The Nepal government on Sunday announces its annual budget of Rs 1.793 trillion for the fiscal year 2022-23, highlighting 'Make in Nepal’ and ‘Made in Nepal’ campaigns as rising imports increase the country’s economic vulnerability.&nbsp;

Presenting the budget at the joint session of the parliament, Finance Minister Janardan Sharma said the budget’s main focus is on inclusive development, inflation control, providing adequate resources to subnational governments, and a self-reliant economy.&nbsp;

“The programs run by the private sector like ‘Make in Nepal’ and ‘Made in Nepal’ will be supported by the government. Provisions made for the use of domestic products in government and public offices,” Sharma said.&nbsp;

“Venture capital to be promoted and funds to be established for the promotion of manufacturing industries. Nepal government will promote Made in Nepal companies,” he added.&nbsp;

The government has set aside Rs 753 billion of the total budget for recurrent expenditure, while Rs 380 billion has been allocated for capital expenditure. Likewise, Rs 230.22 billion has been allocated for other financial purposes.&nbsp;

“The government will focus on production and agriculture to decrease imports by 20 per cent. A national campaign will be launched to increase agriculture production to achieve self-reliance,” the minister said.&nbsp;

Out of the allocated expenditure, the government has targeted to finance Rs 1.240 trillion through revenue mobilisation. For the rest of the amount, the government will go for domestic borrowing of Rs 256 billion and is expected to rake in Rs 242.26 billion through foreign loans and Rs 55.46 billion from foreign grants.

Amid the critical economic situation, the government has targeted to achieve an ambitious economic growth rate of 8 per cent for the next fiscal year, compared to the initial target of 6.5 per cent for the current fiscal year.&nbsp;

At a time when the government is being criticised for its inefficiency in controlling the inflationary pressure, Finance Minister Sharma assured to rein inflation within the 7 per cent limit.&nbsp;

The Nepal government has pledged to increase employment by 30 per cent annually.&nbsp;

Following the impact on the tourism sector for the last two years, the incumbent government has set a target of attracting 1 million tourists in the upcoming fiscal year and allocated Rs 9.38 billion to the tourism sector.&nbsp;

A mountaineering research centre would be set up in the Mt Everest region, while Rs 330 million has been allocated for the construction of the Great Himalayan Trail.&nbsp;

Both Gautam Buddha International Airport and Pokhara Regional International Airport will be made with China’s support, and it will be brought into a full-fledged operation.&nbsp;

The Nepal government on Sunday announces its annual budget of Rs 1.793 trillion for the fiscal year 2022-23, highlighting 'Make in Nepal’ and ‘Made in Nepal’ campaigns as rising imports increase the country’s economic vulnerability.

The Nepal government on Sunday announces its annual budget of Rs 1.793 trillion for the fiscal year 2022-23, highlighting 'Make in Nepal’ and ‘Made in Nepal’ campaigns as rising imports increase the country’s economic vulnerability. Presenting the budget at the joint session of the parliament, Finance Minister Janardan Sharma said the budget’s main focus is on inclusive development, inflation control, providing adequate resources to subnational governments, and a self-reliant economy. “The programs run by the private sector like ‘Make in Nepal’ and ‘Made in Nepal’ will be supported by the government. Provisions made for the use of domestic products in government and public offices,” Sharma said. “Venture capital to be promoted and funds to be established for the promotion of manufacturing industries. Nepal government will promote Made in Nepal companies,” he added. The government has set aside Rs 753 billion of the total budget for recurrent expenditure, while Rs 380 billion has been allocated for capital expenditure. Likewise, Rs 230.22 billion has been allocated for other financial purposes. “The government will focus on production and agriculture to decrease imports by 20 per cent. A national campaign will be launched to increase agriculture production to achieve self-reliance,” the minister said. Out of the allocated expenditure, the government has targeted to finance Rs 1.240 trillion through revenue mobilisation. For the rest of the amount, the government will go for domestic borrowing of Rs 256 billion and is expected to rake in Rs 242.26 billion through foreign loans and Rs 55.46 billion from foreign grants. Amid the critical economic situation, the government has targeted to achieve an ambitious economic growth rate of 8 per cent for the next fiscal year, compared to the initial target of 6.5 per cent for the current fiscal year. At a time when the government is being criticised for its inefficiency in controlling the inflationary pressure, Finance Minister Sharma assured to rein inflation within the 7 per cent limit. The Nepal government has pledged to increase employment by 30 per cent annually. Following the impact on the tourism sector for the last two years, the incumbent government has set a target of attracting 1 million tourists in the upcoming fiscal year and allocated Rs 9.38 billion to the tourism sector. A mountaineering research centre would be set up in the Mt Everest region, while Rs 330 million has been allocated for the construction of the Great Himalayan Trail. Both Gautam Buddha International Airport and Pokhara Regional International Airport will be made with China’s support, and it will be brought into a full-fledged operation.

