. Also Read: India Union Budget 2022: Sitharaman unveils India @ 100 - Key points Key highlights of PM Gati Shakti plan: The plan involves seven engines namely: Railways, roads, airports, ports, mass transport, waterways and logistics infrastructure. 100 PM Gati Shakti cargo terminals to be developed during the next 3 years. Implementation of innovative ways for building metro systems. 400 new generation Vande Bharat trains with better efficiency to be brought in the next 3 years. The plan involves inclusive development, productivity enhancement and investment, sunrise opportunities, energy transition and climate action and financing of investments. Master Plan for expressways to be formulated in 2022-23. The expressway plan will facilitate faster movement of people and goods, the finance minister said. National highway network to be expanded by 25,000 km in 2022-23. Rs 20,000 crores to be mobilised to complement public resources.

India Union Budget 2022: PM Gati Shakti plan highlights

Indian Finance Minister Nirmala Sitharaman presented the annual Union Budget for the year 2022-2023 in the Parliament in the nation's capital New Delhi on Tuesday (February 1).&nbsp;

In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19).&nbsp;

The finance minister further said that the nation is in the midst of the Omicron wave but the speed of the vaccination campaign has helped greatly. She said, "I am confident that 'Sabka Prayaas' we'll continue with strong growth."

<a href="https://www.wionews.com/business-economy/live-india-union-budget-2022-finance-minister-nirmala-sitharaman-arrives-at-rashtrapati-bhavan-449352">Click here to get live updates</a>&nbsp;

The finance minister further said that this year's Union Budget seeks to lay the foundation and give a blueprint of the economy over 'Amrit Kal' of next 25 years - from India at 75 to India at 100.&nbsp;

The budget was paperless - just like last year but it will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public.&nbsp;

The mobile app allows complete access to 14 Union Budget documents, including the Budget Speech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill etc. as prescribed by the Constitution.&nbsp;

Indian Finance Minister Nirmala Sitharaman presented the annual Union Budget for the year 2022-2023 in the Parliament in the nation's capital New Delhi on Tuesday (February 1).

Indian Finance Minister Nirmala Sitharaman presented the annual Union Budget for the year 2022-2023 in the Parliament in the nation's capital New Delhi on Tuesday (February 1). In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19). The finance minister further said that the nation is in the midst of the Omicron wave but the speed of the vaccination campaign has helped greatly. She said, "I am confident that 'Sabka Prayaas' we'll continue with strong growth." Click here to get live updates The finance minister further said that this year's Union Budget seeks to lay the foundation and give a blueprint of the economy over 'Amrit Kal' of next 25 years - from India at 75 to India at 100. The budget was paperless - just like last year but it will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public. The mobile app allows complete access to 14 Union Budget documents, including the Budget Speech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill etc. as prescribed by the Constitution.

Union Budget 2022: India's Finance Minister Sitharaman says growth expected at 9.2%

India's finance minister Nirmala Sitharaman presented the India Budget 2022 in Parliament today. The finance minister presented a paperless Budget for the second time this year amid the pandemic.

India's growth is expected to be 9.2 per cent which is the highest in large economies, India's finance minister said in her opening statement.&nbsp;

<a href="https://www.wionews.com/business-economy/live-india-union-budget-2022-nirmala-sitharamans-budget-speech-underway-449352">Also Read:&nbsp;Live | India Union Budget 2022: Nirmala Sitharaman's Budget speech underway</a>

"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'll continue with strong growth," India's finance minister said.

The finance explained India at 100 in the Budget. Here are the key points:

<ul>
	<li>Complementing macro-growth with micro-all-inclusive welfare, fintech, digital economy and tech-enabled development which would include climate action and energy transition.</li>
</ul>

<ul>
	<li>The finance minister said the Budget seeks to lay foundation and provide blueprint of economy over "Amrit Kal" for the next 25 years from India at 75 to India at 100.</li>
</ul>

India's finance minister Nirmala Sitharaman presented the India Budget 2022 in Parliament today. The finance minister presented a paperless Budget for the second time this year amid the pandemic.

India's finance minister Nirmala Sitharaman presented the India Budget 2022 in Parliament today. The finance minister presented a paperless Budget for the second time this year amid the pandemic. India's growth is expected to be 9.2 per cent which is the highest in large economies, India's finance minister said in her opening statement. Also Read: Live | India Union Budget 2022: Nirmala Sitharaman's Budget speech underway "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'll continue with strong growth," India's finance minister said. The finance explained India at 100 in the Budget. Here are the key points: Complementing macro-growth with micro-all-inclusive welfare, fintech, digital economy and tech-enabled development which would include climate action and energy transition. The finance minister said the Budget seeks to lay foundation and provide blueprint of economy over "Amrit Kal" for the next 25 years from India at 75 to India at 100.

India Union Budget 2022: Sitharaman unveils India @ 100 - Key points

India's Union Minister of State for Finance Pankaj Chaudhary said that this year's budget will have something for everyone as the country's Finance Minister Nirmala Sitharaman is set to present the union budget for 2022-23 on Tuesday (February 1).&nbsp;

This year's budget is extremely crucial as India's economy is showing signs of recovery from the problems created by the ongoing coronavirus (COVID-19) pandemic.&nbsp;

Ahead of the budget presentation, Chaudhary was quoted by ANI news agency as saying, "The budget will ensure there is something for everyone. Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sector's needs.&nbsp;

"It will benefit everyone. All sectors, including farmers, should have expectations from today's budget. I request all to have a bit of patience. People will be very happy with this budget," he added.&nbsp;

<a href="https://www.wionews.com/business-economy/live-india-union-budget-2022-finance-minister-nirmala-sitharaman-arrives-at-rashtrapati-bhavan-449352">Click here to get live updates</a>&nbsp;

The Indian government is expected to announce measures to boost GDP growth and strengthen the infrastructure of the country. Some experts said that the budget might give special focus to the education and health sectors.&nbsp;

In this year's budget, the customary 'halwa ceremony' to mark the final stage of the budget-making exercise was not held due to Covid protocols.&nbsp;

Instead, the government distributed packed sweets among the core staff members involved in the budget-making.&nbsp;

The budget will also be paperless - just like last year but it will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/india-budget-2022-govts-supply-side-reforms-prepare-economy-for-long-term-expansion-says-fm-sitharaman-449345">India Budget 2022: Govt's supply-side reforms prepare economy for long-term expansion, says FM Sitharaman</a>

The mobile app allows complete access to 14 Union Budget documents, including the Budget Speech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill etc. as prescribed by the Constitution.&nbsp;

The budget session of parliament is being held in two parts. The first part will continue till February 11 and the second part from March 14 to April 8.&nbsp;

India's Union Minister of State for Finance Pankaj Chaudhary said that this year's budget will have something for everyone as the country's Finance Minister Nirmala Sitharaman is set to present the union budget for 2022-23 on Tuesday (February 1).

India's Union Minister of State for Finance Pankaj Chaudhary said that this year's budget will have something for everyone as the country's Finance Minister Nirmala Sitharaman is set to present the union budget for 2022-23 on Tuesday (February 1). This year's budget is extremely crucial as India's economy is showing signs of recovery from the problems created by the ongoing coronavirus (COVID-19) pandemic. Ahead of the budget presentation, Chaudhary was quoted by ANI news agency as saying, "The budget will ensure there is something for everyone. Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sector's needs. "It will benefit everyone. All sectors, including farmers, should have expectations from today's budget. I request all to have a bit of patience. People will be very happy with this budget," he added. Click here to get live updates The Indian government is expected to announce measures to boost GDP growth and strengthen the infrastructure of the country. Some experts said that the budget might give special focus to the education and health sectors. In this year's budget, the customary 'halwa ceremony' to mark the final stage of the budget-making exercise was not held due to Covid protocols. Instead, the government distributed packed sweets among the core staff members involved in the budget-making. The budget will also be paperless - just like last year but it will be available on an application named "Union Budget Mobile App". The app was launched last year for easy access to Budget documents by Members of Parliament (MPs) and the general public. ALSO READ | India Budget 2022: Govt's supply-side reforms prepare economy for long-term expansion, says FM Sitharaman The mobile app allows complete access to 14 Union Budget documents, including the Budget Speech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill etc. as prescribed by the Constitution. The budget session of parliament is being held in two parts. The first part will continue till February 11 and the second part from March 14 to April 8.

Budget 2022-2023: Indian minister says 'inclusive budget' will ensure there is something for everyone

Indian markets opened on a high on Tuesday ahead of the Budget presentation in Parliament.

The Sensex surged over 600 points in early trade to reach 58,617.56 as bank stocks ICICI, HDFC, Kotak rose including Sun Pharma, Infosys and Bajaj Finserv.

The &nbsp;Nifty shot up 159.25 points to reach 17,499.10. 28 as 28 scrips were trading in the green out of 30 in the Sensex in early trade. However, ITC and PowerGrid were trading in red.

<a href="https://www.wionews.com/business-economy/live-india-union-budget-2022-sitharaman-reaches-parliament-budget-speech-at-11-am-449352">Also Read: Live updates India Union Budget 2022</a>

Shipping Corp of India stocks jumped over 10 per cent after strong quarterly profit, however, Tata Motors fell 3.5 per cent after the automaker reported a quarterly loss.

The BSE Sensex is currently trading at 58,861.60 up 847 points. The Sensex had closed at 58,014.17 on Monday.

<a href="https://www.wionews.com/business-economy/india-budget-2022-india-can-become-worlds-fastest-growing-economy-economic-survey-449214">Also Read |&nbsp;India Budget 2022: India can become world’s fastest growing economy: Economic Survey</a>

India's finance minister Nirmala Sitharaman is due to present the Budget in Parliament at 11am (IST) in Parliament today. India's finance minister had presented the Economic Survey ahead of the Budget on Monday projecting 8 per cent to 8.5 per cent growth in 2022-23.

Experts say the finance minister is likely to announce higher rural spending.&nbsp;

(With inputs from Agencies) 
&nbsp;

Indian markets opened on a high on Tuesday ahead of the Budget presentation in Parliament. The Sensex surged over 600 points in early trade to reach 58,617.56 as bank stocks ICICI, HDFC, Kotak rose including Sun Pharma, Infosys and Bajaj Finserv.

Indian markets opened on a high on Tuesday ahead of the Budget presentation in Parliament. The Sensex surged over 600 points in early trade to reach 58,617.56 as bank stocks ICICI, HDFC, Kotak rose including Sun Pharma, Infosys and Bajaj Finserv. The Nifty shot up 159.25 points to reach 17,499.10. 28 as 28 scrips were trading in the green out of 30 in the Sensex in early trade. However, ITC and PowerGrid were trading in red. Also Read: Live updates India Union Budget 2022 Shipping Corp of India stocks jumped over 10 per cent after strong quarterly profit, however, Tata Motors fell 3.5 per cent after the automaker reported a quarterly loss. The BSE Sensex is currently trading at 58,861.60 up 847 points. The Sensex had closed at 58,014.17 on Monday. Also Read | India Budget 2022: India can become world’s fastest growing economy: Economic Survey India's finance minister Nirmala Sitharaman is due to present the Budget in Parliament at 11am (IST) in Parliament today. India's finance minister had presented the Economic Survey ahead of the Budget on Monday projecting 8 per cent to 8.5 per cent growth in 2022-23. Experts say the finance minister is likely to announce higher rural spending. (With inputs from Agencies)

Ahead of India Union Budget 2022, Sensex and Nifty surge in early trade

How did India handle the Covid-19 crisis? What does the health sector expect from India's Budget 2022? Will health insurance services be expanded? Watch WION's special show ahead of India's Union Budget, with Gautam Chikermane.

India's Budget 2022 with Gautam Chikermane: India's performance in handling Covid crisis?

Finance Minister Nirmala Sitharaman called on Ram Nath Kovind before presenting the Union Budget for 2022-23 in Parliament on Tuesday. She met the President as part of established tradition.

The Finance Minister was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and senior officials from the Ministry.

Taking to Twitter, Rashtrapati Bhavan said, "Nirmala Sitharaman, Minister of Finance along with Ministers of State for Finance, Dr Bhagwat Kishanrao Karad, Pankaj Chaudhary, and senior officials of the Ministry of Finance, called on President Ram Nath Kovind before presenting the Union Budget 2022-23."

The Union Budget 2022 will be presented in a short while from now. The Minister carried the digitalised budget in a tablet kept inside a red coloured cover with a golden coloured national emblem embossed on it instead of the traditional briefcase or `bahi khata` for the second consecutive year.

Earlier in the day, MoS Chaudhary said that the budget will be inclusive, benefiting everyone. "Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sectors` needs. It will be benefiting everyone...All sectors (including farmers) should have expectations from today`s budget," he said.

<a href="https://www.wionews.com/business-economy/live-india-union-budget-2022-sitharaman-reaches-parliament-budget-speech-at-11-am-449352">Also read |&nbsp;Live | India Union Budget 2022: Sitharaman reaches Parliament; Budget speech at 11 am</a>

One of the most keenly awaited announcements in the union budget, like every year, would be related to personal taxation.

In every budget income tax rates and slabs are reviewed. However, the income tax slabs have not been changed since 2014.

Sitharaman will be making her fourth budget speech on Tuesday. On Monday, she tabled this year`s Economic Survey, centred around the theme of "Agile approach", which forecasted India`s economy to grow by 9.2 per cent during financial year 2021-22 and by 8-8.5 per cent in fiscal 2023 beginning 1 April.

The Macroeconomic stability indicators of the Economic Survey suggested that the Indian economy is well placed to take on the challenges of 2022-23.

"The combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide an adequate buffer against possible global liquidity tapering in 2022-23," it stated.

Notably, India`s foreign reserves crossed USD 600 billion in the first half of 2021-22 and touched USD 633.6 billion as of December 31, 2021.

As per the Survey, India`s merchandise exports and imports rebounded strongly and surpassed pre-COVID levels during the current financial year, indicating a significant pickup in net services despite weak tourism revenues.

The Budget Session of the Parliament commenced on January 31 with President Ram Nath Kovind`s address.

The first part of the Union Budget Session of Parliament will be held from January 31 to February 11 and the second part of the budget session will take place from March 14 to April 8.&nbsp;

Finance Minister Nirmala Sitharaman called on Ram Nath Kovind before presenting the Union Budget for 2022-23 in Parliament on Tuesday. She met the President as part of established tradition.

Finance Minister Nirmala Sitharaman called on Ram Nath Kovind before presenting the Union Budget for 2022-23 in Parliament on Tuesday. She met the President as part of established tradition. The Finance Minister was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and senior officials from the Ministry. Taking to Twitter, Rashtrapati Bhavan said, "Nirmala Sitharaman, Minister of Finance along with Ministers of State for Finance, Dr Bhagwat Kishanrao Karad, Pankaj Chaudhary, and senior officials of the Ministry of Finance, called on President Ram Nath Kovind before presenting the Union Budget 2022-23." The Union Budget 2022 will be presented in a short while from now. The Minister carried the digitalised budget in a tablet kept inside a red coloured cover with a golden coloured national emblem embossed on it instead of the traditional briefcase or `bahi khata` for the second consecutive year. Earlier in the day, MoS Chaudhary said that the budget will be inclusive, benefiting everyone. "Finance Minister Nirmala Sitharaman will present an inclusive budget, in line with each and every sectors` needs. It will be benefiting everyone...All sectors (including farmers) should have expectations from today`s budget," he said. Also read | Live | India Union Budget 2022: Sitharaman reaches Parliament; Budget speech at 11 am One of the most keenly awaited announcements in the union budget, like every year, would be related to personal taxation. In every budget income tax rates and slabs are reviewed. However, the income tax slabs have not been changed since 2014. Sitharaman will be making her fourth budget speech on Tuesday. On Monday, she tabled this year`s Economic Survey, centred around the theme of "Agile approach", which forecasted India`s economy to grow by 9.2 per cent during financial year 2021-22 and by 8-8.5 per cent in fiscal 2023 beginning 1 April. The Macroeconomic stability indicators of the Economic Survey suggested that the Indian economy is well placed to take on the challenges of 2022-23. "The combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide an adequate buffer against possible global liquidity tapering in 2022-23," it stated. Notably, India`s foreign reserves crossed USD 600 billion in the first half of 2021-22 and touched USD 633.6 billion as of December 31, 2021. As per the Survey, India`s merchandise exports and imports rebounded strongly and surpassed pre-COVID levels during the current financial year, indicating a significant pickup in net services despite weak tourism revenues. The Budget Session of the Parliament commenced on January 31 with President Ram Nath Kovind`s address. The first part of the Union Budget Session of Parliament will be held from January 31 to February 11 and the second part of the budget session will take place from March 14 to April 8.

India Budget 2022: FM Nirmala Sitharaman calls on President Kovind

What are the budget expectations for the agriculture sector? How can the efficiency of Indian agriculture be improved? How can tech be used to help farmers? Watch WION's special show ahead of India's Union Budget, with Gautam Chikermane.

India's Budget 2022 with Gautam Chikermane: Expectations for the agriculture sector

Nirmala Sitharaman, India's first full-time female finance minister, will submit the country's annual financial statement for 2022 on February 1.

According to Article 112 of the Indian Constitution, the Union Budget is a declaration of the government's expected receipts and expenditures for that particular year.

While the Narendra Modi-led BJP administration will be presenting its 10th budget since coming to power in 2014, Sitharaman will be presenting her 4th since taking office in 2019.&nbsp; 
 
Timings

Union Budget 2022 is likely to be presented at 11 am on 1st February (Tuesday), despite staggered timing for Lok Sabha and&nbsp;Rajya Sabha.

Speech Duration

The budget presentation could last anywhere from 90 to 120 minutes.

The FM's speech on the 2020 Budget was the longest in India's independent history, clocking in at almost two hours and forty minutes.

Despite presenting for 160 minutes, she was unable to complete the last two pages and had to break her speech short.&nbsp;

This year's Budget is likely to focus on accelerating India's recovery from the pandemic shock, as well as strengthening the country's healthcare system to prevent future outbreaks.

Budget 2022: Where to Watch

The Union Budget 2022 will be broadcast live on Lok Sabha TV (which will be picked up by other news outlets) as well as on social media platforms like YouTube and Twitter.

On February 1, at 11 am, the FM will present the Budget to the Lok Sabha. Previously, the budget was delivered on the final working day of February.&nbsp;

Economic Survey:

The Economic Survey will most likely be presented in Parliament on January 31 before the Budget is tabled.

The Economic Survey, the finance ministry's flagship yearly report, examines the country's economic development over the previous fiscal year.

It includes statistics from various industries, including industrial, agricultural, and manufacturing.

It's worth noting that India's first Economic Survey was published in the years 1950-51.

Until 1964, the Budget and Economic Survey were presented together.

Both were delinked after 1964.

Budget Session in Parliament:

The budget session of Parliament will begin on the date that the Economic Survey of India is presented. It will commence on January 31 with President Ram Nath Kovind's address to both Houses.&nbsp;

The first half of the session will take place from January 31 to February 11.

On March 14th, the panel will reconvene to sit until April 8th.

What can we expect from Budget 2022?

While India grapples with the third wave of Covid-19, economists, salaried class members, and business experts have great hopes for the annual report.Estimates of GDP will be a significant number to watch.

India's GDP shrank by 7.3 percent in 2020-21 as a result of lockdowns and more Covid-related restrictions.&nbsp;

(With inputs from agencies)

Nirmala Sitharaman, India's first full-time female finance minister, will submit the country's annual financial statement for 2022 on February 1. According to Article 112 of the Indian Constitution, the Union Budget is a declaration of the government's expected receipts and expenditures for that particular year.

