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Writer's pictureCA Umang Jain

Key Highlights of Budget 2022 Simplified

Updated: Feb 10, 2023


Missed budget ? No problem, we are here to inform you the KEY highlights in crux. This goes as follows:


1. IPO of LIC soon

2. Tax on Cryptos and digital asset at 30%

3. RBI to launch digital currency backed by blockchain

4. HUGE FOCUS ON CAPEX

a. A big decision to boost infra growth in India

5. Direct Taxes

a. ITR to be revised for 2years

b. Various reliefs to Cooperatives

i. Reduction in surcharge

ii. Reduction in AMT

c. Parity between State Govt and Central Govt employees

d. Time limit extended for startup

e. And various more

6. Focus on mental Health and digital health

7. Development in housing for all

8. TV channel for each subject for students

9. Post office to be under CBS and provide net banking

10. E-passport to launch

11. 5G auction to be conducted

12. Various changes in IBC

13. To go atmanirbhar in Defense production

14. Interest free loan to state government

15. Focus on PM Gatishakti-infra development

a. Expand NH by 25000km etc

16. Focus on One Station-One Product

17. River linking project

18. Various scheme for farmer

19. Improved land record management

20. Various other changes in GST and costume duties.


These are the key highlights of the budget. The major focus here is on CAPEX spending and infrastructure buildup-which is what exactly needed for India.


Total expenditure planned is Rs. 37.70 lakh crore against the total receipts other than borrowings are estimated at Rs. 22.84 lakh crore, getting a fiscal deficit of 6.4% of GDP.


It is a great budget.


The power, as said by the finance minister, is in the hands of the YOUTH to achieve India to a great high.


Regards

CA Umang Jain

+91 96323-32850


©2023 by caumang.com


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