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For more analysis on India's Union Budget 2022, WION speaks to Niranjan Hiranandani, Co-founder and Managing Director of Hiranandani group.

Union Budget 2022: A lot of this year's budget is focused on digital, says Niranjan Hiranandani

Union Budget 2022 was presented by India's Finance Minister Nirmala Sitharaman in the parliament on Tuesday (February 1). The budget was unique as it brought income from cryptocurrencies in the ambit of taxes. Introduction of digital rupee has also been included in budget 2022. A union budget has direct influence on prices of goods and it thus affects the pocket of citizens.

Indian budget 2022 is no exception to this. The provisions will result in some items getting costlier while others get cheaper.

The government has modified customs duty on several imported items.

These imported items are set to get costlier

<ul>
	<li>Imitation Jewellery</li>
	<li>Single or multiple loudspeakers</li>
	<li>Headphones and earphones</li>
	<li>Smart meters</li>
	<li>Solar cells</li>
	<li>Solar modules</li>
	<li>X-ray machines</li>
	<li>Parts of electronic toys</li>
	<li>Umbrellas</li>
</ul>

 
Certain imported goods will become cheaper as customs duty has been slashed

<ul>
	<li>Frozen mussels</li>
	<li>Frozen squids</li>
	<li>Asafoetida</li>
	<li>Cocoa beans</li>
	<li>Methyl alcohol</li>
	<li>Acetic acid</li>
	<li>Cut and polished diamonds</li>
	<li>Camera lens for cellular mobile phone</li>
	<li>Mobile phone chargers</li>
	<li>Wearable devices</li>
	<li>Heavy feed stocks for petroleum refining</li>
	<li>Steel</li>
</ul>

 
With Union Budget 2022, Indian government will spend 39.45 trillion rupees ($529.7 billion) in the coming fiscal year to build public infrastructure and drive economic growth. &nbsp;total government spending in the 2022/23 fiscal year beginning in April will be 4.6% more than the current year.

Also Read | <a href="https://www.wionews.com/india-news/indian-union-budget-2022-digital-rupee-to-be-introduced-virtual-assets-to-be-taxed-at-30-449464">Indian Union Budget 2022: Digital rupee to be introduced, virtual assets to be taxed at 30% &nbsp;</a>

Growth is estimated to be 9.2% for 2021/2022, coming off the low base and slowing to 8 to 8.5% in the coming fiscal year, still the fastest among the world`s major economies.

(With inputs from agencies)

Union Budget 2022 was presented by India's Finance Minister Nirmala Sitharaman in the parliament on Tuesday (February 1). The budget was unique as it brought income from cryptocurrencies in the ambit of taxes.

Union Budget 2022 was presented by India's Finance Minister Nirmala Sitharaman in the parliament on Tuesday (February 1). The budget was unique as it brought income from cryptocurrencies in the ambit of taxes. Introduction of digital rupee has also been included in budget 2022. A union budget has direct influence on prices of goods and it thus affects the pocket of citizens. Indian budget 2022 is no exception to this. The provisions will result in some items getting costlier while others get cheaper. The government has modified customs duty on several imported items. These imported items are set to get costlier Imitation Jewellery Single or multiple loudspeakers Headphones and earphones Smart meters Solar cells Solar modules X-ray machines Parts of electronic toys Umbrellas Certain imported goods will become cheaper as customs duty has been slashed Frozen mussels Frozen squids Asafoetida Cocoa beans Methyl alcohol Acetic acid Cut and polished diamonds Camera lens for cellular mobile phone Mobile phone chargers Wearable devices Heavy feed stocks for petroleum refining Steel With Union Budget 2022, Indian government will spend 39.45 trillion rupees ($529.7 billion) in the coming fiscal year to build public infrastructure and drive economic growth. total government spending in the 2022/23 fiscal year beginning in April will be 4.6% more than the current year. Also Read | Indian Union Budget 2022: Digital rupee to be introduced, virtual assets to be taxed at 30% Growth is estimated to be 9.2% for 2021/2022, coming off the low base and slowing to 8 to 8.5% in the coming fiscal year, still the fastest among the world`s major economies. (With inputs from agencies)

India Union Budget 2022: What gets costly, what will be cheaper

With Nirmala Sitharaman's budget presentation lasting for about one hour 31 minutes on Tuesday, the Indian Finance Minister's budget speech this year became the shortest ever since 2019.&nbsp;

Last year, Sitharaman's budget speech lasted for about one hour 48 minutes, while in 2020, it went on for 2 hours 40 minutes, which was the longest speech ever.&nbsp;

In the year before that, the speech was 2 hours 17 minutes long.&nbsp;