Nirmala Sitharaman, India's first full-time female finance minister, will submit the country's annual financial statement for 2022 on February 1. According to Article 112 of the Indian Constitution, the Union Budget is a declaration of the government's expected receipts and expenditures for that particular year. While the Narendra Modi-led BJP administration will be presenting its 10th budget since coming to power in 2014, Sitharaman will be presenting her 4th since taking office in 2019. Timings Union Budget 2022 is likely to be presented at 11 am on 1st February (Tuesday), despite staggered timing for Lok Sabha and Rajya Sabha. Speech Duration The budget presentation could last anywhere from 90 to 120 minutes. The FM's speech on the 2020 Budget was the longest in India's independent history, clocking in at almost two hours and forty minutes. Despite presenting for 160 minutes, she was unable to complete the last two pages and had to break her speech short. This year's Budget is likely to focus on accelerating India's recovery from the pandemic shock, as well as strengthening the country's healthcare system to prevent future outbreaks. Budget 2022: Where to Watch The Union Budget 2022 will be broadcast live on Lok Sabha TV (which will be picked up by other news outlets) as well as on social media platforms like YouTube and Twitter. On February 1, at 11 am, the FM will present the Budget to the Lok Sabha. Previously, the budget was delivered on the final working day of February. Economic Survey: The Economic Survey will most likely be presented in Parliament on January 31 before the Budget is tabled. The Economic Survey, the finance ministry's flagship yearly report, examines the country's economic development over the previous fiscal year. It includes statistics from various industries, including industrial, agricultural, and manufacturing. It's worth noting that India's first Economic Survey was published in the years 1950-51. Until 1964, the Budget and Economic Survey were presented together. Both were delinked after 1964. Budget Session in Parliament: The budget session of Parliament will begin on the date that the Economic Survey of India is presented. It will commence on January 31 with President Ram Nath Kovind's address to both Houses. The first half of the session will take place from January 31 to February 11. On March 14th, the panel will reconvene to sit until April 8th. What can we expect from Budget 2022? While India grapples with the third wave of Covid-19, economists, salaried class members, and business experts have great hopes for the annual report.Estimates of GDP will be a significant number to watch. India's GDP shrank by 7.3 percent in 2020-21 as a result of lockdowns and more Covid-related restrictions. (With inputs from agencies)

India's Union Budget 2022: Date, time, where to watch and key expectations

The economic impact of the "second wave" of COVID-19 was much smaller than that during the full lockdown phase in 2020-21, though the health impact was more severe, according to the Economic Survey 2021-22 tabled in the parliament on Monday.

While presenting the annual survey report ahead of the Union Budget, Finance Minister Nirmala Sitharaman said that the Centre`s unique response to the second wave of COVID-19 comprised of safety-nets to cushion its impact on vulnerable sections of society and the business sector.

She added that the government significantly increased the capital expenditure to spur growth and introduced supply-side reforms for a sustained long-term expansion of the economy.

"The government`s flexible and multi-layered response is partly based on an "Agile" framework that uses feedback-loops, and the use of eighty High-Frequency Indicators (HFIs) in an environment of extreme uncertainty," she stated.

As per the report, the Indian economy is estimated to grow by 9.2 per cent in real terms in 2021-22 (as per first advanced estimates) subsequent to a contraction of 7.3 per cent in 2020-21 and the GDP is projected to grow by 8- 8.5 per cent in real terms in 2022-23.

<a href="https://www.wionews.com/india-news/india-union-budget-2022-what-are-expenditure-and-revenue-budgets-449333">Also read |&nbsp;India Union Budget 2022: What are expenditure and revenue budgets?</a>

The year ahead is poised for a pickup in private sector investment with the financial system in a good position to provide support for the economy`s revival, said the survey report.

The projection is comparable with World Bank and Asian Development Bank`s latest forecasts of real GDP growth of 8.7 per cent and 7.5 per cent respectively for 2022-23, it added.

As per IMF`s latest World Economic Outlook projections, India`s real GDP is projected to grow at 9 per cent in 2021-22 and 2022-23 and at 7.1 per cent in 2023-2024, which would make India the fastest-growing major economy in the world for all three years.

Macroeconomic stability indicators suggest that the Indian Economy is well placed to take on the challenges of 2022-23.

A combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide an adequate buffer against possible global liquidity tapering in 2022-23.&nbsp;

The economic impact of the "second wave" of COVID-19 was much smaller than that during the full lockdown phase in 2020-21, though the health impact was more severe, according to the Economic Survey 2021-22 tabled in the parliament on Monday.

The economic impact of the "second wave" of COVID-19 was much smaller than that during the full lockdown phase in 2020-21, though the health impact was more severe, according to the Economic Survey 2021-22 tabled in the parliament on Monday. While presenting the annual survey report ahead of the Union Budget, Finance Minister Nirmala Sitharaman said that the Centre`s unique response to the second wave of COVID-19 comprised of safety-nets to cushion its impact on vulnerable sections of society and the business sector. She added that the government significantly increased the capital expenditure to spur growth and introduced supply-side reforms for a sustained long-term expansion of the economy. "The government`s flexible and multi-layered response is partly based on an "Agile" framework that uses feedback-loops, and the use of eighty High-Frequency Indicators (HFIs) in an environment of extreme uncertainty," she stated. As per the report, the Indian economy is estimated to grow by 9.2 per cent in real terms in 2021-22 (as per first advanced estimates) subsequent to a contraction of 7.3 per cent in 2020-21 and the GDP is projected to grow by 8- 8.5 per cent in real terms in 2022-23. Also read | India Union Budget 2022: What are expenditure and revenue budgets? The year ahead is poised for a pickup in private sector investment with the financial system in a good position to provide support for the economy`s revival, said the survey report. The projection is comparable with World Bank and Asian Development Bank`s latest forecasts of real GDP growth of 8.7 per cent and 7.5 per cent respectively for 2022-23, it added. As per IMF`s latest World Economic Outlook projections, India`s real GDP is projected to grow at 9 per cent in 2021-22 and 2022-23 and at 7.1 per cent in 2023-2024, which would make India the fastest-growing major economy in the world for all three years. Macroeconomic stability indicators suggest that the Indian Economy is well placed to take on the challenges of 2022-23. A combination of high foreign exchange reserves, sustained foreign direct investment, and rising export earnings will provide an adequate buffer against possible global liquidity tapering in 2022-23.

India Budget 2022: Govt's supply-side reforms prepare economy for long-term expansion, says FM Sitharaman

Several opposition parties in the Business Advisory Committee meeting that took place early on Monday afternoon chaired by the Lok Sabha Speaker Om Birla, objected to the government presenting paperless Union Budget and Economic Survey.

Sources said that these Lok Sabha leaders conveyed to the government via the speaker that it would be impossible to download every document from the Internet, read it and process it in time for reactions. As per the sources, privy to the details of the meeting Adhir Ranjan Chowdhury floor leader of the Lok Sabha for the Congress, Sudip Bandyopadhyay from the TMC, Vinayak Raut from Shiv Sena, and Supriya Sule of NCP were some of the leaders who spoke about the subject.

Vinayak Raut told ANI, "Our concern is very genuine and we have requested the Speaker to intervene so we will hope that at least the part one speech of the finance minister is given to us in a physical copy."

"We have raised a very important issue because it is not practically possible to download everything from the website et cetera. Speaker has stepped in so we will have to see what the government does," Sudip Bandyopadhyay told ANI.

Sources further stated that during the meeting, the Lok Sabha Speaker asked the government to see what can be done to address the concern of the opposition MPs.

It is being said that in the meeting, Parliamentary Affairs Minister Pralhad Joshi told the opposition that he would take note of their concerns, although the people`s budget and the survey was a huge boost to promote contactless documentation.

The Parliamentary Affairs Minister is also said to have told the members that he will be speaking to the Finance Minister Nirmala Sitharaman about their concerns.

<a href="https://www.wionews.com/business-economy/india-budget-2022-india-can-become-worlds-fastest-growing-economy-economic-survey-449214">Also read |&nbsp;India Budget 2022: India can become world’s fastest growing economy: Economic Survey</a>

The Finance Ministry, on January 27, through a statement had said," In a historic move, the Union Budget of 2021-22 was delivered in paperless form for the first time."

"A "Union Budget Mobile App" was also launched for hassle-free access of Budgetdocuments by Members of Parliament (MPs) and the general public.

The Union Budget 2022-23 would also be available on the Mobile App after the process of Budget presentation has been completed on February 1, 2022, in the Parliament," the statement read.

According to the statement, the mobile application allows complete access to 14 Union Budget documents, including the BudgetSpeech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill, etc. as prescribed by the Constitution.

The mobile app is bilingual (English and Hindi) and is available on both Android and iOS platforms.

Several opposition parties in the Business Advisory Committee meeting that took place early on Monday afternoon chaired by the Lok Sabha Speaker Om Birla, objected to the government presenting paperless Union Budget and Economic Survey.

Several opposition parties in the Business Advisory Committee meeting that took place early on Monday afternoon chaired by the Lok Sabha Speaker Om Birla, objected to the government presenting paperless Union Budget and Economic Survey. Sources said that these Lok Sabha leaders conveyed to the government via the speaker that it would be impossible to download every document from the Internet, read it and process it in time for reactions. As per the sources, privy to the details of the meeting Adhir Ranjan Chowdhury floor leader of the Lok Sabha for the Congress, Sudip Bandyopadhyay from the TMC, Vinayak Raut from Shiv Sena, and Supriya Sule of NCP were some of the leaders who spoke about the subject. Vinayak Raut told ANI, "Our concern is very genuine and we have requested the Speaker to intervene so we will hope that at least the part one speech of the finance minister is given to us in a physical copy." "We have raised a very important issue because it is not practically possible to download everything from the website et cetera. Speaker has stepped in so we will have to see what the government does," Sudip Bandyopadhyay told ANI. Sources further stated that during the meeting, the Lok Sabha Speaker asked the government to see what can be done to address the concern of the opposition MPs. It is being said that in the meeting, Parliamentary Affairs Minister Pralhad Joshi told the opposition that he would take note of their concerns, although the people`s budget and the survey was a huge boost to promote contactless documentation. The Parliamentary Affairs Minister is also said to have told the members that he will be speaking to the Finance Minister Nirmala Sitharaman about their concerns. Also read | India Budget 2022: India can become world’s fastest growing economy: Economic Survey The Finance Ministry, on January 27, through a statement had said," In a historic move, the Union Budget of 2021-22 was delivered in paperless form for the first time." "A "Union Budget Mobile App" was also launched for hassle-free access of Budgetdocuments by Members of Parliament (MPs) and the general public. The Union Budget 2022-23 would also be available on the Mobile App after the process of Budget presentation has been completed on February 1, 2022, in the Parliament," the statement read. According to the statement, the mobile application allows complete access to 14 Union Budget documents, including the BudgetSpeech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill, etc. as prescribed by the Constitution. The mobile app is bilingual (English and Hindi) and is available on both Android and iOS platforms.

