Budget 2022 / Ten important points of union budget announce by finance minister nirmala sitaraman

Budget 2022 | Finance Minister Nirmala Sitharaman presented the budget on Tuesday. This budget can be seen as an election budget. The people of the middle class expected big announcements from this budget regarding inflation, tax exemption and unemployment. But no big announcement was made regarding inflation and tax exemption. Regarding employment in the country, the Finance Minister definitely said that we have the capacity to provide 60 lakh additional jobs. Will increase infrastructure facilities for 100 years. Apart from this, it has been announced to start digital currency. The government has announced a 30 percent tax on virtual currency. Apart from this, the government will start 5G service this year, connectivity in village-village will be further boosted. Tax payers have definitely got this relief that up to two more years have been given relief in filing ITR. If the mistake is detected, the updated return can be filed by paying tax for two years.

Some relief to taxpayers

In the general budget of the country, Finance Minister Nirmala Sitharaman has made many important announcements for the taxpayers. One of the big announcements is related to updated returns. Now taxpayers will be able to file updated returns for two years from the assessment year if the mistake is detected. Let us inform that taxpayers have not got any relief on the slab of income tax. The income tax return slab remains the same. No direct concession has been given in this. At the same time, no announcement has been made to increase the standard deduction. At the same time, there is no exemption in 80C also.

Middle class again disappointed

The middle class had high hopes about the change in income tax slabs, but it has remained untouched by the budget speech of Finance Minister Nirmala Sitharaman. This was the 7th consecutive budget, in which no change has been made on the income tax slab. Apart from this, no relief has been given regarding deduction.

Self-reliant plan in defense, 5G spectrum auction will be held this year

For Defense Sector, Finance Minister said, 25% of the Defense R&D budget will be opened to industry, startups and academia along with Defense R&D. Private industry will be encouraged to design and develop military platforms and equipment in collaboration with DRDO and other organizations through the SPV model. In defense, 68% of the capital procurement budget will be earmarked for domestic industry in 2022-23 (up from 58% in the previous fiscal).

Big announcement for farmers

In the budget, the Finance Minister said that farmers will be given digital service, a campaign to promote the production of oilseeds will be started. Apart from this, chemical free natural farming will be promoted across the country. Its first phase will be started within a radius of 5 km along the banks of the Ganges. In the current financial year, food grains worth Rs 2.37 lakh crore have been procured from farmers under MSP. The Finance Minister said that we have decided to declare 2023 as the year of coarse grains.

Government will start digital currency

Nirmala Sitharaman said that digital currency will be launched in the new financial year. He told that in the new financial year, the Reserve Bank will launch digital currency. Nirmala Sitharaman told that the launch of digital currency will give a boost to the digital economy. Nirmala Sitharaman told that digital currency will be started using blockchain and other technologies.

Up to 30% off on Virtual Currency

The Finance Minister has made a big announcement in the budget regarding virtual currency. The government will levy 30% tax on income from digital asset transfers. In addition the gift of cryptocurrencies will be taxed at the recipient's end. The loss cannot be set off against any other gain.

Bank-post office distance ended, everything will be digital with money transfer

Finance Minister Nirmala Sitharaman presented the general budget for the second time during the Corona period. During this, he emphasized on digitization of the post office. He told that the post offices will now be completely digital. Finance Minister Nirmala Sitharaman said that 1.5 lakh post offices will have 100 per cent core banking system. Through this, there will be access to accounts through Net Banking, Mobile Banking, ATM. Apart from this, money can be transferred online between post office accounts and bank accounts.

Digital University will open, PM E Vidya will be expanded to 200 channels

Finance Minister Nirmala Sitharaman laid great emphasis on digital education and online learning in the budget in view of the Corona epidemic. He said that there has been a lot of loss of education during the Corona period, so e-content and e-learning will be encouraged. Digital University will be established in the country. PM e Vidya's 'One Class, One TV Channel' program will be expanded from 12 to 200 TV channels. This will enable all the states to provide supplementary education in regional languages ​​from class 1 to 12. National Telemental Health Program will also be started for mental problems.

Acceleration on LIC's IPO, privatization will increase this year

On Tuesday, Finance Minister Nirmala Sitharaman said in her address that work on LIC's IPO is going on at a brisk pace. This year privatization will be further increased. Increasing capital expenditure will boost the country's economic recovery. Earlier this year, the government completed the disinvestment of Air India.

2 lakh crore additional loan to MSME sector

In the General Budget, Finance Minister Nirmala Sitharaman has made many important announcements for Micro, Small and Medium Enterprises (MSMEs). More than 130 lakh MSMEs have been given loans under the Emergency Credit Line Guarantee Scheme. Increase the scope of ECLGS from Rs 50,000 crore to Rs 5 lakh crore