Nepal announces annual budget of Rs 1.793 trillion for 2022-23

New Zealand's Prime Minister Jacinda Ardern seems to have lost her sense of taste after contacting COVID-19.

The Prime Minister has been in isolation following the positive test, due to which she was absent from the country's budget announcement, the most important day of the political year.

Also read |&nbsp;<a href="https://www.wionews.com/world/covid-19-new-zealand-prime-minister-jacinda-ardern-tests-positive-for-infection-478881">COVID-19: New Zealand Prime Minister Jacinda Ardern tests positive for infection</a>

Addressing the parliament via video link, Ardern Saud that her “virtual presence in the debating chamber is obviously not to my preference on such a significant day.”

Even as she missed out on the parliamentary proceedings Ardern kept up the traditional breakfast with the Finance Minister.&nbsp;

On budget day in New Zealand, the Prime Minister has an early morning breakfast with Grant Robertson the finance minister. This breakfast consists of a South Island New Zealand delicacy: Cheese rolls.

This year due to covid, the NZ Prime Minister fulfilled the tradition via an Instagram live stream, during which she commented that she knows that the cheese rolls are going to taste good but she won't know, as she has lost all her sense of taste.&nbsp;

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Prime Minister Jacinda Ardern tested positive for COVID-19 on Saturday, with mild symptoms, according to her office.

As per the&nbsp;statement, Ardern had been unwell since Friday evening, with a faint positive at night and a definite positive on a fast antigen test on Saturday morning.

Due to the positive test, Ardern is expected to isolate herself until the morning of May 21, performing whatever duties she can remotely.

Also read |&nbsp;<a href="https://www.wionews.com/photos/new-zealand-welcomes-australian-visitors-with-warm-hugs-tears-and-maori-performers-475644">New Zealand welcomes Australian visitors with warm hugs, tears and Maori performers</a>

To ease the cost-of-living crisis, the budget included $1bn in temporary measures, including cash payments, tax cuts for petrol and half-price transit.&nbsp;

Despite the limitations of temporary fast relief, Ardern believes it can make a real difference.&nbsp;

The lion's share of Thursday's budget; $11.1 billion was earmarked for healthcare reform and funding to combat climate change.

(With inputs from agencies)

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New Zealand's Prime Minister Jacinda Ardern seems to have lost her sense of taste after contacting COVID-19. The Prime Minister has been in isolation following the positive test, due to which she was absent from the country's budget announcement, the most important day of the political year.

New Zealand's Prime Minister Jacinda Ardern seems to have lost her sense of taste after contacting COVID-19. The Prime Minister has been in isolation following the positive test, due to which she was absent from the country's budget announcement, the most important day of the political year. Also read | COVID-19: New Zealand Prime Minister Jacinda Ardern tests positive for infection Addressing the parliament via video link, Ardern Saud that her “virtual presence in the debating chamber is obviously not to my preference on such a significant day.” Even as she missed out on the parliamentary proceedings Ardern kept up the traditional breakfast with the Finance Minister. On budget day in New Zealand, the Prime Minister has an early morning breakfast with Grant Robertson the finance minister. This breakfast consists of a South Island New Zealand delicacy: Cheese rolls. This year due to covid, the NZ Prime Minister fulfilled the tradition via an Instagram live stream, during which she commented that she knows that the cheese rolls are going to taste good but she won't know, as she has lost all her sense of taste. Watch | New Zealand: Increasing sales of electric vehicles tops agenda Prime Minister Jacinda Ardern tested positive for COVID-19 on Saturday, with mild symptoms, according to her office. As per the statement, Ardern had been unwell since Friday evening, with a faint positive at night and a definite positive on a fast antigen test on Saturday morning. Due to the positive test, Ardern is expected to isolate herself until the morning of May 21, performing whatever duties she can remotely. Also read | New Zealand welcomes Australian visitors with warm hugs, tears and Maori performers To ease the cost-of-living crisis, the budget included $1bn in temporary measures, including cash payments, tax cuts for petrol and half-price transit. Despite the limitations of temporary fast relief, Ardern believes it can make a real difference. The lion's share of Thursday's budget; $11.1 billion was earmarked for healthcare reform and funding to combat climate change. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Budget day finds New Zealand's PM isolated, reporting a loss of taste after testing positive for covid