Indian Budget 2022: Opposition raises objection to govt's presentation of paperless Budget

A report released by Rio Tinto, a major mining company, on Tuesday (February 1) showed a culture of bullying, harassment and racism within the company. The report stated that there were complaints of actual or attempted rape or sexual assault by 21 women.

The external report commissioned by Rio was based on an online survey completed by 10,300 people, nearly a quarter of its 45,000 strong workforce at 60 operations in 35 countries, as well as group and individual listening sessions.

The ‘Report into Workplace Culture at Rio Tinto’ was written by Elizabeth Broderick, who served as Australia’s Sex Discrimination Commissioner from 2007-2015.

As per the report, nearly 30 per cent of women and about 7 per cent of men had experienced sexual harassment at work

Racism was a "significant challenge" for employees at many locations. People working in a country different to their birth experienced high rates of racism while nearly 40% of men who identify as Aboriginal or Torres Strait Islander in Australia had experienced racism.

The 85-page document was available on the company's website on Tuesday (February 1).

Rio said reforms will focus on a commitment from the company's leadership to create a safe and inclusive working environment, including by increasing diversity within the company. It would also ensure the company's remote mine site facilities are safe, and make it easier for staff to call out unacceptable behaviours.

The Rio report comes ahead of the release of another report by the West Australia state government later this year on sexual harassment at mining camps in the state, which provides more than half of the world's supply of iron ore.

(With inputs from agencies)

A report released by Rio Tinto, a major mining company, on Tuesday (February 1) showed a culture of bullying, harassment and racism within the company. The report stated that there were complaints of actual or attempted rape or sexual assault by 21 women.

A report released by Rio Tinto, a major mining company, on Tuesday (February 1) showed a culture of bullying, harassment and racism within the company. The report stated that there were complaints of actual or attempted rape or sexual assault by 21 women. The external report commissioned by Rio was based on an online survey completed by 10,300 people, nearly a quarter of its 45,000 strong workforce at 60 operations in 35 countries, as well as group and individual listening sessions. The ‘Report into Workplace Culture at Rio Tinto’ was written by Elizabeth Broderick, who served as Australia’s Sex Discrimination Commissioner from 2007-2015. As per the report, nearly 30 per cent of women and about 7 per cent of men had experienced sexual harassment at work Racism was a "significant challenge" for employees at many locations. People working in a country different to their birth experienced high rates of racism while nearly 40% of men who identify as Aboriginal or Torres Strait Islander in Australia had experienced racism. The 85-page document was available on the company's website on Tuesday (February 1). Rio said reforms will focus on a commitment from the company's leadership to create a safe and inclusive working environment, including by increasing diversity within the company. It would also ensure the company's remote mine site facilities are safe, and make it easier for staff to call out unacceptable behaviours. The Rio report comes ahead of the release of another report by the West Australia state government later this year on sexual harassment at mining camps in the state, which provides more than half of the world's supply of iron ore. (With inputs from agencies)

Rio Tinto report mentions culture of sexual harassment, racism

Despite the COVID-19&nbsp;pandemic, India's economic growth in the upcoming financial year, i.e., 2022-23, can be surprising on the higher side, ASSOCHAM Secretary-General said on Monday.&nbsp;

"While the 8-8.5 per cent GDP projections for FY23 are on the back of a high base of 9.2 per cent in the current financial year, ASSOCHAM is of the view that India's economic growth can surprise us on the higher side.&nbsp;

"Even as the pandemic is still raging in most parts of the world, its latest variant is less damaging. Besides, with 75 per cent of eligible Indians fully vaccinated and the booster dose being rolled out, India would be far better prepared to take on the challenges," ASSOCHAM Secretary General Deepak Sood said.&nbsp;

ASSOCHAM said it shares the prognosis of the Economic Survey that the Indian economy is well placed to take on the challenges of 2022-23, riding on the back of continuous reforms in supply-side and safety nets to the vulnerable sections of the society.&nbsp;

Sood further said that the advance estimates suggest manufacturing to be growing by 12.5 per cent in the current fiscal while services would expand by 8.5 per cent.&nbsp;

"Traditionally, services grow at a faster face. Clearly, the Covid impact on contact intensive industries is reflecting even as manufacturing has been aided by supply-side reforms. Once the impact of PLI scheme kicks in, we expect the manufacturing to be leading the growth for the foreseeable future," Sood said, adding that robust performance in exports has also helped the manufacturing.

He further said that the Economic Survey is right in its assessment about the investment scenario, saying: "The private investment recovery is still at a nascent stage, though there are increased activities in the brownfield projects. Heavy lifting would still be needed by the government with capital expenditure, and we expect that in the Budget."

The Survey has pointed out that the government has the fiscal capacity to maintain the support, and ramp up capital expenditure when required, ASSOCHAM said in a statement.

"Schemes like credit guarantee with 100 per cent guarantee for additional funding of Rs 4.5 lakh crore to MSMEs have provided critical relief to the sectors severely hit by the pandemic. More such measures are expected in the Budget," it said.

"The Survey has re-emphasised the government's asset monetisation and disinvestment agenda, which spells out bare minimum presence of government ownership even in the strategic sectors. Successful completion of Air India disinvestment should infuse confidence for the roadmap," it added.

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Despite the COVID-19 pandemic, India's economic growth in the upcoming financial year, i.e., 2022-23, can be surprising on the higher side, ASSOCHAM Secretary-General said on Monday.

Despite the COVID-19 pandemic, India's economic growth in the upcoming financial year, i.e., 2022-23, can be surprising on the higher side, ASSOCHAM Secretary-General said on Monday. "While the 8-8.5 per cent GDP projections for FY23 are on the back of a high base of 9.2 per cent in the current financial year, ASSOCHAM is of the view that India's economic growth can surprise us on the higher side. "Even as the pandemic is still raging in most parts of the world, its latest variant is less damaging. Besides, with 75 per cent of eligible Indians fully vaccinated and the booster dose being rolled out, India would be far better prepared to take on the challenges," ASSOCHAM Secretary General Deepak Sood said. ASSOCHAM said it shares the prognosis of the Economic Survey that the Indian economy is well placed to take on the challenges of 2022-23, riding on the back of continuous reforms in supply-side and safety nets to the vulnerable sections of the society. Sood further said that the advance estimates suggest manufacturing to be growing by 12.5 per cent in the current fiscal while services would expand by 8.5 per cent. "Traditionally, services grow at a faster face. Clearly, the Covid impact on contact intensive industries is reflecting even as manufacturing has been aided by supply-side reforms. Once the impact of PLI scheme kicks in, we expect the manufacturing to be leading the growth for the foreseeable future," Sood said, adding that robust performance in exports has also helped the manufacturing. He further said that the Economic Survey is right in its assessment about the investment scenario, saying: "The private investment recovery is still at a nascent stage, though there are increased activities in the brownfield projects. Heavy lifting would still be needed by the government with capital expenditure, and we expect that in the Budget." The Survey has pointed out that the government has the fiscal capacity to maintain the support, and ramp up capital expenditure when required, ASSOCHAM said in a statement. "Schemes like credit guarantee with 100 per cent guarantee for additional funding of Rs 4.5 lakh crore to MSMEs have provided critical relief to the sectors severely hit by the pandemic. More such measures are expected in the Budget," it said. "The Survey has re-emphasised the government's asset monetisation and disinvestment agenda, which spells out bare minimum presence of government ownership even in the strategic sectors. Successful completion of Air India disinvestment should infuse confidence for the roadmap," it added. ×

India's economic growth in 2022-23 could spring a surprise: ASSOCHAM

American companies having a foothold in India and those planning to expand their business in the fastest growing economy of the world expect 'Tax parity'&nbsp;in the annual budget to be tabled by Finance Minister Nirmala Sitharaman, the head of a top India-centric US business advocacy group said.

Mukesh Aghi, president, US India Strategic and Partnership Forum (USISPF) said the American companies have high expectations from what Sitharaman would present in her fourth annual budget on Tuesday. The US companies, he noted, are very keen on investing in India as they believe that the fundamentals of the economy remain strong in the country, offer a big market and they would like to diversify given the Chinese risk factor.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/will-indias-union-budget-2022-will-live-up-to-the-expectations-of-ev-industry-449314">Will India's Union Budget 2022 will live up to the expectations of EV industry?</a>

"They (US companies) are looking at tax parity. For example, e-commerce companies that have equalisation levy, that needs to be done away with. They are looking at lowering of tariffs. It is good for India also because domestic companies become much more competitive and efficient,"&nbsp;he told PTI in an interview on Monday.

American companies, Aghi said, are looking at more investment in India's infrastructure. They also want the labour laws and land acquisition process streamlined, he observed.

"Because ease-of-doing business is still very critical in the minds of these investors. They spent a lot of time putting in an application for more land or water so that has to be sorted out,"&nbsp;he said.

The USISPF chief further said the US companies, from a long-term perspective, expect from the annual budget "a sense of predictability, transparency and concentrated process". These are the critical questions raised inside a boardroom when a company is planning to invest millions or billions in India, he added.

Watch |&nbsp;Indian FM Nirmala Sitharaman tables Indian Economic Survey, 8-8.5% GDP growth projected for FY23

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"I think it is important that the tax regime, for example, do not behave like tax terrorism, but behave more like tax partners. If you look at any US company at the moment, there will be some kind of tax issues with the authorities," he said in response to a question.

Aghi added that it is important that corporate taxes are in line from a global perspective. They do not have extra taxes, which makes these companies' cost of manufacturing itself more expensive, he said.

He said Sitharaman has been transparent and her confidence has gone up in handling the economy and the budget itself.

Asked about the expectations of Indian Americans from the budget, Aghi said certain reforms in the regulations and taxations related to start-ups in India would help them create a better atmosphere and bring in more investment from the diaspora.

"What we are seeing is more and more Indian Americans are funding startups,"&nbsp;he said, noting that India produced 44 unicorns last year and there are over 10,000 startups blossoming in India.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/what-can-the-start-ups-in-india-expect-from-countrys-union-budget-2022-23-449295">What can the start-ups in India expect from country's Union Budget 2022-23?</a>

"It is important to allow these startups to list in the US as the capital and access is much easily available in the US, so valuation gets better,"&nbsp;he said, adding that taxation reform is essential on options granted to employees. Early taxation on such options makes it less attractive, he argued.

"India has a tremendous success story of startups. It is the third-largest ecosystem in the world. That shows the zeal and the spirit of entrepreneurs in India". They are willing to go out into an environment in which they can get better.

"At the end of day, startups are job creators, and they are innovators. The combination is critical for India to sustain 8.5 to 9 per cent economic growth for the next 10-15 years,"&nbsp;Aghi added.

American companies having a foothold in India and those planning to expand their business in the fastest growing economy of the world expect 'Tax parity' in the annual budget to be tabled by Finance Minister Nirmala Sitharaman, the head of a top India-centric US business advocacy group said.

American companies having a foothold in India and those planning to expand their business in the fastest growing economy of the world expect 'Tax parity' in the annual budget to be tabled by Finance Minister Nirmala Sitharaman, the head of a top India-centric US business advocacy group said. Mukesh Aghi, president, US India Strategic and Partnership Forum (USISPF) said the American companies have high expectations from what Sitharaman would present in her fourth annual budget on Tuesday. The US companies, he noted, are very keen on investing in India as they believe that the fundamentals of the economy remain strong in the country, offer a big market and they would like to diversify given the Chinese risk factor. Also read | Will India's Union Budget 2022 will live up to the expectations of EV industry? "They (US companies) are looking at tax parity. For example, e-commerce companies that have equalisation levy, that needs to be done away with. They are looking at lowering of tariffs. It is good for India also because domestic companies become much more competitive and efficient," he told PTI in an interview on Monday. American companies, Aghi said, are looking at more investment in India's infrastructure. They also want the labour laws and land acquisition process streamlined, he observed. "Because ease-of-doing business is still very critical in the minds of these investors. They spent a lot of time putting in an application for more land or water so that has to be sorted out," he said. The USISPF chief further said the US companies, from a long-term perspective, expect from the annual budget "a sense of predictability, transparency and concentrated process". These are the critical questions raised inside a boardroom when a company is planning to invest millions or billions in India, he added. Watch | Indian FM Nirmala Sitharaman tables Indian Economic Survey, 8-8.5% GDP growth projected for FY23 "I think it is important that the tax regime, for example, do not behave like tax terrorism, but behave more like tax partners. If you look at any US company at the moment, there will be some kind of tax issues with the authorities," he said in response to a question. Aghi added that it is important that corporate taxes are in line from a global perspective. They do not have extra taxes, which makes these companies' cost of manufacturing itself more expensive, he said. He said Sitharaman has been transparent and her confidence has gone up in handling the economy and the budget itself. Asked about the expectations of Indian Americans from the budget, Aghi said certain reforms in the regulations and taxations related to start-ups in India would help them create a better atmosphere and bring in more investment from the diaspora. "What we are seeing is more and more Indian Americans are funding startups," he said, noting that India produced 44 unicorns last year and there are over 10,000 startups blossoming in India. Also read | What can the start-ups in India expect from country's Union Budget 2022-23? "It is important to allow these startups to list in the US as the capital and access is much easily available in the US, so valuation gets better," he said, adding that taxation reform is essential on options granted to employees. Early taxation on such options makes it less attractive, he argued. "India has a tremendous success story of startups. It is the third-largest ecosystem in the world. That shows the zeal and the spirit of entrepreneurs in India". They are willing to go out into an environment in which they can get better. "At the end of day, startups are job creators, and they are innovators. The combination is critical for India to sustain 8.5 to 9 per cent economic growth for the next 10-15 years," Aghi added.

India Union Budget 2022: Tax partnership not 'tax terrorism', US companies look for tax parity, predictability

India's Finance Minister Nirmala Sitharaman on Tuesday (February 1), presented the Budget 2022-2023 aiming to put the economy on the path of development amid the ongoing coronavirus (COVID-19) pandemic.

India's Finance Minister Nirmala Sitharaman on Tuesday (February 1), presented the Budget 2022-2023 aiming to put the economy on the path of development amid the ongoing coronavirus (COVID-19) pandemic. Overall, the government emphasised capital expenditure and investments to power the country's GDP growth forward with a pro-growth Budget. The government is aiming to step up spending to $529.7 billion (Rs39.45 trillion) in the coming fiscal year to drive economic growth and infrastructure. It is important to note that it involves a wider fiscal deficit than targeted and record borrowing. While presenting the budget, Sitharaman said that total government spending in the 2022-23 fiscal year beginning in April will be 4.6 per cent more than the current year. ALSO READ | India Union Budget 2022: What gets costly, what will be cheaper In her opening remarks, Sitharaman said that the growth is estimated to be 9.2 per cent for 2021-2022, the fastest among the world's major economies. As mentioned by an Indian politician and Bharatiya Janata Party (BJP) leader Kiren Rijiju, it is an "inclusive" Budget that takes care of the interests of every section of society including the poor, rural and border areas. But how will it impact the Non-Resident Indian (NRI)? Here's a report: Main Pointers -The introduction of the digital rupee might benefit NRIs in reducing the cost of cross-border remittances. -E-passports with the embedded chip will help in managing arrival and departure with ease. The chip will help in linkages of data with the Indian Ministry of External Affairs and tax authorities. -Those who want to file updated tax returns can do it for 2 years from the end of the assessment year. It will also help those who are living abroad. Bharat Bhatia, who is the founder and CEO of Conares, the second-largest private steel manufacturer in the UAE, said as quoted by an India-based news agency ANI: "The finance minister presented a highly promising budget projecting a lot of opportunities for growth and investments that would prove to be beneficial to the economy at large." "The budget promises marginal allocations for urban capacity building, modernisation of building by laws, town planning schemes and transit-oriented development will be implemented," he said. ALSO READ | How Budget 2022-2023 will impact the common man and middle class in India? Bhatia also appreciated revoking customs duty on stainless steel, flat products and high steel bars; in addition to the extension of customs duty exemption on steel scrap for another year for small and medium-sized businesses. Dr Sunil Kumar K, who is the Managing Director of SAM Corporate in Dubai, hailed the announcements on e-passports and digital currency. As quoted by the news agency, Kumar said that e-passports will help NRIs and the RBI's digital Rupee will be a trendsetter in the digital currency market, "where state can play a catalyst and bring controls and confidence. The future is bright." During her Budget speech, Sitharaman proposed that the Reserve Bank of India (RBI) will introduce digital currency in the next financial year beginning April 2022 to boost the digital economy and efficient currency management. She also said e-passports with the embedded chip will be rolled out. According to Kumar, the voluntary winding up of companies will bring in increased growth without bad baggage and improve investors confidence. "Financing of Investment is a welcome move which is going to provide huge impetus to growth of early stage companies. Nothing could be better than supporting the young entrepreneurial generation," he added. WATCH WION's analysis | Union Budget 2022: A lot of this year's budget is focused on digital, says Niranjan Hiranandani × (With inputs from agencies)

How will Union Budget 2022-2023 impact Non-Resident Indians (NRIs)?

After presenting the Budget in Parliament, India's finance minister Nirmala Sitharaman said that India's central bank will issue digital currencies.

Sitharaman said consultations with stakeholders on the description of digital assets is underway while adding that the RBI will issue digital currencies in the country.

<a href="https://www.wionews.com/india-news/india-union-budget-2022-what-gets-costly-what-will-be-cheaper-449550">Also Read |&nbsp;India Union Budget 2022: What gets costly, what will be cheaper</a>

"Everything that prevails outside of it is assets being created by individuals and we are taxing profits made out of transactions of those assets at 30 per cent," India's finance minister added.

"We are also tracking every trail of money in the transaction of crypto assets by imposing 1 per cent TDS on every transaction," Sitharaman said.

Watch:&nbsp;A lot of this year's budget is focused on digital, says Niranjan Hiranandani

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India's finance minister added that&nbsp;not even a "single paisa" increase in taxes was imposed in the Budget this year since PM Narendra Modi had given clear instructions not to tax people during the pandemic despite the deficit while adding that the government has taken several steps to tackle unemployment and inflation.

<a href="https://www.wionews.com/business-economy/indian-union-budget-2022-no-change-in-income-tax-rates-tax-relief-for-persons-with-disabilities-449480">Also Read:&nbsp;Indian Union Budget 2022: No change in income tax rates, tax relief for persons with disabilities</a>

"Our government didn't allow inflation to go double-digit. Yes, it breached the 6 per cent limit for a month but never crossed it," India's finance minister said.

"The pandemic snatched away so many jobs across the world but the Atmanirbhar Bharat package saved jobs for a lot of people."

"We are trying to help those who lost their jobs through various schemes, it is not fair to say that we didn't do anything," the finance minister asserted.

(With inputs from Agencies)

After presenting the Budget in Parliament, India's finance minister Nirmala Sitharaman said that India's central bank will issue digital currencies. Sitharaman said consultations with stakeholders on the description of digital assets is underway while adding that the RBI will issue digital currencies in the country.

After presenting the Budget in Parliament, India's finance minister Nirmala Sitharaman said that India's central bank will issue digital currencies. Sitharaman said consultations with stakeholders on the description of digital assets is underway while adding that the RBI will issue digital currencies in the country. Also Read | India Union Budget 2022: What gets costly, what will be cheaper "Everything that prevails outside of it is assets being created by individuals and we are taxing profits made out of transactions of those assets at 30 per cent," India's finance minister added. "We are also tracking every trail of money in the transaction of crypto assets by imposing 1 per cent TDS on every transaction," Sitharaman said. Watch: A lot of this year's budget is focused on digital, says Niranjan Hiranandani India's finance minister added that not even a "single paisa" increase in taxes was imposed in the Budget this year since PM Narendra Modi had given clear instructions not to tax people during the pandemic despite the deficit while adding that the government has taken several steps to tackle unemployment and inflation. Also Read: Indian Union Budget 2022: No change in income tax rates, tax relief for persons with disabilities "Our government didn't allow inflation to go double-digit. Yes, it breached the 6 per cent limit for a month but never crossed it," India's finance minister said. "The pandemic snatched away so many jobs across the world but the Atmanirbhar Bharat package saved jobs for a lot of people." "We are trying to help those who lost their jobs through various schemes, it is not fair to say that we didn't do anything," the finance minister asserted. (With inputs from Agencies)

Indian Union Budget 2022: We are tracking every transaction in crypto assets, says Nirmala Sitharaman

The Indian markets ended on a buoyant note after finance minister Nirmala Sitharaman's presented the Budget in Parliament on Tuesday.

