India's finance minister Nirmala Sitharaman explains why the government announced a 30% tax on cryptocurrencies in Budget 2022, in an exclusive interview with WION's Editor-in-chief Sudhir Chaudhary.

Exclusive: A currency gets the intrinsic value only when the govt issues it, says Nirmala Sitharaman

"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

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

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

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

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

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

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

India’s Finance Minister Nirmala Sitharaman is all set to table the country’s budget at Parliament’s lower house, Lok Sabha, on February 1 at 11 am.

The budget session of Parliament will be held in two parts.

The first part will be held from January 31 till February 11 and the second part will be held from March 14 to April 8.

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 with much curiosity as they get to know which products are going to get cheaper or costlier.

For experts, the budget’s numbers are important to gauge which sectors have gained the government’s priority, but for the people, it is the speech given by the finance minister that matters.

Hence, it becomes all the more important for the government to make the speeches clear and concise in order to convey their message to the voters.

But giving a speech during the session can become an exhaustive event not only for the finance minister but also for the public listening to them.

As surprising as it may sound, India’s budget presentation is notorious for being too long. On an average it takes anywhere between 90 and 120 minutes.

<img alt="India's current finance minister Nirmala Sitharaman" data-entity-type="file" data-entity-uuid="cd50989d-1b38-478d-beb0-a848827e7780" src="//cdn.wionews.com/sites/default/files/inline-images/nirmala.jpeg" />

Nirmala Sitharaman holds the record for longest speech: The present finance minister Nirmala Sitharaman currently holds the record of giving the longest budget speech in the history of independent India.

At 2 hours and 42 minutes, Sitharaman delivered the longest speech while presenting the Union Budget 2020-21 on February 1, 2020.

With two pages still remaining, she had to cut short her speech as she felt unwell. She asked the Speaker to consider the remaining part of the speech as read.

During the course of this speech, she broke her own record — in July 2019, during her maiden speech, Sitharaman spoke for 2 hours and 17 minutes.

<img alt="Jaswant Singh" data-entity-type="file" data-entity-uuid="3dd534b8-1669-4bbd-aaa9-86c97a599eed" src="//cdn.wionews.com/sites/default/files/inline-images/jas.jpg" />

Jaswant Singh spoke for over 2 hours: Before Sitharaman, it was former finance minister Jaswant Singh who held the record for the longest speech in terms of time consumed. His 2003 speech lasted 2 hours and 13 minutes.

The shortest speech consisted of just 800 words: Former finance minister Hirubhai Mulljibhai Patel delivered the shortest budget speech in 1977. It consisted of only 800 words.

<img alt="Manmohan Singh" data-entity-type="file" data-entity-uuid="d44d9ecf-cb7e-418b-a55b-8ecd72bc7180" src="//cdn.wionews.com/sites/default/files/inline-images/manmohan.jpg" />

Manmohan Singh's budget consisted of 18,650 words: In terms of the number of words, former prime minister Manmohan Singh and also the then finance minister in the Narasimha Rao government, delivered the longest budget speech in 1991, which included 18,650 words.

<img alt="R K Shanmukham Chetty " data-entity-type="file" data-entity-uuid="2c13a0b5-8950-4020-9b9c-bcfa3f55f5c7" src="//cdn.wionews.com/sites/default/files/inline-images/fkfkf.jpg" />

The first Union Budget speech by late R K Shanmukham Chetty was the shortest: It had just 39 paragraphs.

(With inputs from agencies)

India’s Finance Minister Nirmala Sitharaman is all set to table the country’s budget at Parliament’s lower house, Lok Sabha, on February 1 at 11 am. The budget session of Parliament will be held in two parts.

India’s Finance Minister Nirmala Sitharaman is all set to table the country’s budget at Parliament’s lower house, Lok Sabha, on February 1 at 11 am. The budget session of Parliament will be held in two parts. The first part will be held from January 31 till February 11 and the second part will be held from March 14 to April 8. 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 with much curiosity as they get to know which products are going to get cheaper or costlier. For experts, the budget’s numbers are important to gauge which sectors have gained the government’s priority, but for the people, it is the speech given by the finance minister that matters. Hence, it becomes all the more important for the government to make the speeches clear and concise in order to convey their message to the voters. But giving a speech during the session can become an exhaustive event not only for the finance minister but also for the public listening to them. As surprising as it may sound, India’s budget presentation is notorious for being too long. On an average it takes anywhere between 90 and 120 minutes. Nirmala Sitharaman holds the record for longest speech: The present finance minister Nirmala Sitharaman currently holds the record of giving the longest budget speech in the history of independent India. At 2 hours and 42 minutes, Sitharaman delivered the longest speech while presenting the Union Budget 2020-21 on February 1, 2020. With two pages still remaining, she had to cut short her speech as she felt unwell. She asked the Speaker to consider the remaining part of the speech as read. During the course of this speech, she broke her own record — in July 2019, during her maiden speech, Sitharaman spoke for 2 hours and 17 minutes. Jaswant Singh spoke for over 2 hours: Before Sitharaman, it was former finance minister Jaswant Singh who held the record for the longest speech in terms of time consumed. His 2003 speech lasted 2 hours and 13 minutes. The shortest speech consisted of just 800 words: Former finance minister Hirubhai Mulljibhai Patel delivered the shortest budget speech in 1977. It consisted of only 800 words. Manmohan Singh's budget consisted of 18,650 words: In terms of the number of words, former prime minister Manmohan Singh and also the then finance minister in the Narasimha Rao government, delivered the longest budget speech in 1991, which included 18,650 words. The first Union Budget speech by late R K Shanmukham Chetty was the shortest: It had just 39 paragraphs. (With inputs from agencies)

How long is the average Indian budget presentation speech?