Sri Lanka plans to replace its current "unrealistic" budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the country's finance minister said on Wednesday.

Sri Lanka Crisis: Colombo to replace 'unrealistic' budget, in talks to extend World Bank aid

The White House has requested allocation of &nbsp;USD 26 billion for NASA in the year 2023. If passed, these funda will be USD 2 billion more than what NASA received in the current fiscal year.

The budget would enable NASA to fund Artemis moon landings, Earth science, address climate change, drive economic growth, and more as the agency aims to send people to Mars by 2040, NASA officials said.

"Greater than a number, statistic, or fact is what the President's budget request represents," NASA Administrator Bill Nelson said, in a statement.

"This budget reflects the Biden-Harris Administration's confidence in the extraordinary workforce that makes NASA the best place to work in the federal government.

"It's an investment in the businesses and universities that partner with NASA in all 50 states and the good-paying jobs they are creating. It's a signal of support for our missions in a new era of exploration and discovery," Nelson said.

As per the proposed budget, USD 7.6 billion have been allocated for deep space exploration. &nbsp;Through Artemis missions, NASA will land the first woman and person of colour on the lunar surface, deepen the US' scientific understanding of the Moon, and test technologies that will prepare for human exploration of Mars.

About $4.7 billion is for Common Exploration Systems Development to support lunar missions which includes funding for the Orion spacecraft and Space Launch System (SLS). The budget's $1.5 billion for astronaut Moon landers will enable NASA to increase competition in the development of the final mode of transportation needed to take astronauts to the lunar surface.

With $2.4 billion allocated for Earth-observing satellites and related research, the budget will increase NASA's Earth science funding for climate and weather monitoring and measurement.

NASA also aims to support commercial space activities. The budget's $1.4 billion for space technology research and development will support new technologies to help the US commercial space industry grow, enhance mission capabilities, create good-paying jobs, and reduce costs.

About $970 million has been allocated for aeronautics research. This includes $500 million to reduce aviation's climate impact through efforts including a Sustainable Flight National Partnership to develop a next-generation passenger aircraft.

With $150 million for the Office of STEM Engagement for education and engagement activities, this budget would allow NASA to enhance its support for educational activities, including those that focus on historically underserved communities.

(With inputs from agencies) 
&nbsp;

The White House has requested allocation of USD 26 billion for NASA in the year 2023. If passed, these funda will be USD 2 billion more than what NASA received in the current fiscal year.