The Sensex jumped 848.40 points to end at 58,862.57 and the Nifty rose 237.00 points to end at 17,576.85.

The Sensex had opened over 600 points up and the Nifty had advanced 159 points in opening trade ahead of the Budget presentation.

<a href="https://www.wionews.com/business-economy/how-budget-2022-2023-will-impact-the-common-man-and-middle-class-in-india-449505">Also Read:&nbsp;How Budget 2022-2023 will impact the common man and middle class in India?</a>

Bank stocks led the gains early as IndusInd Bank was the top gainer along with ICICI Bank, HDFC twins and Kotak Bank. In the Economic Survey presented on Monday, India's finance minister had forecast GDP growth at 9.2 per cent for 2021/2022.

Watch:&nbsp;Will startups be the engine of jobs?

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"The economy has shown strong resilience to come out of the effects of the pandemic with high growth. However, we need to sustain that level to make up for the setback of 2020/21," India's finance minister had said during the Budget speech as she added that the fiscal deficit for the current financial year was expected to be 6.9 per cent slightly more than the 6.8 per cent targeted earlier.

During the speech, the markets had reached an intra-day high of 59,032.20.

<a href="https://www.wionews.com/business-economy/india-union-budget-2022-pm-gati-shakti-plan-highlights-449450">Also Read | India Union Budget 2022: PM Gati Shakti plan highlights</a>

Tata Steel was the biggest gainer on Budget day going up 7.57 per cent with Sun Pharma, IndusInd Bank, L&amp;T, UltraCement, ITC and HCL Tech also making gains. However, Bharti Airtel, Maruti, NTPC, Reliance and SBI lost out on Budget day.

(With inputs from Agencies)

The Indian markets ended on a buoyant note after finance minister Nirmala Sitharaman's presented the Budget in Parliament on Tuesday. The Sensex jumped 848.40 points to end at 58,862.

The Indian markets ended on a buoyant note after finance minister Nirmala Sitharaman's presented the Budget in Parliament on Tuesday. The Sensex jumped 848.40 points to end at 58,862.57 and the Nifty rose 237.00 points to end at 17,576.85. The Sensex had opened over 600 points up and the Nifty had advanced 159 points in opening trade ahead of the Budget presentation. Also Read: How Budget 2022-2023 will impact the common man and middle class in India? Bank stocks led the gains early as IndusInd Bank was the top gainer along with ICICI Bank, HDFC twins and Kotak Bank. In the Economic Survey presented on Monday, India's finance minister had forecast GDP growth at 9.2 per cent for 2021/2022. Watch: Will startups be the engine of jobs? "The economy has shown strong resilience to come out of the effects of the pandemic with high growth. However, we need to sustain that level to make up for the setback of 2020/21," India's finance minister had said during the Budget speech as she added that the fiscal deficit for the current financial year was expected to be 6.9 per cent slightly more than the 6.8 per cent targeted earlier. During the speech, the markets had reached an intra-day high of 59,032.20. Also Read | India Union Budget 2022: PM Gati Shakti plan highlights Tata Steel was the biggest gainer on Budget day going up 7.57 per cent with Sun Pharma, IndusInd Bank, L&T, UltraCement, ITC and HCL Tech also making gains. However, Bharti Airtel, Maruti, NTPC, Reliance and SBI lost out on Budget day. (With inputs from Agencies)

India Union Budget 2022: Markets cheer as Sensex, Nifty close on a high

After finance minister Nirmala Sitharaman presented India's Budget, Prime Minister Narendra Modi said the "Budget is full of possibilities for more investments including infrastructure and jobs."

"Budget has provisions to make farming profitable," PM Modi said.

India's prime minister said the Budget is "people-friendly" and "progressive" while adding that,&nbsp;"Parvatmala scheme to promote transport, connectivity in hilly regions will also make villages in the border areas more vibrant."

<a href="https://www.wionews.com/business-economy/how-budget-2022-2023-will-impact-the-common-man-and-middle-class-in-india-449505">Also Read:&nbsp;How Budget 2022-2023 will impact the common man and middle class in India?</a>

The&nbsp;"Parvat Mala" has been introduced in Uttarakhand, J&amp;K, Himachal Pradesh and the northeastern state to ensure transportation and connectivity.

Watch |&nbsp;India Budget 2022: 4 main pillars of development highlighted

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"This Budget brings in new hopes and opportunities for the people. It strengthens the economy," the Indian prime minister said, adding, "There is also a new provision of green jobs."

"The Budget ensures a bright future for the youth," PM Modi said.

<a href="https://www.wionews.com/business-economy/india-union-budget-2022-sitharaman-unveils-india-100-key-points-449424">Also Read:&nbsp;India Union Budget 2022: Sitharaman unveils India @ 100 - Key points</a>

"An announcement of over Rs 2.25 lakh crores MSP will be directly transferred to farmers," the prime minister said.

"For MSMEs, credit guarantee and many new schemes have been announced," the PM said.

India's prime minister said natural farming on the banks of Ganga in Uttarakhand, Uttar Pradesh, Jharkhand, Bihar, West Bengal will be promoted in a move to make the Ganga "chemical-free".

(With inputs from Agencies)

After finance minister Nirmala Sitharaman presented India's Budget, Prime Minister Narendra Modi said the "Budget is full of possibilities for more investments including infrastructure and jobs.

After finance minister Nirmala Sitharaman presented India's Budget, Prime Minister Narendra Modi said the "Budget is full of possibilities for more investments including infrastructure and jobs." "Budget has provisions to make farming profitable," PM Modi said. India's prime minister said the Budget is "people-friendly" and "progressive" while adding that, "Parvatmala scheme to promote transport, connectivity in hilly regions will also make villages in the border areas more vibrant." Also Read: How Budget 2022-2023 will impact the common man and middle class in India? The "Parvat Mala" has been introduced in Uttarakhand, J&K, Himachal Pradesh and the northeastern state to ensure transportation and connectivity. Watch | India Budget 2022: 4 main pillars of development highlighted "This Budget brings in new hopes and opportunities for the people. It strengthens the economy," the Indian prime minister said, adding, "There is also a new provision of green jobs." "The Budget ensures a bright future for the youth," PM Modi said. Also Read: India Union Budget 2022: Sitharaman unveils India @ 100 - Key points "An announcement of over Rs 2.25 lakh crores MSP will be directly transferred to farmers," the prime minister said. "For MSMEs, credit guarantee and many new schemes have been announced," the PM said. India's prime minister said natural farming on the banks of Ganga in Uttarakhand, Uttar Pradesh, Jharkhand, Bihar, West Bengal will be promoted in a move to make the Ganga "chemical-free". (With inputs from Agencies)

Budget brings in new hopes and opportunities for the people: PM Modi

In her Budget speech, India's finance minister Nirmala Sitharaman said the Budget seeks to lay the foundation to steer the economy over "Amrit Kaal" of the next 25 years from India at 75 to India at 100 while continuing to build on the vision of Budget.

In a sense, India's finance minister was pointing towards the long-term effect of the Budget as a vision statement.

<a href="https://www.wionews.com/india-news/indian-union-budget-2022-finance-minister-announces-kisan-drones-in-boost-to-agriculture-sector-449449">Also Read |&nbsp;Budget 2022: Finance Minister announces kisan drones in boost to agriculture sector</a>

"The approach is powered by clean energy and Sabka Prayas(everyone's effort together&nbsp;leading to huge job and entrepreneurial opportunities for all, especially the youth," India's finance minister said while highlighting the plan.

It involved seven engines - roads, railways, airports, mass transport, ports, waterways and logistics infrastructure which will be supported by energy transmission, IT, water, sewerage and social infrastructure.&nbsp;

Watch:&nbsp;We will undertake reforms in customs administration of SEZ, says Sitharaman

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The plan is based on "seamless multimodal connectivity and logistics efficiency". It will also include infrastructure developed by state governments, according to the "Gati Shakti National Master Plan".

According to the plan, the key focus would be planning, financing and finding innovative ways through technology and fast implementation.

<a href="https://www.wionews.com/business-economy/indian-union-budget-2022-no-change-in-income-tax-rates-tax-relief-for-persons-with-disabilities-449480">Also Read|&nbsp;Budget 2022: No change in income tax rates, tax relief for persons with disabilities</a>

PM Gati Shakti framework is the key focus area, according to the finance minister's Budget statement. The PM Gati Shakti programme seeks to formulate a master plan for expressways for the faster movement of people and goods.

It involves a Unified Logistics Interface Platform (ULIP) designed for application programming interface (API). It will cut time and eliminate tedious documentation, Sitharaman said.

"This will provide real-time information to all stakeholders and improve international competitiveness. Open-source mobility stack&nbsp;for organising seamless travel of passengers will also be facilitated," the finance minister informed.

(With inputs from Agencies)

In her Budget speech, India's finance minister Nirmala Sitharaman said the Budget seeks to lay the foundation to steer the economy over "Amrit Kaal" of the next 25 years from India at 75 to India at 100 while continuing to build on the vision of Budget.

