Presenting the Union Budget in the Lok Sabha, Finance Minister Nirmala Sitharaman said the virtuous cycle of investment requires public investment to crowd-in private investment.
Prime Minister Narendra Modi on Tuesday said that budget 2022 brings in new hopes and opportunities for the people. It strengthens the economy; it's full of 'more infrastructure, more investment, more growth and more jobs'.
The fiscal deficit or the gap between expenditure and revenue was estimated at 6.8 per cent of the gross domestic product (GDP) in the current financial year ending March 31, 2022.
Nirmala Sitharaman on Tuesday, announced the budget for the financial year 2022-23, highlighting numerous key points including agriculture, 5G, cryptocurrency and much more. Listen to her full speech.
While giving her budget speech in the Indian parliament, Nirmala Sitharaman highlighted that the Union Govt has plans to roll out 5G services in the country in the current financial year.
Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2022-23 and announced that e-passports will be rolled out this year to enhance the convenience for citizens.
To help the MSME sector become more resilient, competitive and efficient, Nirmala Sitharaman said a Raising and Accelerating MSME Performance (programme will be rolled out.
Ahead of the Budget, taxpayers were expecting the announcement of changes in Income Tax slabs and rates.
Finance Minister Nirmala Sitharaman while announcing the annual budget for the financial year 2022-23, said that RBI will be launching India's very own cryptocurrency soon.
Sitharaman, who also made the second paperless budget presentation as she read the speech from a tab, also quoted a verse from Mahabharat's Shanti Parva.
The Gati Shakti - National Master Plan for Multimodal Connectivity was launched by Prime Minister Narendra Modi in October, last year. Gati Shakti -- a digital platform -- aims to bring 16 Ministries including Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects.
Finance Minister Nirmala Sitharaman said considering the constraint space in urban areas for setting up electric vehicles charging stations, a battery swapping policy will be introduced.
Presenting the Union Budget, Sitharaman said that the overall sharp rebound and recovery of the economy is reflective of India's strong resilience.
Sitharaman had replaced her signature 'bahi khata', last year. Today, she opted to carry the documents in a tablet, which was wrapped in a red-coloured cover.
The activities of these start-ups will include inter-area support for farmer-producer organisations (FPOs), machineries for farmers on a rental basis at the farm level and technology including invitee base, Sitharaman said.
Currently, post offices provide savings account services and payments bank services through the India Post Payments Bank.
Sitharaman announced this while presenting the 2022-23 Budget in Parliament. She also said multimodal logistic parks will also be set up in 2022-23.
"ECLGS scheme to be extended till March 2023 and guarantee cover expanded by Rs 50,000 to Rs 5 lakh crore," the finance minister said.
National highways will be extended by 25,000 km during 2022-23, and the PM Gati Shakti for road transport master plan will be finalised in 2022-23, Sitharaman said today.
National Asset Reconstruction Co Ltd (NARCL) has commenced its activity, Sitharaman added.
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