The White House has requested allocation of USD 26 billion for NASA in the year 2023. If passed, these funda will be USD 2 billion more than what NASA received in the current fiscal year. The budget would enable NASA to fund Artemis moon landings, Earth science, address climate change, drive economic growth, and more as the agency aims to send people to Mars by 2040, NASA officials said. "Greater than a number, statistic, or fact is what the President's budget request represents," NASA Administrator Bill Nelson said, in a statement. "This budget reflects the Biden-Harris Administration's confidence in the extraordinary workforce that makes NASA the best place to work in the federal government. "It's an investment in the businesses and universities that partner with NASA in all 50 states and the good-paying jobs they are creating. It's a signal of support for our missions in a new era of exploration and discovery," Nelson said. As per the proposed budget, USD 7.6 billion have been allocated for deep space exploration. Through Artemis missions, NASA will land the first woman and person of colour on the lunar surface, deepen the US' scientific understanding of the Moon, and test technologies that will prepare for human exploration of Mars. About $4.7 billion is for Common Exploration Systems Development to support lunar missions which includes funding for the Orion spacecraft and Space Launch System (SLS). The budget's $1.5 billion for astronaut Moon landers will enable NASA to increase competition in the development of the final mode of transportation needed to take astronauts to the lunar surface. With $2.4 billion allocated for Earth-observing satellites and related research, the budget will increase NASA's Earth science funding for climate and weather monitoring and measurement. NASA also aims to support commercial space activities. The budget's $1.4 billion for space technology research and development will support new technologies to help the US commercial space industry grow, enhance mission capabilities, create good-paying jobs, and reduce costs. About $970 million has been allocated for aeronautics research. This includes $500 million to reduce aviation's climate impact through efforts including a Sustainable Flight National Partnership to develop a next-generation passenger aircraft. With $150 million for the Office of STEM Engagement for education and engagement activities, this budget would allow NASA to enhance its support for educational activities, including those that focus on historically underserved communities. (With inputs from agencies)

White House proposes budget of USD 26 billion for NASA in 2023 

Amid the ongoing chip shortage worldwide, The U.S. Senate has approved a $52 billion chips bill. The chip shortage has disrupted production.

U.S. Senate approves $52 billion chips bill to curb chip shortage woes

Wealthy Americans may have to shell out more soon as the World's largest economy unveiled a minimum income tax for billionaires. It is a part of President Joe Biden's budget proposal for the current year.

U.S. President Biden's budget blueprint for 2023: Biden proposes a 20% tax on the rich

U.S. President Biden's budget blueprint for 2023: Higher taxes on the rich, lower deficits

Wealthy Americans may have to shell out more soon as the World's largest economy today unveils a minimum income tax for billionaires. It is a part of President Joe Biden's budget proposal for the current year.

The fight to tax the super-rich, Joe Biden to unveil new budget proposals

US President Joe Biden's administration will include more taxes on the wealthiest Americans in its 2023 budget proposal, due to be released on Monday, US media reported Saturday.

The "Billionaire Minimum Income Tax" would require the 700 or so American households worth more than $100 million to pay at least 20 percent on their full income, the Washington Post and other US media reported, citing a&nbsp;White&nbsp;House document.

"This minimum tax would make sure that the wealthiest Americans no longer pay a tax rate lower than teachers and firefighters," said the document, cited by the Post.

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A study by the Biden administration this autumn found that 400 billionaire households paid an average of only 8.2 percent in taxes on their income between 2010 and 2018, a rate often well below that of many American households.

The tax would also target unrealized gains in the value of liquid assets, such as stocks, which are not taxed until they are sold.

The new measure, which requires congressional approval to be enacted, could raise up to $360 billion in new revenue over ten years, the document cited by the Post said.&nbsp;

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A longstanding goal of the political left, the plan could dramatically change the tax paid by US billionaires.&nbsp;

Tech titan Elon Musk would, for example, have to pay an additional $50 billion in taxes, and Amazon founder Jeff Bezos some $35 billion more, according to calculations by University of California Berkeley economist Gabriel Zucman, cited by the Post.

Watch |&nbsp;Joe Biden delivers remarks from Warsaw, says Putin is strangling democracy &amp; World order

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US President Joe Biden's administration will include more taxes on the wealthiest Americans in its 2023 budget proposal, due to be released on Monday, US media reported Saturday.

US President Joe Biden's administration will include more taxes on the wealthiest Americans in its 2023 budget proposal, due to be released on Monday, US media reported Saturday. The "Billionaire Minimum Income Tax" would require the 700 or so American households worth more than $100 million to pay at least 20 percent on their full income, the Washington Post and other US media reported, citing a White House document. "This minimum tax would make sure that the wealthiest Americans no longer pay a tax rate lower than teachers and firefighters," said the document, cited by the Post. Also read | Russian people, are not our enemy, US President Joe Biden says A study by the Biden administration this autumn found that 400 billionaire households paid an average of only 8.2 percent in taxes on their income between 2010 and 2018, a rate often well below that of many American households. The tax would also target unrealized gains in the value of liquid assets, such as stocks, which are not taxed until they are sold. The new measure, which requires congressional approval to be enacted, could raise up to $360 billion in new revenue over ten years, the document cited by the Post said. Also read | US calls for tougher UN Security Council sanctions against North Korea A longstanding goal of the political left, the plan could dramatically change the tax paid by US billionaires. Tech titan Elon Musk would, for example, have to pay an additional $50 billion in taxes, and Amazon founder Jeff Bezos some $35 billion more, according to calculations by University of California Berkeley economist Gabriel Zucman, cited by the Post. Watch | Joe Biden delivers remarks from Warsaw, says Putin is strangling democracy & World order

White House to propose new minimum tax on billionaires: Sources

The Defence Ministry will create a panel with representatives from all three services to monitor its budget spending so that it is fully utilised in time, Defence Minister Rajnath Singh said on Friday.

The government's commitment to reducing imports and modernising armed forces with indigenous technology has been given further impetus in this budget, he said in his speech during a post-budget webinar.

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Singh said he is sure that the Defence Ministry has noted all the valuable suggestions received and deliberated during the webinar and has also drawn an action plan for time-bound implementation of the budget announcements for atmanirbharta (self-reliance) in defence.

"For promoting industry-led research and development (R&amp;D) efforts, I would sanction at least five projects under Make-I during the financial year 2022-23," he mentioned.

Projects under 'Make-I' category involve government funding of 90 per cent, released in a phased manner and based on the progress of the scheme, as per terms agreed between the Ministry of Defence and the vendor.

Singh said, "We would create a monitoring mechanism under Director General-Acquisition, with representatives from all the three services to monitor the budget earmarked, specifically for private industry and startups, so that it is fully utilised."

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He said the Defence Ministry will reform the QA process, so that it is non-intrusive, prevention-based and free from the Inspector-Raj. 
"We would come up with the IDEX-Prime to support projects, requiring support beyond Rs 1.5 crore up to Rs 10 crore. This would help our ever-growing startups in the defence sector," Singh mentioned.

"We have been progressively increasing the capital procurement budget for the domestic industry, with 68 per cent of the capital procurement budget earmarked for 2022-23," he noted.

"I am sure that the domestic industry is fully capable to absorb this enhanced budget. I assure them that the government will continue its pro industry policy initiatives for promoting Make in India with greater zeal," he stated.&nbsp;

The Defence Ministry will create a panel with representatives from all three services to monitor its budget spending so that it is fully utilised in time, Defence Minister Rajnath Singh said on Friday.

The Defence Ministry will create a panel with representatives from all three services to monitor its budget spending so that it is fully utilised in time, Defence Minister Rajnath Singh said on Friday. The government's commitment to reducing imports and modernising armed forces with indigenous technology has been given further impetus in this budget, he said in his speech during a post-budget webinar. Also read | Jammu & Kashmir: Two terrorists killed in Shopian encounter Singh said he is sure that the Defence Ministry has noted all the valuable suggestions received and deliberated during the webinar and has also drawn an action plan for time-bound implementation of the budget announcements for atmanirbharta (self-reliance) in defence. "For promoting industry-led research and development (R&D) efforts, I would sanction at least five projects under Make-I during the financial year 2022-23," he mentioned. Projects under 'Make-I' category involve government funding of 90 per cent, released in a phased manner and based on the progress of the scheme, as per terms agreed between the Ministry of Defence and the vendor. Singh said, "We would create a monitoring mechanism under Director General-Acquisition, with representatives from all the three services to monitor the budget earmarked, specifically for private industry and startups, so that it is fully utilised." Also read | Rajnath Singh, India's defence minister, tests positive for COVID-19 He said the Defence Ministry will reform the QA process, so that it is non-intrusive, prevention-based and free from the Inspector-Raj. "We would come up with the IDEX-Prime to support projects, requiring support beyond Rs 1.5 crore up to Rs 10 crore. This would help our ever-growing startups in the defence sector," Singh mentioned. "We have been progressively increasing the capital procurement budget for the domestic industry, with 68 per cent of the capital procurement budget earmarked for 2022-23," he noted. "I am sure that the domestic industry is fully capable to absorb this enhanced budget. I assure them that the government will continue its pro industry policy initiatives for promoting Make in India with greater zeal," he stated.