In her Budget speech, India's finance minister Nirmala Sitharaman said the Budget seeks to lay the foundation to steer the economy over "Amrit Kaal" of the next 25 years from India at 75 to India at 100 while continuing to build on the vision of Budget. In a sense, India's finance minister was pointing towards the long-term effect of the Budget as a vision statement. Also Read | Budget 2022: Finance Minister announces kisan drones in boost to agriculture sector "The approach is powered by clean energy and Sabka Prayas(everyone's effort together leading to huge job and entrepreneurial opportunities for all, especially the youth," India's finance minister said while highlighting the plan. It involved seven engines - roads, railways, airports, mass transport, ports, waterways and logistics infrastructure which will be supported by energy transmission, IT, water, sewerage and social infrastructure. Watch: We will undertake reforms in customs administration of SEZ, says Sitharaman The plan is based on "seamless multimodal connectivity and logistics efficiency". It will also include infrastructure developed by state governments, according to the "Gati Shakti National Master Plan". According to the plan, the key focus would be planning, financing and finding innovative ways through technology and fast implementation. Also Read| Budget 2022: No change in income tax rates, tax relief for persons with disabilities PM Gati Shakti framework is the key focus area, according to the finance minister's Budget statement. The PM Gati Shakti programme seeks to formulate a master plan for expressways for the faster movement of people and goods. It involves a Unified Logistics Interface Platform (ULIP) designed for application programming interface (API). It will cut time and eliminate tedious documentation, Sitharaman said. "This will provide real-time information to all stakeholders and improve international competitiveness. Open-source mobility stack for organising seamless travel of passengers will also be facilitated," the finance minister informed. (With inputs from Agencies)

Indian Union Budget 2022: Amrit Kaal & India at 100 explained

India's Finance Minister Nirmala Sitharaman on Tuesday (February 1) introduced the Finance Bill 2022, which is deemed as a pro-growth Budget with an emphasis on capital expenditure and investments to power the country's GDP growth forward amid the ongoing coronavirus (COVID-19) pandemic.&nbsp;

Rajyavardhan Singh Rathore, who is a leader of the ruling party Bharatiya Janata Party (BJP) called it&nbsp;a budget for the "common man".&nbsp;

He said, "With an increase of 35% in infrastructure, to automatically accelerate the economy. It's a booster shot that will pace up manufacturing in the country, keeping the country's money in the country."&nbsp;

Another BJP leader and minister of law Kiren Rijiju said it is an inclusive Budget that takes care of the interests of every section of society including the poor, rural and border areas.&nbsp;

But how will the Budget 2022-2023 will impact the common man and middle class? Here's a report:&nbsp;

Taxation: There are no changes in income tax slabs and rates.&nbsp;

Those who want to file updated tax returns can do it for 2 years from the end of the assessment year. India's FM also said that the incomes that might have been missed out can be declared.&nbsp;

Differently-abled people: Payment of annuity and lump sum amount from insurance scheme to be allowed to differently-abled dependent during the lifetime of parents/guardians, i.e., on parents/ guardian attaining the age of 60 years.&nbsp;

Parity in National Pension Scheme Contribution: Tax deduction limit increased from 10 per cent to 14 per cent on employer's contribution to the NPS account of State Government employees.&nbsp;

Employment: Productivity Linked Incentive (PLI) scheme in 14 sectors to create 60 lakh jobs. Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to empower citizens to skill, reskill or upskill through online training.&nbsp;

Health: An open platform for National Digital Health Ecosystem to be rolled out. 'National Tele Mental Health Programme' for quality mental health counselling and care services to be launched.&nbsp;

Housing: Rs 48,000 crore allocated for completion of 80 lakh houses in 2022-23 under PM Awas Yojana.&nbsp;

Crypto investment: On cryptocurrency exchanges and apps, which are luring millions into investing in digital tokens, the Indian government announced a 30 per cent tax on any income from the transfer of virtual digital assets, specifying that no deductions and exemptions will be allowed.&nbsp;

"Accordingly, for the taxation of virtual digital assets, I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent," Sitharaman said.&nbsp;

"No deduction in respect of any expenditure or allowance shall be allowed while computing such income except cost of acquisition. Further, loss from transfer of virtual digital assets cannot be set off against any other income," she stressed.&nbsp;

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India's Finance Minister Nirmala Sitharaman on Tuesday (February 1) introduced the Finance Bill 2022, which is deemed as a pro-growth Budget with an emphasis on capital expenditure and investments to power the country's GDP growth forward amid the ongoing coronavirus (COVID-19) pandemic.

India's Finance Minister Nirmala Sitharaman on Tuesday (February 1) introduced the Finance Bill 2022, which is deemed as a pro-growth Budget with an emphasis on capital expenditure and investments to power the country's GDP growth forward amid the ongoing coronavirus (COVID-19) pandemic. Rajyavardhan Singh Rathore, who is a leader of the ruling party Bharatiya Janata Party (BJP) called it a budget for the "common man". He said, "With an increase of 35% in infrastructure, to automatically accelerate the economy. It's a booster shot that will pace up manufacturing in the country, keeping the country's money in the country." Another BJP leader and minister of law Kiren Rijiju said it is an inclusive Budget that takes care of the interests of every section of society including the poor, rural and border areas. But how will the Budget 2022-2023 will impact the common man and middle class? Here's a report: Taxation: There are no changes in income tax slabs and rates. Those who want to file updated tax returns can do it for 2 years from the end of the assessment year. India's FM also said that the incomes that might have been missed out can be declared. Differently-abled people: Payment of annuity and lump sum amount from insurance scheme to be allowed to differently-abled dependent during the lifetime of parents/guardians, i.e., on parents/ guardian attaining the age of 60 years. Parity in National Pension Scheme Contribution: Tax deduction limit increased from 10 per cent to 14 per cent on employer's contribution to the NPS account of State Government employees. Employment: Productivity Linked Incentive (PLI) scheme in 14 sectors to create 60 lakh jobs. Digital Ecosystem for Skilling and Livelihood (DESH-Stack e-portal) will be launched to empower citizens to skill, reskill or upskill through online training. Health: An open platform for National Digital Health Ecosystem to be rolled out. 'National Tele Mental Health Programme' for quality mental health counselling and care services to be launched. Housing: Rs 48,000 crore allocated for completion of 80 lakh houses in 2022-23 under PM Awas Yojana. Crypto investment: On cryptocurrency exchanges and apps, which are luring millions into investing in digital tokens, the Indian government announced a 30 per cent tax on any income from the transfer of virtual digital assets, specifying that no deductions and exemptions will be allowed. "Accordingly, for the taxation of virtual digital assets, I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent," Sitharaman said. "No deduction in respect of any expenditure or allowance shall be allowed while computing such income except cost of acquisition. Further, loss from transfer of virtual digital assets cannot be set off against any other income," she stressed. ×

How Budget 2022-2023 will impact the common man and middle class in India?

India's Finance Minister Nirmala Sitharaman during her Union Budget speech said that the government will introduce a new policy for battery swapping. This is being done to encourage the use of electric vehicles.

"Considering the constraint of space in urban areas for setting up charging stations, battery swapping policy will be brought out and interoperability standards will be formalised," the Finance Minister said.

This comes in as India's Reliance Industries and Britain's BP Plc have collaborated for battery swapping in the country.

<a href="https://www.wionews.com/business-economy/union-budget-2022-indias-finance-minister-sitharaman-says-growth-expected-at-92-449432">Also read&nbsp; |&nbsp;Union Budget 2022: India's Finance Minister Sitharaman says growth expected at 9.2%</a>

After the announcement was made, shares of several Indian battery makers surged by 2 per cent.

In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus. 
Like last year, the budget was paperless. However, it will be available on an application named "Union Budget Mobile App".&nbsp;

The mobile app allows complete access to 14 Union Budget documents. This includes the Budget Speech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill as prescribed by the Constitution.&nbsp;

(With inputs from agencies)

India's Finance Minister Nirmala Sitharaman during her Union Budget speech said that the government will introduce a new policy for battery swapping. This is being done to encourage the use of electric vehicles.

India's Finance Minister Nirmala Sitharaman during her Union Budget speech said that the government will introduce a new policy for battery swapping. This is being done to encourage the use of electric vehicles. "Considering the constraint of space in urban areas for setting up charging stations, battery swapping policy will be brought out and interoperability standards will be formalised," the Finance Minister said. This comes in as India's Reliance Industries and Britain's BP Plc have collaborated for battery swapping in the country. Also read | Union Budget 2022: India's Finance Minister Sitharaman says growth expected at 9.2% After the announcement was made, shares of several Indian battery makers surged by 2 per cent. In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus. Like last year, the budget was paperless. However, it will be available on an application named "Union Budget Mobile App". The mobile app allows complete access to 14 Union Budget documents. This includes the Budget Speech, Annual Financial Statement (commonly known as Budget), Demand for Grants (DG), Finance Bill as prescribed by the Constitution. (With inputs from agencies)

Budget 2022: India to introduce a new policy to promote battery swapping

India's Finance Minister Nirmala Sitharaman hailed the tax-payers of the country as she announced that Goods and Services Tax (GST) collections touched a record of Rs1.4 trillion on rapid economic recovery.&nbsp;

With an aim to put the pandemic-ravaged economy on the path of development, India's finance minister introduced the Finance Bill 2022 in Parliament.&nbsp;

Important&nbsp;to note that January is the seventh straight month when the GST collection has crossed the Rs 1 trillion mark.&nbsp;

During her address of Budget 2022-2023, Sitharaman said there has been remarkable progress made in the GST regime, but still, a few challenges remain. "Gross GST collection in January at record Rs 1,40,986 crores; this has been possible due to rapid economic recovery," she said.&nbsp;

Reflecting on the economy, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19).&nbsp;

The finance minister further said that the nation is in the midst of the Omicron wave but the speed of the vaccination campaign has helped greatly. She said, "I am confident that 'Sabka Prayaas' we'll continue with strong growth."

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India's Finance Minister Nirmala Sitharaman hailed the tax-payers of the country as she announced that Goods and Services Tax (GST) collections touched a record of Rs1.

India's Finance Minister Nirmala Sitharaman hailed the tax-payers of the country as she announced that Goods and Services Tax (GST) collections touched a record of Rs1.4 trillion on rapid economic recovery. With an aim to put the pandemic-ravaged economy on the path of development, India's finance minister introduced the Finance Bill 2022 in Parliament. Important to note that January is the seventh straight month when the GST collection has crossed the Rs 1 trillion mark. During her address of Budget 2022-2023, Sitharaman said there has been remarkable progress made in the GST regime, but still, a few challenges remain. "Gross GST collection in January at record Rs 1,40,986 crores; this has been possible due to rapid economic recovery," she said. Reflecting on the economy, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19). The finance minister further said that the nation is in the midst of the Omicron wave but the speed of the vaccination campaign has helped greatly. She said, "I am confident that 'Sabka Prayaas' we'll continue with strong growth." ×

Indian finance minister hails tax-payers over highest-ever GST collection in January 2022

<a href="https://www.wionews.com/business-economy/indian-union-budget-2022-no-change-in-income-tax-rates-tax-relief-for-persons-with-disabilities-449480">Also read | No change in income tax rates, tax relief for persons with disabilities</a> 
 
<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2020/04/27/138227-tax-ians.jpg" /> 
Indian finance minister Nirmala Sitharaman in Budget 2022 allowed provision for tax players to file updated return on payment of taxes within two years from the end of the assessment year.