Sitharaman presented the Union Budget 2022-23 in the Lok Sabha today during the Budget Session of Parliament.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/india-union-budget-2022-markets-cheer-as-sensex-nifty-close-on-a-high-449555">India Union Budget 2022: Markets cheer as Sensex, Nifty close on a high</a>

The budget will lay the foundation for India's economic growth and expansion for the next 25 years, Finance Minister said while presenting the budget.&nbsp;

"This 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," Sitharaman said while presenting her fourth union budget.&nbsp;

She said India is in a strong position to withstand future challenges.&nbsp;

The Finance Minister said the government's focus will continue on boosting public investment to modernise infrastructure.&nbsp;

One of the priority areas of the government in the coming years would be the PM Gati Shakti programme.&nbsp;

Seven engines of the PM Gati Shakti initiative are roads, Railways, airports, ports, mass transport, waterways and logistics infra.&nbsp;

The Union Cabinet on Tuesday approved the Budget 2022-23 which was presented by Finance Minister Nirmala Sitharaman in Parliament.&nbsp;

The meeting began at around 10:20am (local time) ahead of the Budget presentation.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-nirmala-sitharaman-opts-for-orissa-handloom-saree-to-present-the-union-budget-2022-449433">Nirmala Sitharaman opts for Orissa handloom saree to present the Union Budget 2022</a>

Indian Prime Minister Narendra Modi, Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others were present at the Parliament for the Union Cabinet Meeting ahead of the Budget presentation.&nbsp;

Earlier today, Sitharaman met President Ram Nath Kovind ahead of the Budget presentation. She was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and other officials from the Ministry.&nbsp;

Amid the ongoing coronavirus pandemic, replacing her signature 'bahi khata', she opted to carry the documents in a tablet, which was wrapped in a red-coloured cover with the national emblem emblazoned on it.&nbsp;

WATCH |&nbsp;India Union Budget 2022: Will startups be the engine of jobs?

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&nbsp;

With Nirmala Sitharaman's budget presentation lasting for about one hour 31 minutes on Tuesday, the Indian Finance Minister's budget speech this year became the shortest ever since 2019.

With Nirmala Sitharaman's budget presentation lasting for about one hour 31 minutes on Tuesday, the Indian Finance Minister's budget speech this year became the shortest ever since 2019. Last year, Sitharaman's budget speech lasted for about one hour 48 minutes, while in 2020, it went on for 2 hours 40 minutes, which was the longest speech ever. In the year before that, the speech was 2 hours 17 minutes long. Sitharaman presented the Union Budget 2022-23 in the Lok Sabha today during the Budget Session of Parliament. ALSO READ | India Union Budget 2022: Markets cheer as Sensex, Nifty close on a high The budget will lay the foundation for India's economic growth and expansion for the next 25 years, Finance Minister said while presenting the budget. "This 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," Sitharaman said while presenting her fourth union budget. She said India is in a strong position to withstand future challenges. The Finance Minister said the government's focus will continue on boosting public investment to modernise infrastructure. One of the priority areas of the government in the coming years would be the PM Gati Shakti programme. Seven engines of the PM Gati Shakti initiative are roads, Railways, airports, ports, mass transport, waterways and logistics infra. The Union Cabinet on Tuesday approved the Budget 2022-23 which was presented by Finance Minister Nirmala Sitharaman in Parliament. The meeting began at around 10:20am (local time) ahead of the Budget presentation. ALSO READ | Nirmala Sitharaman opts for Orissa handloom saree to present the Union Budget 2022 Indian Prime Minister Narendra Modi, Defence Minister Rajnath Singh, Union Home Minister Amit Shah, Railways, Communications and IT Minister Ashwini Vaishnaw, Parliamentary Affairs Minister Pralhad Joshi, and others were present at the Parliament for the Union Cabinet Meeting ahead of the Budget presentation. Earlier today, Sitharaman met President Ram Nath Kovind ahead of the Budget presentation. She was accompanied by Ministers of State for Finance Pankaj Chaudhary, Bhagwat Karad and other officials from the Ministry. Amid the ongoing coronavirus pandemic, replacing her signature 'bahi khata', she opted to carry the documents in a tablet, which was wrapped in a red-coloured cover with the national emblem emblazoned on it. WATCH | India Union Budget 2022: Will startups be the engine of jobs? ×

Indian FM Sitharaman's Budget speech shortest since 2019, lasts for 91 minutes

Indian Prime Minister Narendra Modi hailed the Union Budget 2022 presented by finance minister Nirmala Sitharaman. He said that this will benefit the poor and create more growth and jobs for the country’s youth.

Union Budget 2022: Indian PM Modi hails this year's budget, calls it a budget for next 100 years

In the announcement of the Indian Union Budget 2022, Finance Minister (FM) Nirmala Sitharaman has shared several sops for farmers on Tuesday. &nbsp;&nbsp;

According to the FM, kisan drones will be used for crop assessment, land records and spraying of insecticides. It will drive a wave of technology in agriculture sector, the Sitharaman said. &nbsp;&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/indian-union-budget-2022-icai-asks-government-to-hike-annual-limit-for-contribution-to-ppf-to-rs-300000-449427" hreflang="en">Indian Union Budget 2022: ICAI asks government to hike annual limit for contribution to PPF to Rs 3,00,000</a>

Not just this, the Indian government will also pay Rs 2.37 trillion towards procurement of wheat and paddy under MSP operations. The implementation of Ken-Betwa rivers linking with estimated cost of Rs 446.05 billion will also be taken up. All of these initiatives will provide a major boost to the farmers around the country. &nbsp;

The government has also announced a rationalised scheme to increase domestic oilseed production, which will be brought in to cut down imports. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/live-budget-2022-updates-fm-nirmala-sitharamans-begins-her-fourth-union-budget-speech-449407" hreflang="en">LIVE Budget 2022 Updates: Highways to growth, lifeline for hotels, farm sops in Budget so far</a>

The FM also said that 2022-23 has been announced as International Year of Millets. &nbsp;

The railways will also develop new products for small farmers and MSMEs, as per the minister. &nbsp;

She also noted that efforts of central and state governments are leading to jobs and entrepreneurial opportunities. &nbsp;

She also said that national highways will be extended by 25,000 km during 2022-23. &nbsp;

(With inputs from agencies)&nbsp;

In the announcement of the Indian Union Budget 2022, Finance Minister (FM) Nirmala Sitharaman has shared several sops for farmers on Tuesday. According to the FM, kisan drones will be used for crop assessment, land records and spraying of insecticides.

In the announcement of the Indian Union Budget 2022, Finance Minister (FM) Nirmala Sitharaman has shared several sops for farmers on Tuesday. According to the FM, kisan drones will be used for crop assessment, land records and spraying of insecticides. It will drive a wave of technology in agriculture sector, the Sitharaman said. Also Read: Indian Union Budget 2022: ICAI asks government to hike annual limit for contribution to PPF to Rs 3,00,000 Not just this, the Indian government will also pay Rs 2.37 trillion towards procurement of wheat and paddy under MSP operations. The implementation of Ken-Betwa rivers linking with estimated cost of Rs 446.05 billion will also be taken up. All of these initiatives will provide a major boost to the farmers around the country. The government has also announced a rationalised scheme to increase domestic oilseed production, which will be brought in to cut down imports. Also Read: LIVE Budget 2022 Updates: Highways to growth, lifeline for hotels, farm sops in Budget so far The FM also said that 2022-23 has been announced as International Year of Millets. The railways will also develop new products for small farmers and MSMEs, as per the minister. She also noted that efforts of central and state governments are leading to jobs and entrepreneurial opportunities. She also said that national highways will be extended by 25,000 km during 2022-23. (With inputs from agencies)

Indian Union Budget 2022: Finance Minister announces kisan drones in boost to agriculture sector

To provide a boost to the coronavirus-ravaged economy, the Indian Finance Minister Nirmala Sitharaman presented the annual Union Budget for the year 2022-2023 in Parliament on Tuesday (February 1).&nbsp;

The budget was paperless - just like last year and it is now 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;

This year, the budget was read from Made in India tablet.&nbsp;Sitharaman was carrying the&nbsp;tablet kept inside a red coloured cover with a golden coloured national emblem embossed on it instead of the briefcase or 'bahi khata'.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/union-budget-2022-indias-finance-minister-sitharaman-says-growth-expected-at-92-449432">Union Budget 2022: India's Finance Minister Sitharaman says growth expected at 9.2%</a>

This was also seen as an attempt to go green and also to minimise physical contact amid the coronavirus COVID-19 pandemic.&nbsp;

In a historic move, the Union Budget 2021 was presented in a digital format for the first time to promote the Government of India's (GoI) Digital India flagship programme.

Sitharaman in 2019, ditched the longstanding tradition of carrying a briefcase and went 'Swadeshi' to replaced the briefcase with the traditional 'bahi khata' saying that the Modi government was not a 'suitcase-carrying government'.&nbsp;

The tradition of carrying the Budget briefcase was a copy of the 'Gladstone box', used in the British Budget. In 1860, the then British budget chief William E Gladstone used a red suitcase with Queen's monogram embossed in gold to carry his documents, which came to be known as the 'Gladstone Box'.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/entertainment/lifestyle/news-nirmala-sitharaman-opts-for-orissa-handloom-saree-to-present-the-union-budget-2022-449433">Nirmala Sitharaman opts for Orissa handloom saree to present the Union Budget 2022</a>

In 1947, India's first Finance Minister RK Shanmukham Chetty carried a leather portfolio to present the first Budget.