Indian Defence Ministry to create panel to monitor budget

India announced its annual budget yesterday, it has given a blueprint of economy for the next 25 years with key points on four main pillars of development. According to finance minister Nirmala Sitharaman, India is expected to grow at 9.27% in the coming year, here are some of the big announcements in this year's budget.

India Budget 2022: Major announcements from FM Nirmala Sitharaman's speech

"One of the ways in which we want to keep the economic momentum growing is by building infrastructure...this is one of the fastest ways of generating jobs," says India's principal economic advisor Sanjeev Sanyal as he decodes India's Budget 2022.

India Union Budget 2022: India to be world's fastest growing economy, says Sanjeev Sanyal

India's 2022 budget is tailored for the long-term with a focus on climate action, mental health and start-ups. What are the 6 big positives of this budget? Has India moved on from the era of grand populist budgets? Palki Sharma tells you.

Gravitas: India's budget 2022: The hits and misses

In this year's budget, India's Finance Minister Nirmala Sitharaman announced plans to double down on spending commitments. The economy needs a booster shot of bold reforms. Has the budget delivered that? Palki Sharma brings you the top 10 highlights.

Gravitas: Budget 2022: India to spend big to spur growth

Should we expect a big bang budget this time? Sumit Chaturvedi and Gautam Chikermane talks to Suman Bery for in-depth analysis.

Union Budget 2022: All eyes on finance minister Nirmala Sitharaman

In a proposal, the Institute of Chartered Accountants of India (ICAI) has written to the Ministry of Finance of Indian government to hike the annual limit for contribution to Public Provident Fund (PPF) to Rs 3,00,000. &nbsp; &nbsp;

Presently, the limit for the savings component is Rs 1,50,000 under section 80C of the income tax rules. &nbsp;&nbsp;

This comes as the government is going to present the Budget 2022-23 on Tuesday. &nbsp;

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It has also asked the government to increase the maximum limit for deduction under section 80CCF to Rs 3,00,000 from Rs 1,50,000. &nbsp;

The suggestions are a part of a pre-Budget memorandum made by the ICAI. Along with these, the organisation has made various other recommendations. &nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/ahead-of-india-union-budget-2022-sensex-and-nifty-surge-in-early-trade-449412" hreflang="en">Ahead of India Union Budget 2022, Sensex and Nifty surge in early trade</a>

"PPF is used as a means of savings by entrepreneurs and professionals. While the assesses in employment have the compulsion of saving 12% of their salary (with matching contribution from employers), the only safe and tax efficient saving option available for self-employed assesses is PPF. Hence, the suggestion to increase the ceiling of PPF contribution to Rs 3,00,000," said ICAI. &nbsp;&nbsp;

The raise in ceiling of 15-year investment scheme PPF will boost the domestic savings and will have an anti-inflationary impact, ICAI said. &nbsp;

(With inputs from agencies)&nbsp;

In a proposal, the Institute of Chartered Accountants of India (ICAI) has written to the Ministry of Finance of Indian government to hike the annual limit for contribution to Public Provident Fund (PPF) to Rs 3,00,000.

In a proposal, the Institute of Chartered Accountants of India (ICAI) has written to the Ministry of Finance of Indian government to hike the annual limit for contribution to Public Provident Fund (PPF) to Rs 3,00,000. Presently, the limit for the savings component is Rs 1,50,000 under section 80C of the income tax rules. This comes as the government is going to present the Budget 2022-23 on Tuesday. Also Read | LIVE Budget 2022 Updates: Nirmala Sitharaman to begin presentation shortly It has also asked the government to increase the maximum limit for deduction under section 80CCF to Rs 3,00,000 from Rs 1,50,000. The suggestions are a part of a pre-Budget memorandum made by the ICAI. Along with these, the organisation has made various other recommendations. Also Read: Ahead of India Union Budget 2022, Sensex and Nifty surge in early trade "PPF is used as a means of savings by entrepreneurs and professionals. While the assesses in employment have the compulsion of saving 12% of their salary (with matching contribution from employers), the only safe and tax efficient saving option available for self-employed assesses is PPF. Hence, the suggestion to increase the ceiling of PPF contribution to Rs 3,00,000," said ICAI. The raise in ceiling of 15-year investment scheme PPF will boost the domestic savings and will have an anti-inflationary impact, ICAI said. (With inputs from agencies)

Indian Union Budget 2022: ICAI asks government to hike annual limit for contribution to PPF to Rs 3,00,000

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?

