{"id":1092,"date":"2022-02-01T02:16:53","date_gmt":"2022-02-01T02:16:53","guid":{"rendered":"https:\/\/www.invest19.com\/blog\/?p=1092"},"modified":"2022-02-10T04:33:46","modified_gmt":"2022-02-10T04:33:46","slug":"highlights-of-the-budget-2022","status":"publish","type":"post","link":"https:\/\/www.invest19.com\/blog\/highlights-of-the-budget-2022\/","title":{"rendered":"Live Budget Commentary 2022"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:40 PM- Close of Budget 2022<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:35 PM- Allocation in renewable energy<\/strong><\/h3>\n\n\n\n<p>The huge increase in\nallocation for renewable energy \u2013 from Rs 15,000 crore to Rs 1 lakh crore \u2013\nwill provide a significant boost to the fiscal capacity of states, and help\nthem catalyze capex via PMGSY, Gati Shakti and TOD<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:28 PM-Gems and Jewellery<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Custom duty on polished gems to 5%<\/li><li>Custom duty on artificial jewellery,\nis reduced to Rs400 per kg on import<\/li><\/ul>\n\n\n\n<br\/>\n<h5 class=\"wp-block-heading\"><strong>12:26 PM- Big Announcement<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Government back funds SIDBI fund of\nfunds have provided scale capital creating a multiplier effect.<\/li><li>&nbsp;Implementation of Ken Betwa Linking project at\nest<\/li><\/ul>\n\n\n\n<br\/>\n<h5 class=\"wp-block-heading\"><strong>12:25 PM- Indirect Taxes<\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>GST revenue is buoyant despite\nPandemic<\/li><li>Gross GST revenue for the Jan 2022-&nbsp; Rs1,40,960 crores<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:20 PM- Manufacturing companies<\/strong><\/h3>\n\n\n\n<p>&nbsp;The govt has announced a concessional 15% income tax\nfor new manufacturing companies, with manufacturing to start before March 31,\n2023<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:15 PM-Virtual Digital Asset<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Income from the transfer of virtual\ndigital assets will be taxed at 30% without any deduction. <\/li><li>Gift of virtual digital assets to be\ntaxed under the hand of the recipient.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:12 PM-<\/strong> <strong>Surcharge on cooperative society<\/strong><\/h3>\n\n\n\n<p>Surcharge on cooperative\nsociety to be reduced 7% from existing 12% having income above Rs1 crore and &nbsp;below 5 crores<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:10 PM- Direct Tax<\/strong><\/h3>\n\n\n\n<p>Provision for the additional\ntax to be filed within 2 years from the actual assessment year, in case of\nmissed out filling of income.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:05 PM- Budget Estimates<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Total expenditure- 39.45 lakh crore<\/li><li>Total receipt other than borrowing-22.84 lakh crores <\/li><li>Fiscal deficit -6.9% of GDP as against 6.8% projected in Budget estimate<\/li><li>In 2o22-23, an estimated fiscal deficit 6.4% of GDP<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:01 PM- Digital Rupee<\/strong><\/h3>\n\n\n\n<p>Digital currency will lead\nto an efficient and cheaper currency system, using blockchain&nbsp;&nbsp; technology managed by RBI<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>12:00 PM- Green Bonds<\/strong><\/h3>\n\n\n\n<p>Sovereign green bond will\nbe issued for mobilizing resources in green infrastructure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:55 AM- Power stocks surge<\/strong><\/h3>\n\n\n\n<p>The finance minister\nannounced the allocation of Rs 1,400 crore for 123 MW hydro &amp; 27 MW solar\nprojects in FY23<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:50 AM- Cross Border Insolvency<\/strong><\/h3>\n\n\n\n<p>FM Sitharaman proposes necessary amendments in IBC structure to promote cross-border insolvency resolutions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:50 AM- Atma Nirbharta in Defence<\/strong><\/h3>\n\n\n\n<p>The\ngovernment is eyeing the promotion of Atma Nirbharta in defense to reduce the\ndependence on imports. <\/p>\n\n\n\n<p>Defense\nR&amp;D will be open up for education, startup, and academia<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:45 AM- AVCG<\/strong><\/h3>\n\n\n\n<p>AVCG promotion task force for animation, visual, and gaming, the task force will be set up to build domestic capacity to meet global and domestic demand.