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

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

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

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

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, on Monday tabled the Economic Survey 2021-22 prepared by Principal Economic Adviser Sanjeev Sanyal, which predicted a GDP growth of 8-8.5% for the upcoming financial year.&nbsp;

The Indian economy is set to grow at 9.2% in the current fiscal year, the survey stated. India's GDP grew by 8.4% in the July-September quarter.

According to the report, which was tabled by Finance Minister Nirmala Sitharaman ahead of the Union Budget for 2022-23, which is scheduled to be presented on Tuesday, all macro indicators indicated that the economy was well positioned to face challenges, aided by pick-ups in farm and industrial output growth. 
 
<a href="https://www.wionews.com/business-economy/economic-survey-2022-updates-indian-president-kovind-highlights-govts-agenda-for-growth-449108">Also read | Economic Survey 2022 updates: Indian President Kovind highlights govt's agenda for growth</a>

India, which is likely to grab the title of the world's fastest-growing major economy from China and maintain it for at least another two years, has the fiscal space to do more to boost the economy.&nbsp;

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<h5>India has once again become one of the fastest growing economies of the world. President Kovind</h5>
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Highlights:

<ul>
	<li data-changed="false" data-paragraphid="17">Economic survey presented in parliament 
	&nbsp;</li>
	<li data-changed="false" data-paragraphid="19">FY 2023 GDP growth is estimated at 8-8.5% 
	&nbsp;</li>
	<li data-changed="false" data-paragraphid="20">FY 22 real GDP growth of 9.2% is possible 
	&nbsp;</li>
	<li>11.8% industrial growth is possible. 
	&nbsp;</li>
	<li>Agriculture sector growth at &nbsp;3.9 % 
	&nbsp;</li>
	<li>Improvements in the supply chain would help growth. 
	&nbsp;</li>
	<li>There will be challenges in the macro economy in FY 23 
	&nbsp;</li>
	<li>Exports will contribute significantly to FY 23 GDP growth 
	&nbsp;</li>
	<li>India has third largest startup ecosystem in the world after US and China.</li>
</ul>

Watch | Budget 2022: 'Sabka sath, Sabka Vikas,' Indian Prez Kovind highlights govt's agenda for growth

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According to the survey, "The projection is based on the assumption that there will be no further debilitating pandemic related economic disruption, the monsoon will be normal, and the withdrawal of global liquidity by major central banks will be orderly." 
 
Watch | PM Narendra Modi addresses media before budget session of parliament commences

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It also depends on oil prices remaining at the $70-$75 per barrel level, as well as global supply chain issues subsiding.

By increasing spending, the budget is expected to prioritise growth over fiscal consolidation.&nbsp;

The budget is presented just days before elections in five states, including the most populous, Uttar Pradesh, which may prompt Sitharaman to promise increased rural expenditure and food and fertiliser subsidies.&nbsp;

(With inputs from agencies)

India's Finance Minister, Nirmala Sitharaman, on Monday tabled the Economic Survey 2021-22 prepared by Principal Economic Adviser Sanjeev Sanyal, which predicted a GDP growth of 8-8.

India's Finance Minister, Nirmala Sitharaman, on Monday tabled the Economic Survey 2021-22 prepared by Principal Economic Adviser Sanjeev Sanyal, which predicted a GDP growth of 8-8.5% for the upcoming financial year. The Indian economy is set to grow at 9.2% in the current fiscal year, the survey stated. India's GDP grew by 8.4% in the July-September quarter. According to the report, which was tabled by Finance Minister Nirmala Sitharaman ahead of the Union Budget for 2022-23, which is scheduled to be presented on Tuesday, all macro indicators indicated that the economy was well positioned to face challenges, aided by pick-ups in farm and industrial output growth. Also read | Economic Survey 2022 updates: Indian President Kovind highlights govt's agenda for growth India, which is likely to grab the title of the world's fastest-growing major economy from China and maintain it for at least another two years, has the fiscal space to do more to boost the economy. India has once again become one of the fastest growing economies of the world. President Kovind × Highlights: Economic survey presented in parliament FY 2023 GDP growth is estimated at 8-8.5% FY 22 real GDP growth of 9.2% is possible 11.8% industrial growth is possible. Agriculture sector growth at 3.9 % Improvements in the supply chain would help growth. There will be challenges in the macro economy in FY 23 Exports will contribute significantly to FY 23 GDP growth India has third largest startup ecosystem in the world after US and China. Watch | Budget 2022: 'Sabka sath, Sabka Vikas,' Indian Prez Kovind highlights govt's agenda for growth According to the survey, "The projection is based on the assumption that there will be no further debilitating pandemic related economic disruption, the monsoon will be normal, and the withdrawal of global liquidity by major central banks will be orderly." Watch | PM Narendra Modi addresses media before budget session of parliament commences It also depends on oil prices remaining at the $70-$75 per barrel level, as well as global supply chain issues subsiding. By increasing spending, the budget is expected to prioritise growth over fiscal consolidation. The budget is presented just days before elections in five states, including the most populous, Uttar Pradesh, which may prompt Sitharaman to promise increased rural expenditure and food and fertiliser subsidies. (With inputs from agencies)