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

The Union Budget session of Indian Parliament has kickstarted on Monday with President Ram Nath Kovind's address to the joint sitting of both houses in the Central Hall.

Budget 2022: 'Sabka sath, Sabka Vikas,'  Indian Prez Kovind highlights govt's agenda for growth

As India is just a few days away from the Union Budget, one question that is doing rounds is if the health sector will receive a boost after being tampered by the ongoing pandemic.&nbsp;

An Assocham survey states that the healthcare sector is likely to receive the highest priority in the upcoming budget. Apart from this, MSMEs, energy and infrastructure and technology were also on the priority list.&nbsp;

While health workers played a significant role in fighting the pandemic, the consequences have not been so good as it brought gaps in the public healthcare system.&nbsp;

<a href="https://www.wionews.com/business-economy/indias-budget-2022-important-terms-you-should-know-448628">Also read |&nbsp;India's Budget 2022: Important terms you should know</a>

Nearly 40 per cent of respondents of the survey also noted that Finance Minister Nirmala Sitharaman should reduce the income tax. This will help in boosting private demand and consumption, they believe.&nbsp;

The Finance Minister will be submitting the country's annual financial statement for the year 2022 on February 1. Article 112 of the Indian Constitution states that the Union Budget is a declaration of the government's expected receipts and expenditures for that particular year. It is presented in two parts: the railway budget and the main budget.

The budget session of Parliament will be held in two parts. The first part will be held from January 31 to February 11 and the second part will be held from March 14 to April 8.

(With inputs from agencies)

As India is just a few days away from the Union Budget, one question that is doing rounds is if the health sector will receive a boost after being tampered by the ongoing pandemic.

As India is just a few days away from the Union Budget, one question that is doing rounds is if the health sector will receive a boost after being tampered by the ongoing pandemic. An Assocham survey states that the healthcare sector is likely to receive the highest priority in the upcoming budget. Apart from this, MSMEs, energy and infrastructure and technology were also on the priority list. While health workers played a significant role in fighting the pandemic, the consequences have not been so good as it brought gaps in the public healthcare system. Also read | India's Budget 2022: Important terms you should know Nearly 40 per cent of respondents of the survey also noted that Finance Minister Nirmala Sitharaman should reduce the income tax. This will help in boosting private demand and consumption, they believe. The Finance Minister will be submitting the country's annual financial statement for the year 2022 on February 1. Article 112 of the Indian Constitution states that the Union Budget is a declaration of the government's expected receipts and expenditures for that particular year. It is presented in two parts: the railway budget and the main budget. The budget session of Parliament will be held in two parts. The first part will be held from January 31 to February 11 and the second part will be held from March 14 to April 8. (With inputs from agencies)

Union Budget 2022: Will the healthcare sector see a boost after being tampered by the pandemic?

India's first full-time female finance minister, Nirmala Sitharaman, will be submitting the country's annual financial statement for the year 2022 on February 1. Article 112 of the Indian Constitution states that&nbsp;the Union Budget is a declaration of the government's expected receipts and expenditures for that particular year. It is presented in two parts: the railway budget and the main budget.

The budget session of Parliament will be held in two parts. The first part will be held from January 31 to&nbsp;February 11 and the second part will be held from March 14 to April 8.

The process of budget making is not that simple. Several parts of the government work together to shape this one document which takes months to be prepared. &nbsp;

The creation of the Union Budget is a task which is undertaken by the ministry of finance. A budget division in the department of economic affairs starts the process of formulation. This is done in August-September every year.

As a first step, the budget division sends budget circulars, containing necessary guidelines for the concerned ministries and departments.

<a href="https://www.wionews.com/india-news/what-is-a-union-budget-and-why-is-it-important-to-the-government-of-india-448180">Also read |&nbsp;What is a union budget and why is it important to the government of India?</a>

The field officers then provide details about financial expenditures and receipts of their respective departments during the current and past financial year.&nbsp;

The officers also give out their financial requirements for the coming fiscal year.