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:42 AM- One nation one registration<\/strong><\/h3>\n\n\n\n<p>One\nnation one registration software for uniform registration across the nation,\nfor registration of deeds and agreements.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:40 AM- Major announcement so far<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>For farmers to\nadopt natural farming, a comprehensive package for the participation of State\ngovernments &amp; MSMEs is to be introduced. <\/li><li>the government has\ndecided to extend the ECGL service for Hospitality services by March 2023 with\nan increased cover of Rs 50,000<\/li><li>&nbsp;Skilling programs will be reoriented<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:35 AM- E-Passport<\/strong><\/h3>\n\n\n\n<p>The\nsystem for the Issuance of E-passport will be rolled out in 2023 to enhance the\nexperience of citizens.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:31 AM- Financial Inclusion<\/strong><\/h3>\n\n\n\n<p><strong>&nbsp;<\/strong>In 2022 hundred percent of Post-Offices will come under the banking system, to improve financial inclusion.<\/p>\n\n\n\n<p>Digital\nbanking, digital payment have grown.&nbsp; 75\ndigital banking units will be set up in 75 district units by scheduled\ncommercial banks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:30 AM- Rabi and Kharif Crop<\/strong><\/h3>\n\n\n\n<p>Procurement\nof wheat in Rabi season 2021-22 and the estimated procurement of paddy in\nKharif season 2021-22 will cover 1208 lakh metric tonnes of wheat &amp; paddy\nfrom 163 lakh farmers and&nbsp;Rs 2.37 lakh crores will be the direct payment\nof MSP value to their accounts.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:25 AM- Education<\/strong><\/h3>\n\n\n\n<p>One\nclass one Tv channel, the program of e- vidya will be expanded from 12- 200 Tv\nchannels. to enhance regional education for classes 1-12.<\/p>\n\n\n\n<p>Digital\nuniversities will be established to provide access to the student with a personalized\nlearning experience. University will be based on a hub and spoke network.\nPrivate universities will collab with the hub and spoke network.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:20 AM- Finance Minister says<\/strong><\/h3>\n\n\n\n<p>Railways will develop\nefficient logistics for small farmers &amp; enterprises<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:16 AM- Finance Minister says<\/strong><\/h3>\n\n\n\n<p>&nbsp;National Highway network will be expanded by 25,000 km\nin 2022-23.&nbsp;Strengthening of health infra, speedy vaccination program\nimplementation, and nationwide resilient response to the current wave of\nCOVID19 pandemic are evident to all.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:15 AM- Finance Minister says<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Kisan drone for &nbsp;Farm &nbsp;assessment<\/li><li>2023, Internation Year\nof Millets<\/li><li>chemical-free\nnatural farming will be promoted<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:10 AM-Finance Minister says<\/strong><\/h3>\n\n\n\n<p>the speed of our\nvaccination campaign has helped greatly<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:10 AM- <\/strong>Finance Minister says<\/h3>\n\n\n\n<p>PLI Scheme In 14 Sectors Has Received Excellent Response &#8216;Make In India&#8217; Can Create 6 Million New Jobs Seek To Lay Foundation For the next 25 Years <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:05 AM- Budget 2022 to lay the foundation of Amrit Kal of next 25 years<\/strong><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>11:00 AM- Finance Minister Presents Budget<\/strong><\/h3>\n\n\n\n<p>Finance starts presenting\nBudget 2022<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>10:55 AM- Market Update<\/strong><\/h3>\n\n\n\n<p>Nifty up by 209.35 points\nat 17.549.20<\/p>\n\n\n\n<p>Sensex up by 719.15 points at 58733.32<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>10:50AM- No more Bahi khata , Budget goes digital<\/strong><\/h3>\n\n\n\n<p>Finance Minister to use &#8220;Made\nin India&#8221; Tablet<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>10:40 AM- Budget copies arrive at Parliament<\/strong><\/h3>\n\n\n\n<p>Ahead of the presentation\nof Union Budget 2022, a truck loaded with budget paper arrives.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>10:37 AM- Fertiliser companies soaring high in the market<\/strong><\/h3>\n\n\n\n<p>Analysts expect fertilizer\nsubsidy to rise to Rs 1.3 lakh crore for 2022-23 from nearly Rs 80,000 crore in\nthe previous year.