Union Budget 2022 Updates: Prime Minister Narendra Modi praised the 2022 Union Budget as “people-friendly” and “progressive,” saying it gives new energy and power to National economic development pathway, especially in these times when the country is competing against the pandemic.
“This Budget will provide more infrastructure, more investment, more growth, and more jobs,” he stated.
The Prime Minister stated that the youth of India regard this Budget as giving wings to their goals, and also that the focus on newer technologies in all fields is notable and would benefit a broad cross-section of our society.
PM Modi, on the other hand, stated that he will discuss the Budget in depth tomorrow.
After presenting the Union Budget, Finance Minister Nirmala Sitharaman said, the decision was consciously taken not to increase taxes due to the hardship that people have been facing due to the COVID-19 pandamic.
The Union Budget presented by Sitharaman projected a 9.27 per cent growth rate for the coming year.
Including four pillars of development – inclusive development, productivity enhancement, energy transition, and climate action –
the Budget provides a blueprint for the economy from India at 75 to India at 100, Sitharaman said.
The Budget projects that the Central Government’s effective capital spending in 2022-23 will be Rs 10.68 lakh crore, or around 4.1 percent of GDP.
The Finance Minister announced that-The gross GST collection for the month of January 2022 will be Rs 1,40,986 crore,
the highest since the tax’s debut in 2017. In a big push for digital currency-
Sitharaman indicated that the RBI will issue digital rupees using blockchain technology beginning in 2022-23.
According to the Finance Minister, this will provide a significant boost to the economy.
She also stated that income derived from the transfer of almost any digital asset will be taxed at a rate of 30%