Before Nirmala Sitharaman, a long standing tradition in connection with the Budget presentation was broken during the Atal Bihari Vajpayee government with the then Finance Minister Yashwant Sinha presenting the Budget at 11am (local time) instead of the traditional time of 5pm (local time).&nbsp;

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(With inputs from agencies)

To provide a boost to the coronavirus-ravaged economy, the Indian Finance Minister Nirmala Sitharaman presented the annual Union Budget for the year 2022-2023 in Parliament on Tuesday (February 1).

To provide a boost to the coronavirus-ravaged economy, the Indian Finance Minister Nirmala Sitharaman presented the annual Union Budget for the year 2022-2023 in Parliament on Tuesday (February 1). The budget was paperless - just like last year and it is now 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. This year, the budget was read from Made in India tablet. Sitharaman was carrying the tablet kept inside a red coloured cover with a golden coloured national emblem embossed on it instead of the briefcase or 'bahi khata'. ALSO READ | Union Budget 2022: India's Finance Minister Sitharaman says growth expected at 9.2% This was also seen as an attempt to go green and also to minimise physical contact amid the coronavirus COVID-19 pandemic. In a historic move, the Union Budget 2021 was presented in a digital format for the first time to promote the Government of India's (GoI) Digital India flagship programme. Sitharaman in 2019, ditched the longstanding tradition of carrying a briefcase and went 'Swadeshi' to replaced the briefcase with the traditional 'bahi khata' saying that the Modi government was not a 'suitcase-carrying government'. The tradition of carrying the Budget briefcase was a copy of the 'Gladstone box', used in the British Budget. In 1860, the then British budget chief William E Gladstone used a red suitcase with Queen's monogram embossed in gold to carry his documents, which came to be known as the 'Gladstone Box'. ALSO READ | Nirmala Sitharaman opts for Orissa handloom saree to present the Union Budget 2022 In 1947, India's first Finance Minister RK Shanmukham Chetty carried a leather portfolio to present the first Budget. Before Nirmala Sitharaman, a long standing tradition in connection with the Budget presentation was broken during the Atal Bihari Vajpayee government with the then Finance Minister Yashwant Sinha presenting the Budget at 11am (local time) instead of the traditional time of 5pm (local time). × (With inputs from agencies)

From 'Bahi Khata' to 'Made in India' tablet: Reflection of Digital India during Budget 2022

In Indian Union Budget 2022 speech, Finance Minister Nirmala Sitharaman said that India will develop and launch a digital currency. The central bank of the country, Reserve Bank of India, will come up with it by 2023. It will be based on blockchain technology. It will bring clarity to the cryptocurrency world.

India's RBI to launch digital currency

Indian Finance Minister Sitharaman further spoke about strengthening of health infra and speedy vaccination program. In response to the current view of COVID 19, let's listen to her.

Budget 2022: FM Sitharaman lays emphasis on strengthening health Infra with Speedy Vaccine Program

In the Indian Union Budget 2022 announcement on Tuesday, Finance Minister (FM) Nirmala Sitharaman has said that Reserve Bank of India (RBI) is planning to develop a digital rupee, which will be based on blockchain technology, in 2023. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/indian-union-budget-2022-5g-airwaves-auction-to-be-held-in-2022-says-finance-minister-449471">Indian Union Budget 2022: 5G airwaves auction to be held in 2022, says FM</a>

According to the Indian finance minister, digital currency will also lead to a more efficient and cheaper currency management system. “It is therefore proposed to introduce digital rupee using blockchain and other technology to be issued by the Reserve Bank of India starting, 2022 and 2023,” said Sitharaman. &nbsp;

To bring digital assets under the tax net, any income from these will be taxed at 30%, added the&nbsp;finance minister.

Also Read:&nbsp;<a href="https://www.wionews.com/india-news/indian-union-budget-2022-finance-minister-announces-kisan-drones-in-boost-to-agriculture-sector-449449" hreflang="en">Indian Union Budget 2022: FM announces kisan drones in boost to agri sector</a>

She also stated that any losses incurred as a result of these assets cannot be offset against other gains.

She has also proposed a one per cent TDS (tax deducted at source) on transactions in such asset classes above a certain threshold.&nbsp;

Watch | India Budget 2022: Finance Minister Nirmala Sitharaman presents her fourth Union Budget

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Gifts of digital assets will be taxed in the hands of the recipient, according to the FM.