<\/p>\n\n\n\n<p><strong>10:30 AM- Covid 19 vaccine outlay<\/strong><\/p>\n\n\n\n<p>In the 2021 budget government allotted Rs35000 crores towards the covid vaccine. As of December 2021, the government has spent Rs19675 crores.<\/p>\n\n\n\n<p><strong>10:15 AM-Will the finance Minister make way for the inclusion\nof Electricity under GST?<\/strong><\/p>\n\n\n\n<p>The industry is in favor of putting electricity under the preview of GST as it will bring the per-unit cost down and benefit the final consumer.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>10:07 AM- Budget need to strike a balance<\/strong><\/h3>\n\n\n\n<p>&nbsp;Prashant Jain of HDFC AMC\nto CNBC TV-18, Budget 2022 needs to strike a balance between fiscal deficit and\nrural incentives. <strong><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>9:45 AM- Longest Budget Speech<\/strong><\/h3>\n\n\n\n<p><strong>Fact: &nbsp;<\/strong>Nirmala\nSithraman hold the record of delivering the longest budget speech of 2 hours 45\nminutes&nbsp; on 1st Feb 2021<strong> <\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>9:30 Am-Markets open strong<\/strong><\/h3>\n\n\n\n<p>Nifty and Sensex gain 1.03% and 1.16% respectively, in\nthe early hours of trade. Nifty above 17,500<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>9:05 AM- Where to watch Budget Speech<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Sansad Tv<\/li><li>Youtube channel of Sansad Tv&nbsp; (https:\/\/www.youtube.com\/c\/rajyasabhatv)<\/li><li>National Broadcaster Doordarshan<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>8:46 AM- Finance Minister Arrives<\/strong><\/h3>\n\n\n\n<p>Union Finance Minister Nirmala Sitharam arrives at the\nMinistry of Finance<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>8:45 AM- Capital gain tax rate<\/strong><\/h3>\n\n\n\n<p>&nbsp;As per Sorbh &nbsp;Gupta\nof Quantum AMC,&nbsp; any hike in capital\ngains tax rate or new cess could be negative for the market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>8:30 AM- Will there be any relief on income tax?<\/strong><\/h3>\n\n\n\n<p>Fact- Income Tax contributes only 2.5% of Indian GDP<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>7:45 AM<\/strong>&#8211;\n<strong>Economic Survey Highlights<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Growth projection for the next financial\nyear ending on March 2023 is projected at 8-8.5%<\/li><li>The current financial year growth rate is\nprojected at 9.2%<\/li><li>For the Fy22, the industrial sector and a\nservice sector grow at a rate of 11.2% and 8.2%, respectively. The agriculture\nsector is to grow at a rate of 3.9%.<\/li><\/ul>\n<div class='epvc-post-count'><span class='epvc-eye'><\/span>  <span class=\"epvc-count\"> 4,456<\/span><\/div><div class=\"pld-like-dislike-wrap pld-template-1\">\n    <div class=\"pld-like-wrap  pld-common-wrap\">\n    <a href=\"javascript:void(0);\" class=\"pld-like-trigger pld-like-dislike-trigger \" title=\"\" data-post-id=\"1092\" data-trigger-type=\"like\" data-restriction=\"ip\" data-ip-check=\"0\" data-user-check=\"1\">\n                        <i class=\"fas fa-thumbs-up\"><\/i>\n                    <\/a>\n    <span class=\"pld-like-count-wrap pld-count-wrap\">4    <\/span>\n<\/div><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>12:40 PM- Close of Budget 2022 12:35 PM- Allocation in renewable energy The huge increase in allocation for renewable energy \u2013 from Rs 15,000 crore [&hellip;] <span class=\"read-more-link\"><a class=\"read-more\" href=\"https:\/\/www.invest19.com\/blog\/highlights-of-the-budget-2022\/\">Read More<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":1096,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[183,10],"tags":[],"class_list":["post-1092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budget-2022","category-featured"],"_links":{"self":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/1092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/comments?post=1092"}],"version-history":[{"count":73,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/1092\/revisions"}],"predecessor-version":[{"id":1209,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/posts\/1092\/revisions\/1209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/media\/1096"}],"wp:attachment":[{"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/media?parent=1092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/categories?post=1092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.invest19.com\/blog\/wp-json\/wp\/v2\/tags?post=1092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}