Once this data is approved, it is then sent to the concerned ministries. Here, the data is examined again.&nbsp;

After proper examination, the data is sent to the finance ministry.

As a next step, several ministries and departments hold meetings with NITI Aayog, which is the apex public policy think tank of the government of India.&nbsp;

In the meantime, the Department of Economic Affairs and the Department of Revenue meet with various stakeholders - farmers, businessmen, foreign investors and economists.&nbsp;

Once all of this is done, the finance ministry allocates revenues to several administrative ministries. These proposals are also discussed with the Prime Minister.&nbsp;

<a href="https://www.wionews.com/business-economy/indias-union-budget-2022-date-time-where-to-watch-and-key-expectations-447290">Also read |&nbsp;India's Union Budget 2022: Date, time, where to watch and key expectations</a>

The next important step is budget printing. The symbolic 'Halwa Ceremony' marks the beginning of the compilation of budget documents.

As part of the ritual, "halwa,'' an Indian sweet dish, is prepared in a big frying pot and served to the entire staff involved.&nbsp;

Then comes the final step, which is the presentation of the budget.&nbsp;

Before 2016, the budget was presented on the last working day of February, which was changed by former finance minister Arun Jaitley.

The budget session of the Parliament is considered to be the most important event in India. It is not only watched by policy experts and businessmen, but the general people also view it.

India's first full-time female finance minister, Nirmala Sitharaman, will be submitting the country's annual financial statement for the year 2022 on February 1.

India's first full-time female finance minister, Nirmala Sitharaman, will be submitting the country's annual financial statement for the year 2022 on February 1. Article 112 of the Indian Constitution states that the Union Budget is a declaration of the government's expected receipts and expenditures for that particular year. It is presented in two parts: the railway budget and the main budget. The budget session of Parliament will be held in two parts. The first part will be held from January 31 to February 11 and the second part will be held from March 14 to April 8. The process of budget making is not that simple. Several parts of the government work together to shape this one document which takes months to be prepared. The creation of the Union Budget is a task which is undertaken by the ministry of finance. A budget division in the department of economic affairs starts the process of formulation. This is done in August-September every year. As a first step, the budget division sends budget circulars, containing necessary guidelines for the concerned ministries and departments. Also read | What is a union budget and why is it important to the government of India? The field officers then provide details about financial expenditures and receipts of their respective departments during the current and past financial year. The officers also give out their financial requirements for the coming fiscal year. Once this data is approved, it is then sent to the concerned ministries. Here, the data is examined again. After proper examination, the data is sent to the finance ministry. As a next step, several ministries and departments hold meetings with NITI Aayog, which is the apex public policy think tank of the government of India. In the meantime, the Department of Economic Affairs and the Department of Revenue meet with various stakeholders - farmers, businessmen, foreign investors and economists. Once all of this is done, the finance ministry allocates revenues to several administrative ministries. These proposals are also discussed with the Prime Minister. Also read | India's Union Budget 2022: Date, time, where to watch and key expectations The next important step is budget printing. The symbolic 'Halwa Ceremony' marks the beginning of the compilation of budget documents. As part of the ritual, "halwa,'' an Indian sweet dish, is prepared in a big frying pot and served to the entire staff involved. Then comes the final step, which is the presentation of the budget. Before 2016, the budget was presented on the last working day of February, which was changed by former finance minister Arun Jaitley. The budget session of the Parliament is considered to be the most important event in India. It is not only watched by policy experts and businessmen, but the general people also view it.

Union Budget 2022: A detailed insight to how the document is prepared

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

Indian finance minister Nirmala Sitharaman during the Budget 2022 presentation in Parliament announced a plan to boost the defence sector. Here are the key takeaways.

India Union Budget 2022: FM allots 68% capital for defence purchases for domestic sector

Indian finance minister Nirmala Sitharaman took questions from the media after presenting the Union Budget 2022-23 in Parliament along with her team.

Indian finance minister Nirmala Sitharaman briefs media on Union Budget 2022

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

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

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%  

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

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

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

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