Budget, 2022

Download/Fine Print Analysis of Budget 2022

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 Union Budget 2022-23 is a direction setting budget aimed at making India future ready – Shri Piyush Goyal
 Enhanced capital spending in the Budget will have 3-4 times multiplier effect on the economy: Union Minister Piyush Goyal
 SUMMARY OF UNION BUDGET 2022-23
 HIGHLIGHTS OF THE UNION BUDGET 2022-23
 UNION BUDGET PROPOSES TO FORM HIGH-LEVEL COMMITTEE TO REFINE URBAN DEVELOPMENT FOR A PARADIGM CHANGE
 FINANCE MINISTER ANNOUNCES TRUST-BASED GOVERNANCE FOR EASE OF DOING BUSINESS 2.0 WITH ADVENT OF AMRIT KAAL
 RISKS OF CLIMATE CHANGE ARE THE STRONGEST NEGATIVE EXTERNALITIES THAT AFFECT INDIA AND OTHER COUNTRIES: UNION BUDGET 2022-23
 ₹ 60,000 CRORE ALLOCATED FOR ‘HAR GHAR, NAL SE JAL’ SCHEME; 3.8 CRORE HOUSEHOLDS TO BE COVERED
 INTRODUCTION OF CENTRAL BANK DIGITAL CURRENCY ‘DIGITAL RUPEE’ ANNOUNCED
 NEXT PHASE OF EASE OF LIVING TO BE LAUNCHED UNDER AMRIT KAAL : UNION BUDGET 2022-23
 DESIGN-LED MANUFACTURING SCHEME PROPOSED BY BUDGET-2022-23 TO BUILD A STRONG ECOSYSTEM FOR 5G
 A NEW SCHEME, PRIME MINISTER’S DEVELOPMENT INITIATIVE FOR NORTH EAST ‘PM-DevINE’ ANNOUNCED; ₹ 1500 CRORE ALLOCATED
 GOVERNMENT TO CONTRIBUTE FOR R&D IN SUNRISE OPPORTUNITIES, IN ADDITION TO EFFORTS OF COLLABORATION AMONG ACADEMIA, INDUSTRY AND PUBLIC INSTITUTIONS
 ‘HEALTH AND EDUCATION CESS’ NOT ALLOWED AS BUSINESS EXPENDITURE
 TECHNOLOGY TAKES CENTRE-STAGE IN HEALTH BUDGET
 CUSTOMS ADMINISTRATION TO BE FULLY IT DRIVEN IN SEZs
 CO-OPERATIVES TO PAY ALTERNATE MINIMUM TAX AND SURCHARGE AT REDUCED RATE OF 15% AND 7% RESPECTIVELY
 DIRECT PAYMENT OF ₹ 2.37 LAKH CRORE MSP VALUE TO 163 LAKH FARMERS FOR WHEAT AND PADDY PROCUREMENT DURING 2021-22
 ₹ 15,000 CRORE OUTLAY FOR THE “SCHEME FOR FINANCIAL ASSISTANCE TO STATES FOR CAPITAL INVESTMENT” IN RE 2021-22
 SHARP INCREASE OF 35.4% IN CAPITAL EXPENDITURE
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Short title and commencement

RATES OF INCOME-TAX

Amendment of section 2.

Amendment of section 2

Amendment of First Schedule.

Amendment of Fourth Schedule.

Amendment of section 16.

Amendment of notification issued under section 20 of Integrated Goods and Services Tax Act, 2017 read with subsections (1) and (3) of section 50, sub-section (12) of section 54 and section 56 of Central…

Amendment of notification issued under section 21 of Union Territory Goods and Services Tax Act read with subsections (1) and (3) of section 50, sub-section (12) of section 54 and section 56 of Central…


Amendment of Seventh Schedule.

01-02-2022 SCHEDULES
FIRST SCHEDULE

01-02-2022 Notes on clauses
Clause 2 read with the First Schedule to the Bill, seeks to specify the rates at which income-tax is to be levied on income chargeable to tax for the assessment year 2022-23.

Clause 4 seeks to amend section 10 of the Income-tax Act relating to incomes not included in total income.

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Budgetary allocations increased for development of Youth & Yuvashakti 
Budget 2022-23: 5 river linking projects on cards after consensus of beneficiary states 
Prime Minister’s Development Initiative for North-East, PM-DevINE 
Budget 2022 explanatory Memorandum to Custom & Excise Notifications 
PM congratulates FM for a ‘people-friendly & progressive Budget’ 
Text of PM’s address on Union Budget 2022-23 
Union Budget will give a big boost to Tourism in country 
Budget 2022 to strengthen Energy Transition journey & fight climate change: Power Minister 
Budget will prove to be a scale-changing budget for Indian economy: Amit Shah 
Raksha Mantri Shri Rajnath Singh terms the Budget as growth oriented 
Futuristic Budget with scientific vision and Start-Up incentives 
Exhaustive Analysis of Proposed Changes vide Finance Bill, 2022 
Single Window Portal Parivesh to be Expanded to Provide Information to Applicants 
Risks of Climate Change Are The Strongest Negative Externalities That Affect India And Other Countries: Union Budget 2022-23 
Taxation of Virtual Digital Assets as introduced in Finance Bill 2022 
Budget 2022: Updates under GST 
Budget 2022: Changes under Customs & Excise  
Budget 2022: Changes under the Income Tax ​ 
Budget 2022: Key changes in Income Tax provisions 
Budget 2022: Key changes in GST ​ 
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Heading 
Budget lowers burden of tax compliance
Section 54 relief extended to 2 residential houses - explained with illustrations
Key Changes proposed in Interim Budget 2019
IT rebate may boost affordable housing
Significant benefits for property sellers
Goyal puts more cash in pockets of middle class
Tax benefits for above Rs 5 lakh income group may be considered next: Goyal
Power Minister calls the Budget as historic, people friendly and forward looking Finance Minister thanks tax payers saying “Your tax pays for the electricity connections to the poor”
MSME Ministry allocated ