union budget of india 2022

budget, stock market, union budget of india
union budget of India 2022


 Expenditure - The government proposes to spend Rs 39,44,909 crore in 2022-23. This is 4.6% more than the previous budget. The total expenditure in 2021-22 is estimated to be 8.2% more than the budget estimate.

Receipts - Rs 22,83,713 crore is expected to be received in 2022-23.

GDP- The GDP growth rate is estimated to be 11.1% in 2022-23.

Deficit - The revenue deficit is estimated to be 3.8% of GDP in 2022-23. which is less than the revised estimate.

After many years, the budget has not depended on the national debt.

Ministry Allocation- The highest increase has been made in the Ministry of Communications (93%). 52% in Road Transport and Highways, and 25% in Ministry of Jal Shakti.

Income Tax - No change in income tax rates.

Long Term Capital Gain - Presently surcharge on equity is 15% on Mutual Fund. If the income is between 2 crores to 5 crores then it will be 25%.

Tax on digital assets - All digital transactions like cryptocurrencies will be taxed at the rate of 30%.

Co-operative Societies - Tax for co-operative societies has been reduced from 18.5% to 15%.

For cooperative societies whose total income is one crore to ten crores, it has been reduced from 12% to 7%.

Changes in Customs Duty - Customs duty has been changed on more than 500 items. Customs duty exemption has also been given on many items.

The Reserve Bank of India Act 1934 is being amended to issue digital currency.

MSME - Emergency Credit Line Guarantee Scheme has been extended till March 2023 and its guarantee cover has been increased from 50000 crores to 5 lakh crores.

Health and Nutrition - Under Ayushman Bharat Digital Mission, there is a big opportunity for national digital health.

A digital ecosystem e-portal has been launched for Labor and Employment - Skill and Livelihood.

This portal will help the citizens of the country to learn skills and find jobs.

Infrastructure - Projects of National Infrastructure Logistics Infrastructure, Pipelines, and Transport have been brought.

One lakh crore rupees will be given to promote investors in the states.

Roadways - The master plan for the expressway will be prepared in 2022-23. The National Highway will be extended to 25000 km.

Railways - One Station One Product concept will be implemented to increase the business and supply.

Telecom - 5G spectrum will be auctioned for communication service in 2022-23.

Energy and Environment - Battery swap policy will be implemented for electric vehicles. Coal gasification and conversion of coal into chemicals will be set up for the industry.

States and Union Territories will be given Rs 16,11,781 crore.

Estimated to increase by 0.9% over revised spending.

Indirect tax collection is estimated to be 1330000 crore rupees, in which the government is estimated to raise 780000 crores from GST.

Corporation Tax - The collection from tax on companies is expected to increase by 13% to Rs.720000 crores.

For defense, the central government will spend 13.3% of the total budget i.e. Rs 525166 crore.

The government will spend 105222 crores on fertilizer subsidies.

The expenditure on petroleum subsidy is estimated to decline by 10.8% to Rs 5813.

The expenditure on other subsidies will be 31% less than the previous budget in various government schemes, support schemes for agricultural produce, and aid to states for procurement.

The Central GST Compensation Cess is expected to come at 15%.

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