Budget 2022 Highlights - India

By THOUSIF INC

7 Focus Areas: PM Gati Shakti,  Inclusive Development, Productivity Enhancement, Sunrise Opportunities,  Energy Transition,  Climate Action, Financing of investments.

Customs duty on cut and polished diamonds, gems to be reduced to 5%

Existing tax benefits for startups, which were offered redemption of taxes for three consecutive years, to be extended by one more year.

30% TAX On Cryptocurrency

A taxpayer can file an updated return on payment of taxes within two years from the end of the relevant assessment year.

Digital rupee to be issued by RBI in 2022-23

Capital Expenditure to increase 35.4% from ₹5.54 lakh crore to 7.50 lakh crore

SEZ (Special Economic Zones) will be replaced with new legislation taking states on the board.

68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta.

5G spectrum auctions to be carried out in 022 to enable the launch of services within FY 22-23

E-passports will be issued in 2022-23 to enhance convenience for citizens. In addition, ease of business 2.0 will be launched.

Govt continuously encouraging digital banking. Taking forward, 75 digital banking units will be set up in 75 districts.

Nirmala Sitharaman announced ₹2.37 lakh crore worth of MSP direct payments to wheat and paddy farmers.

National Telehealth Program in Budget 2022.

Digital Education, Digital University - For classes 1 to 12, 1 class 1 Tv channel will be extended from 12 to 12,000 TV channels.

Startups will be promoted to facilitate Drone Shakti to make drone a service. In select ITIs in all states, courses will be started.

400 new-generation Vande Bharat trains with higher efficiency and better facilities for passengers will be developed in the next three years

PM Gati Shakti plan one of the four pillars of growth says FM in her Budget speech. 25,000 km of national highways to be built in 2022-23,

Two parallel tracks for the next 25 years: public investments in infrastructure and a budget that is inclusive and futuristic

India's growth is estimated to be at 9.2%, the highest among all large economies; we are now in a solid position to withstand challenges.

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