Budget 2022

Key allocation from union budget 2022

1. Budget -2022 Name –ankit sharda Youtube channel name – agro learning ( ankitsharda )

2. Hosted by – smt. Nirmala Sitharaman

3. Finance minister NIRMALA SITHARAMAN replace the age –old briefcase which used to carry the budget speech to the parliament with a Hindustani ‘’ bahi khata ’ She is also the first female finance minister to present the maximum budgets (4 th time ) Date of budget speech – 1 feb 2022

4. Announcements Start-Ups will be promoted to facilitate Drone Shakti in all states, required process for skilling will be started. PM development initiatives for North East to be implemented to fund infrastructure and social developmental projects. FM: Public issue of LIC is expected shortly. Ease of Doing business 2.0 and Ease of Living will be launched Over 25k compliances and 1486 union laws were repealed for minimum government and maximum governance Single window portal for all green clearances and helped reduce the time required for approval. . The scope of this portal will be expanded. IRDAI has given the framework for issue of surety bonds by insurance companies Additional credit for MSME of Rs 2 lakh crore

5. DEFICIT/EXPENDITURE Proposes fiscal deficit of 4.5% of GDP by 2025/26 Projects fiscal deficit of 6.4% of GDP in 2022/23 Revised fiscal deficit for 2021/22 at 6.9% of GDP Total expenditure In 2022/23 seen at 39.45 trillion rupees States will be allowed 4% fiscal deficit to GDP in FY23 50 year interest free loans over and above normal borrowing allocated to states

6. INFRASTRUCTURE 5G spectrum auctions to be conducted in 2022 Scheme for design-led manufacturing for 5G will be part of production-linked scheme To award contracts to lay optical fibre in rural areas, completion in 2025 480 billion rupees set aside for affordable housing in 2022/23 To allocate additional 195 billion rupees for production-linked incentives towards solar equipment manufacturing Rs 60,000 crore allocated to cover 3.8 crore households for tap water. 100% of 1.5 lakh Post Offices to come on core banking system to enable inter-operability and financial inclusion It is proposed to set up 75 digital banking units in 75 districts by scheduled commercial banks To enable affordable broadband services, 5% of annual collections under universal service obligations to provide R&D and commercialisation of communication facilities.

7. TAXATION   Import duty on certain chemicals are being reduced Customs duty exemption on steel scrap to be extended for another year for small- and medium-sized businesses Customs duty on stainless steel, flat products, high steel bars to be revoked Unblended fuel to get additional duty of 2 rupees per litre from October 2022 No change in personal income tax slab

8. Agriculture sector 2.37 lakh crore direct payment of MSP value to163 lakh farmer to their account Chemical free natural farming on a 5km wide corridor along river Ganga will be promoted States will be asked to revive agriculture universities Start-Up funding arrangement for agriculture tech start up Use of kisan drone to aid farmers Delivery of digital and hi-tech services to farmers in PPP mode. Funds with blended capital to finance agriculture start –up (NABARD) Domestic scheme introduced to reduce dependence on oilseed imports Implementation of ken – betwa link project (45606 crore ) benefits to 9.1 lakh hactar farm land and providing drinking water to 62 lakh people

9. DIGITAL CURRENCY To launch digital rupee using blockchain technology starting 2022/23 To launch scheme for taxation of virtual digital assets Losses from sale of virtual digital assets cannot be offset against other income Income from virtual digital assets to be taxed at 30% Virtual digital assets It is proposed that transfer of any virtual digital asset shall be taxed at 30%.Further, loss cannot be set off against any other income Gifting of virtual assets will be taxed at the hands of the recipient. TDS of 1% too for virtual digital asset

10. Key allocation from union budget 2022 MINISTRY OF COMMUNICATIONS 1.05 lakh cr MINISTRY OF CHEMICALS ANDFERTILISERS 1.08 lakh cr MINISTRY OF AGRICULTURE ANDFARMERS' WELFARE 1.33 lakh cr MINISTRY OF RURAL DEVELOPMENT 1.38 lakh cr MINISTRY OF RAILWAYS 1.40 lakh cr MINISTRY OF HOME AFFAIRSMINISTRY OF ROAD TRANSPORT ANDHIGHWAYS 1.99 lakhcr MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION 2.18 lakh cr MINISTRY OF DEFENCE 5.25 lakh cr

11. Education sector 'One class, one TV channel' program of PM eVIDYA will be expanded from 12 to 200 TV channels. This will enable all states to provide supplementary education in regional languages for classes 1 to 12’ Digital University to be developed and launched with an aim to provide access to world class quality education to the students Skilling programs will be reoriented. For skilling, upskilling & reskilling of our youth, Digital DESH e-portal will be launched Quality e content to be made through various means. teachers to be trained to use better e teaching outcomes

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13. Thanku Any question Mail Id [email protected] Linkedin id - https://www.linkedin.com/in/ankit-sharda