(With inputs from agencies) &nbsp;

In the Indian Union Budget 2022 announcement on Tuesday, Finance Minister (FM) Nirmala Sitharaman has said that Reserve Bank of India (RBI) is planning to develop a digital rupee, which will be based on blockchain technology, in 2023.

In the Indian Union Budget 2022 announcement on Tuesday, Finance Minister (FM) Nirmala Sitharaman has said that Reserve Bank of India (RBI) is planning to develop a digital rupee, which will be based on blockchain technology, in 2023. Also Read: Indian Union Budget 2022: 5G airwaves auction to be held in 2022, says FM According to the Indian finance minister, digital currency will also lead to a more efficient and cheaper currency management system. “It is therefore proposed to introduce digital rupee using blockchain and other technology to be issued by the Reserve Bank of India starting, 2022 and 2023,” said Sitharaman. To bring digital assets under the tax net, any income from these will be taxed at 30%, added the finance minister. Also Read: Indian Union Budget 2022: FM announces kisan drones in boost to agri sector She also stated that any losses incurred as a result of these assets cannot be offset against other gains. She has also proposed a one per cent TDS (tax deducted at source) on transactions in such asset classes above a certain threshold. Watch | India Budget 2022: Finance Minister Nirmala Sitharaman presents her fourth Union Budget × Gifts of digital assets will be taxed in the hands of the recipient, according to the FM. (With inputs from agencies)

Indian Union Budget 2022: Digital rupee to be introduced, virtual assets to be taxed at 30%  

A host of announcements have been made by FM Nirmala Sitharaman during the presentation of India's Union Budget 2022. To talk all that and much more, today we are joined by our guests. FM mentioned the importance of startups and creating jobs do you think they are the engine of growth as far as jobs are concerned now.

India Union Budget 2022: Will startups be the engine of jobs?

E passports- a scheme has been announced for the first time using embedded ships is to be rolled out in 2022-23 one of the main things. Also, 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.

Union Budget 2022: E-Passports using embedded chips to be rolled out in 2022-23

Union Budget 2022: Daniel Lacalle, Chief Economist at Tressis in an exclusive conversation with WION analyses the hallmark of India's Union Budget 2022.

Government's major focus lays on MSME's, startups | Daniel Lacalle exclusive on Union Budget 2022

Indian finance minister Sitharaman presented the annual union budget for the year 2022-2023 in the parliament New Delhi. In her opening remarks, Sitharaman said that India's growth is estimated to be at 9.2 percent, the highest among all large economies as the nation is now in a strong position to withstand challenges such as coronavirus.

Indian FM Nirmala Sitharaman presents Union Budget 2022, here are key takeaways

Finance Minister Nirmala Sitharaman presented her fourth Union Budget today. She said the Budget aims to lay the path for reforms over the next 25 years. But will this budget address the needs of foreign investors?

India: Does this budget address the need of foreign investors?

Finance Minister Nirmala Sitharaman announced that Special Economic Zones (SEZ) Act will be replaced with new legislation. She said that the move aimed "for the development of enterprise and hubs".

India Budget 2022: We will undertake reforms in customs administration of SEZ - Nirmala Sitharaman

Among the host of announcements, this morning FM, of India addressed concerns of the MSME sector. Finance minister Sitharaman in a budget speech, today said raising and accelerating MSME performance will be rolled out in the coming five years.

India Budget 2022: Program would improve the competitiveness and productivity of MSMEs

India's budget for 2022 gives a blueprint of the economy for the next 25 years. With a key focus on four main pillars of development, i.e., inclusive development, productivity enhancement, energy transition, and climate action.

India Budget 2022: 4 main pillars of development highlighted

WION talks to Narayan Shroff, Investment Head at Barclays, Mumbai. Watch this report to know his reaction to the Union Budget 2022.

India Budget 2022: Budget continues to provide an impetus for growth

India's Finance Minister Nirmala Sitharaman will present the Budget 2022-23 on Tuesday (February 1) with different sectors hoping that the government would give some relaxation in taxation, providing ease of doing business amid onslaughts of coronavirus (COVID-19) pandemic.&nbsp;

Health and education are some of the sectors that are expecting significant announcements... so is the electric vehicle (EV)&nbsp;sector.&nbsp;

Amid the climate crisis, the EV&nbsp;sector can promise a future that is cleaner and the government needs to promote the benefits of electric vehicles. But there is a range of issues that the industry is facing. Here are some of the expectations that the EV sector from the Budget 2022-2023.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/what-start-ups-in-india-can-expect-from-countrys-union-budget-2022-23-449295">What start-ups in India can expect from country's Union Budget 2022-23?</a>