<a href="https://www.wionews.com/business-economy/indian-union-budget-2022-what-the-start-ups-received-from-this-years-budget-449475">Also read | Indian Union Budget 2022: What the start-ups received from this year's budget</a> 
 
<img src="https://cdn.wionews.com/sites/default/files/styles/story_page/public/2022/02/01/237617-untitled-design-2022-02-01t112517481.jpg" /> 
After Indian Finance Minister Nirmala Sitharaman concluded her 90-minute long budget speech, Parliament adjourned till 4:30 pm tomorrow.

Announcements for taxpayers

Taxpayers have two years from the end of the relevant assessment year to make an updated return on payment of taxes.

The new provision will encourage people to file their taxes voluntarily and reduce litigation.

The proceeds of virtual/digital assets are subject to a 30% tax, with no deductions other than the cost of purchase.

There is no allowance for a set-off against other income.

Payments made for the transfer of digital assets will be subject to a 1% TDS.

Employer contributions to the National Pension System (NPS) are now deducted at a rate of 14 per cent for state government employees, up from 10 per cent previously.&nbsp; 
&nbsp;

Income from cryptocurrency to be taxed at 30%

In her Budget speech, Finance Minister Nirmala Sitharaman made a huge statement, saying that any income from virtual digital assets will be taxed at 30%.

She also stated that any losses incurred as a result of virtual digital assets cannot be offset against other gains.

Gifts of virtual digital assets will be taxed in the hands of the recipient, according to the FM.

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Important Announcements

Electric Vehicles

To strengthen the EV ecosystem, a battery-swapping regulation will be introduced along with interoperability standards.

E-passports

In 2022-23, the issuance of E passports employing embedded ship and futuristic technology will be rolled out to improve the convenience of citizens travelling abroad.

National Digital Health Ecosystem

Digital registries of health practitioners and facilities, a unique health identity, and universal access to health services will all be part of it.

Urban planning high-level committee

For recommendations on urban capacity building, planning execution, and governance, a high-level group of urban planners and economists will be constituted.&nbsp;

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<a href="https://twitter.com/hashtag/LIVE?src=hash&amp;ref_src=twsrc%5Etfw">#LIVE</a> | Indian Finance Minister <a href="https://twitter.com/nsitharaman?ref_src=twsrc%5Etfw">@nsitharaman</a> presents <a href="https://twitter.com/hashtag/UnionBudget2022?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget2022</a> in the parliament<a href="https://twitter.com/hashtag/BudgetSession?src=hash&amp;ref_src=twsrc%5Etfw">#BudgetSession</a> <a href="https://twitter.com/hashtag/UnionBudget?src=hash&amp;ref_src=twsrc%5Etfw">#UnionBudget</a> 
 
Watch more: <a href="https://t.co/AXC5qRuO3J">https://t.co/AXC5qRuO3J</a> <a href="https://t.co/mDFtYAEWbA">https://t.co/mDFtYAEWbA</a>
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Inclusion of financial resources

100% of the 150,000 post offices will be connected to the core banking system, allowing for financial inclusion and account access via net banking, mobile banking, and ATMs, as well as online fund transfers between post office and bank accounts.

This would be especially beneficial to farmers and senior residents in rural areas, as it will allow for interoperability and financial inclusion.

So far, Indian Finance Minister Nirmala Sitharaman has made a number of significant statements.

1) In the coming fiscal year, India's economic growth is expected to reach 9.2%.

2) Everyone can see that the health infrastructure is being strengthened and that the vaccination programme is being implemented quickly.

3) Afternoon Gati Shakti will propel the economy forward, resulting in more jobs and opportunity for young people.

4) In 2022-23, the National Highway network will be enlarged by 25,000 kilometres.Gati Shakti would have seven engines for multi-modal connectivity for states, as well as faster implementation of development projects using technology to allow for faster flow of people and products, thanks to a government-funded project worth Rs 200 billion.&nbsp;

5) Railways will develop efficient logistics for small farmers &amp; enterprises. 'One station, one product' to help supply chain of local product.

6) 100 Cargo Terminals under PM Gati Shakti will be developed in the next few years.

7) 'Parwatmala' for conventional roads in hilly areas to be taken in PPP modes.

India@100

Sitharaman said that their goal is complementing macro-growth with micro-all-inclusive welfare, digital economy and fintech, tech-enabled development, energy transition and climate action.

&nbsp;

<a href="https://www.wionews.com/business-economy/ahead-of-india-union-budget-2022-sensex-and-nifty-surge-in-early-trade-449412">Also read | Ahead of India Union Budget 2022, Sensex and Nifty surge in early trade</a> 
 
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The Sensex surged over 600 points in early trade to reach 58,617.56 as bank stocks ICICI, HDFC, Kotak rose including Sun Pharma, Infosys and Bajaj Finserv. 
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<h5>Finance Minister Nirmala Sitharaman took a digital tablet wrapped in a traditional bahi-khata style pouch as she headed for Parliament to present the Union Budget 2022-23 in a paperless format just like the last year.</h5>
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<h5>The Union Cabinet has approved the India Budget 2022; the Parliamentary meeting is now over. Nirmala Sitharaman, the Union Finance Minister, will present the Budget shortly.</h5>
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<h5>Prime Minister Narendra Modi arrives at the Parliament</h5>
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Delhi: Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others arrive at the Parliament for the union cabinet meeting ahead of the presenting of the <a href="https://twitter.com/hashtag/Budget?src=hash&amp;ref_src=twsrc%5Etfw">#Budget</a> <a href="https://t.co/GtUEvt7gmo">pic.twitter.com/GtUEvt7gmo</a>
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Also read | No change in income tax rates, tax relief for persons with disabilities Indian finance minister Nirmala Sitharaman in Budget 2022 allowed provision for tax players to file updated return on payment of taxes within two years from the end of the assessment year.

Also read | No change in income tax rates, tax relief for persons with disabilities Indian finance minister Nirmala Sitharaman in Budget 2022 allowed provision for tax players to file updated return on payment of taxes within two years from the end of the assessment year. Also read | Indian Union Budget 2022: What the start-ups received from this year's budget After Indian Finance Minister Nirmala Sitharaman concluded her 90-minute long budget speech, Parliament adjourned till 4:30 pm tomorrow. Announcements for taxpayers Taxpayers have two years from the end of the relevant assessment year to make an updated return on payment of taxes. The new provision will encourage people to file their taxes voluntarily and reduce litigation. The proceeds of virtual/digital assets are subject to a 30% tax, with no deductions other than the cost of purchase. There is no allowance for a set-off against other income. Payments made for the transfer of digital assets will be subject to a 1% TDS. Employer contributions to the National Pension System (NPS) are now deducted at a rate of 14 per cent for state government employees, up from 10 per cent previously. Income from cryptocurrency to be taxed at 30% In her Budget speech, Finance Minister Nirmala Sitharaman made a huge statement, saying that any income from virtual digital assets will be taxed at 30%. She also stated that any losses incurred as a result of virtual digital assets cannot be offset against other gains. Gifts of virtual digital assets will be taxed in the hands of the recipient, according to the FM. Digital Rupee based on blockchain to be introduced in 2022 by the RBI, says FM × Important Announcements Electric Vehicles To strengthen the EV ecosystem, a battery-swapping regulation will be introduced along with interoperability standards. E-passports In 2022-23, the issuance of E passports employing embedded ship and futuristic technology will be rolled out to improve the convenience of citizens travelling abroad. National Digital Health Ecosystem Digital registries of health practitioners and facilities, a unique health identity, and universal access to health services will all be part of it. Urban planning high-level committee For recommendations on urban capacity building, planning execution, and governance, a high-level group of urban planners and economists will be constituted. #LIVE | Indian Finance Minister @nsitharaman presents #UnionBudget2022 in the parliament#BudgetSession #UnionBudget Watch more: https://t.co/AXC5qRuO3J https://t.co/mDFtYAEWbA — WION (@WIONews) February 1, 2022 × Inclusion of financial resources 100% of the 150,000 post offices will be connected to the core banking system, allowing for financial inclusion and account access via net banking, mobile banking, and ATMs, as well as online fund transfers between post office and bank accounts. This would be especially beneficial to farmers and senior residents in rural areas, as it will allow for interoperability and financial inclusion. So far, Indian Finance Minister Nirmala Sitharaman has made a number of significant statements. 1) In the coming fiscal year, India's economic growth is expected to reach 9.2%. 2) Everyone can see that the health infrastructure is being strengthened and that the vaccination programme is being implemented quickly. 3) Afternoon Gati Shakti will propel the economy forward, resulting in more jobs and opportunity for young people. 4) In 2022-23, the National Highway network will be enlarged by 25,000 kilometres.Gati Shakti would have seven engines for multi-modal connectivity for states, as well as faster implementation of development projects using technology to allow for faster flow of people and products, thanks to a government-funded project worth Rs 200 billion. 5) Railways will develop efficient logistics for small farmers & enterprises. 'One station, one product' to help supply chain of local product. 6) 100 Cargo Terminals under PM Gati Shakti will be developed in the next few years. 7) 'Parwatmala' for conventional roads in hilly areas to be taken in PPP modes. India@100 Sitharaman said that their goal is complementing macro-growth with micro-all-inclusive welfare, digital economy and fintech, tech-enabled development, energy transition and climate action. Also read | Ahead of India Union Budget 2022, Sensex and Nifty surge in early trade The Sensex surged over 600 points in early trade to reach 58,617.56 as bank stocks ICICI, HDFC, Kotak rose including Sun Pharma, Infosys and Bajaj Finserv. Finance Minister Nirmala Sitharaman took a digital tablet wrapped in a traditional bahi-khata style pouch as she headed for Parliament to present the Union Budget 2022-23 in a paperless format just like the last year. × The Union Cabinet has approved the India Budget 2022; the Parliamentary meeting is now over. Nirmala Sitharaman, the Union Finance Minister, will present the Budget shortly. × Prime Minister Narendra Modi arrives at the Parliament × Delhi: Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others arrive at the Parliament for the union cabinet meeting ahead of the presenting of the #Budget pic.twitter.com/GtUEvt7gmo — ANI (@ANI) February 1, 2022 ×

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