The sector would expect the government to create a robust infrastructure that supports the electrification of large vehicles and feasible charging infrastructure.&nbsp;

The industry would expect tax relaxations and would also hope that the government would give a boost to local manufacturing of battery technology, access to raw materials, skilled labour, etc. It is also a task for the government to speed up the battery cell localisation in the country.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/indias-union-budget-2022-will-be-available-on-mobile-app-heres-how-to-download-on-android-and-ios-448501">India's Union Budget 2022 will be available on mobile app: Here's how to download on Android and iOS</a>

The manufacturers might also expect to reduce dependency on imports. The sector also needs attention over the inverted duty structure as experts have revealed that the imported components are not strictly as per the Indian conditions.&nbsp;

Sitharaman would use the Budget as the cornerstone to put the economy on an accelerated growth path after the impact caused by the pandemic.&nbsp;

It is expected that there will be amendments in the tax law to bring about sustainable growth, infrastructure investment, focus on R&amp;D spending, nurturing incentives to the core sectors.&nbsp;

WATCH WION's analysis&nbsp;|&nbsp;India's Budget 2022 with Gautam Chikermane: Taxation, investments and stock markets

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Deepak MV, who is the CEO and co-founder of Etrio was quoted as saying by India-based news channel ABP: "At a time when EV adoption is gaining unprecedented momentum despite many challenges, in the upcoming Union Budget 2022, we at Etrio would like to see the finance minister address the critically-important area of making a wide and varied range of financing options available for EV commercial vehicles' buyers – as this is extremely critical for further increased uptake of EVs in India, going forward." &nbsp;

(With inputs from agencies)

India's Finance Minister Nirmala Sitharaman will present the Budget 2022-23 on Tuesday (February 1) with different sectors hoping that the government would give some relaxation in taxation, providing ease of doing business amid onslaughts of coronavirus (COVID-19) pandemic.

India's Finance Minister Nirmala Sitharaman will present the Budget 2022-23 on Tuesday (February 1) with different sectors hoping that the government would give some relaxation in taxation, providing ease of doing business amid onslaughts of coronavirus (COVID-19) pandemic. Health and education are some of the sectors that are expecting significant announcements... so is the electric vehicle (EV) sector. Amid the climate crisis, the EV sector can promise a future that is cleaner and the government needs to promote the benefits of electric vehicles. But there is a range of issues that the industry is facing. Here are some of the expectations that the EV sector from the Budget 2022-2023. ALSO READ | What start-ups in India can expect from country's Union Budget 2022-23? The sector would expect the government to create a robust infrastructure that supports the electrification of large vehicles and feasible charging infrastructure. The industry would expect tax relaxations and would also hope that the government would give a boost to local manufacturing of battery technology, access to raw materials, skilled labour, etc. It is also a task for the government to speed up the battery cell localisation in the country. ALSO READ | India's Union Budget 2022 will be available on mobile app: Here's how to download on Android and iOS The manufacturers might also expect to reduce dependency on imports. The sector also needs attention over the inverted duty structure as experts have revealed that the imported components are not strictly as per the Indian conditions. Sitharaman would use the Budget as the cornerstone to put the economy on an accelerated growth path after the impact caused by the pandemic. It is expected that there will be amendments in the tax law to bring about sustainable growth, infrastructure investment, focus on R&D spending, nurturing incentives to the core sectors. WATCH WION's analysis | India's Budget 2022 with Gautam Chikermane: Taxation, investments and stock markets × Deepak MV, who is the CEO and co-founder of Etrio was quoted as saying by India-based news channel ABP: "At a time when EV adoption is gaining unprecedented momentum despite many challenges, in the upcoming Union Budget 2022, we at Etrio would like to see the finance minister address the critically-important area of making a wide and varied range of financing options available for EV commercial vehicles' buyers – as this is extremely critical for further increased uptake of EVs in India, going forward." (With inputs from agencies)

Will India's Union Budget 2022 live up to the expectations of EV industry?

To give a boost to the gems & jewellery sector customs duty on cut and polished diamonds and gemstones is being reduced to five per cent, says Finance Minister Nirmala Sitharaman.

India Budget 2022: Customs duty on cut and polished diamonds, gems to be reduced to 5% - Nirmala Sitharaman

In a big boost to the economy, the digital rupee - using blockchain and other technology - will be introduced by the central bank in 2022-23, Finance Minister Nirmala Sitharaman.

Indian Budget 2022: Digital Rupee to be issued using blockchain and other technologies - Nirmala Sitharaman

During the speech for Indian Union Budget 2022-23 in parliament on Tuesday, Finance Minister (FM) Nirmala Sitharaman said that the country will auction 5G airwaves this year. It will bring about a roll out of the next-generation telecoms service in 2022-23.&nbsp; &nbsp;

"Spectrum auctions will be conducted in 2022 to facilitate the roll-out of 5G mobile services within 2022-23 by private telecom providers," Sitharaman said.&nbsp;

The telecommunications sector in general and 5G, in particular, can enable growth and offer job opportunities, she added. &nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/indian-union-budget-2022-digital-rupee-to-be-introduced-virtual-assets-to-be-taxed-at-30-449464" hreflang="en">Indian Budget: Digital rupee to be introduced, virtual assets to be taxed</a>

"A scheme for design-led manufacturing will be launched to build a strong ecosystem for 5G as part of the production-linked incentive scheme," the FM said.&nbsp;

To enable affordable broadband and mobile services in rural and remote areas, five per cent of annual collections under the universal service obligation fund will be allocated, she said. &nbsp;

"This will promote R&amp;D and commercialisation of technologies and solutions. Our mission is that all villages and their residents should have the same access to e-services, communication facilities and digital resources as urban areas and their residents," the FM said.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/indian-union-budget-2022-finance-minister-announces-kisan-drones-in-boost-to-agriculture-sector-449449" hreflang="en">Indian Union Budget 2022: FM announces kisan drones in boost to agri sector</a>

The contract for laying optical fibre in all villages will be awarded through the BharatNet project in PPP mode in 2022-23, the minister added.&nbsp;

"Completion is expected in 2025. Measures will be taken to enable better and more efficient use of the optical fibre," the FM said.&nbsp;&nbsp;

(With inputs from agencies)&nbsp;

During the speech for Indian Union Budget 2022-23 in parliament on Tuesday, Finance Minister (FM) Nirmala Sitharaman said that the country will auction 5G airwaves this year.

During the speech for Indian Union Budget 2022-23 in parliament on Tuesday, Finance Minister (FM) Nirmala Sitharaman said that the country will auction 5G airwaves this year. It will bring about a roll out of the next-generation telecoms service in 2022-23. "Spectrum auctions will be conducted in 2022 to facilitate the roll-out of 5G mobile services within 2022-23 by private telecom providers," Sitharaman said. The telecommunications sector in general and 5G, in particular, can enable growth and offer job opportunities, she added. Also Read | Indian Budget: Digital rupee to be introduced, virtual assets to be taxed "A scheme for design-led manufacturing will be launched to build a strong ecosystem for 5G as part of the production-linked incentive scheme," the FM said. To enable affordable broadband and mobile services in rural and remote areas, five per cent of annual collections under the universal service obligation fund will be allocated, she said. "This will promote R&D and commercialisation of technologies and solutions. Our mission is that all villages and their residents should have the same access to e-services, communication facilities and digital resources as urban areas and their residents," the FM said. Also Read | Indian Union Budget 2022: FM announces kisan drones in boost to agri sector The contract for laying optical fibre in all villages will be awarded through the BharatNet project in PPP mode in 2022-23, the minister added. "Completion is expected in 2025. Measures will be taken to enable better and more efficient use of the optical fibre," the FM said. (With inputs from agencies)

Indian Union Budget: 5G airwaves auction to be held in 2022, says finance minister

The policies and required legislative changes to promote agroforestry and private forestry will be brought in, financial support will be provided to farmers belonging to SC/STs who want to take up agroforestry.

FM Nirmala Sitharaman presents Union Budget 2022: Modi government's big push for agroforestry

Indian FM Nirmala Sitharamn said that "the government will conduct a spectrum auction this year, which will facilitate the roll-out of 5G services by private telecom operators during the financial year 2022-23".

Indian FM Nirmala Sitharaman announces 5G spectrum auction rollout

Ahead of India's Budget Session, the country's Prime Minister Narendra Modi urged the Members of Parliament (MPs) to hold discussions with an open mind, aiming to take the country on the path of development.&nbsp;

During his address on Monday (January 31) PM Modi also said that the Budget Session will be made as fruitful as possible.

"The more fruitful we make this session, the better opportunity there would be in the coming year to take the country to new economic heights," he said.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/halwa-ceremony-coronavirus-forces-india-to-drop-a-customary-tradition-ahead-of-budget-2022-presentation-448470">Halwa ceremony: Coronavirus forces India to drop a customary tradition ahead of Budget 2022 presentation</a>

This session instils confidence in the world regarding India's economic progress, vaccination programme, Made in India vaccines. "In this session too, discussions, issues of discussions and open-minded debates can become an important opportunity for global impact."

This year's budget and the budget session in the Parliament is crucial as it comes ahead of assembly polls in five states - Uttar Pradesh, Punjab, Manipur, Uttarakhand, Goa.&nbsp;

"True that polls affect sessions and debates. But I request all MPs that elections will go on but Budget Session draws a blueprint for an entire year and therefore, it is very important," PM Modi said.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/indias-union-budget-2022-will-be-available-on-mobile-app-heres-how-to-download-on-android-and-ios-448501">India's Union Budget 2022 will be available on mobile app: Here's how to download on Android and iOS</a>

With the Budget Session of Parliament commencing on Monday, the government is all set to lay Economic Survey 2021-22 along with Statistical Appendix in both Houses.&nbsp;

Economic Survey 2021-22 and the Statistical Appendix will be laid on the table of the Lok Sabha at around 12.45pm (local time) by India's Finance Minister Nirmala Sitharaman. While it will be tabled in Upper House a few minutes after the House assembles at 2.30pm (local time).&nbsp;

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Speaking at the start of the Budget Session. <a href="https://t.co/nijuHzfoIm">https://t.co/nijuHzfoIm</a>
— Narendra Modi (@narendramodi) <a href="https://twitter.com/narendramodi/status/1488016087253876736?ref_src=twsrc%5Etfw">January 31, 2022</a></blockquote>
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Ahead of India's Budget Session, the country's Prime Minister Narendra Modi urged the Members of Parliament (MPs) to hold discussions with an open mind, aiming to take the country on the path of development.

Ahead of India's Budget Session, the country's Prime Minister Narendra Modi urged the Members of Parliament (MPs) to hold discussions with an open mind, aiming to take the country on the path of development. During his address on Monday (January 31) PM Modi also said that the Budget Session will be made as fruitful as possible. "The more fruitful we make this session, the better opportunity there would be in the coming year to take the country to new economic heights," he said. ALSO READ | Halwa ceremony: Coronavirus forces India to drop a customary tradition ahead of Budget 2022 presentation This session instils confidence in the world regarding India's economic progress, vaccination programme, Made in India vaccines. "In this session too, discussions, issues of discussions and open-minded debates can become an important opportunity for global impact." This year's budget and the budget session in the Parliament is crucial as it comes ahead of assembly polls in five states - Uttar Pradesh, Punjab, Manipur, Uttarakhand, Goa. "True that polls affect sessions and debates. But I request all MPs that elections will go on but Budget Session draws a blueprint for an entire year and therefore, it is very important," PM Modi said. ALSO READ | India's Union Budget 2022 will be available on mobile app: Here's how to download on Android and iOS With the Budget Session of Parliament commencing on Monday, the government is all set to lay Economic Survey 2021-22 along with Statistical Appendix in both Houses. Economic Survey 2021-22 and the Statistical Appendix will be laid on the table of the Lok Sabha at around 12.45pm (local time) by India's Finance Minister Nirmala Sitharaman. While it will be tabled in Upper House a few minutes after the House assembles at 2.30pm (local time). Speaking at the start of the Budget Session. https://t.co/nijuHzfoIm — Narendra Modi (@narendramodi) January 31, 2022 ×

Ahead of India's Budget Session 2022, PM Narendra Modi urges MPs to discuss with open mind

India's Finance Minister Nirmala Sitharaman will present the Budget 2022-23 on Tuesday (February 1) as the country is reviving from the onslaughts of the ongoing coronavirus (COVID-19) pandemic.

India's Finance Minister Nirmala Sitharaman will present the Budget 2022-23 on Tuesday (February 1) as the country is reviving from the onslaughts of the ongoing coronavirus (COVID-19) pandemic. As the Indian government continues to put efforts to recover from the pandemic-caused losses, the country's economy is showing strong signs of recovery and has again emerged as among the fastest-growing economies in the world. In simple terms, a budget is a financial plan for a defined period, often one year. It is the sum of finances allocated for a particular purpose and the summary of intended expenditures along with proposals for how to meet them. ALSO READ | India's Union Budget 2022 will be available on mobile app: Here's how to download on Android and iOS Ahead of the Budget presentation, here's a report on expenditure and revenue budgets. Expenditure budget: The allocation of funds for disbursement to various ministries, departments and sectors is the Expenditure Budget. Revenue budget: It consists of revenue receipts of the government and the expenditure met from these revenues. Revenues are made up of taxes and other duties that the government levies. WATCH WION's analysis | India's Budget 2022 with Gautam Chikermane: Taxation, investments and stock markets × In this year's budget, the customary 'halwa ceremony' to mark the final stage of the budget-making exercise was not held due to the Covid protocols. Instead, the government distributed packed sweets among the core staff members involved in the budget-making. 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.

India Union Budget 2022: What are expenditure and revenue budgets?

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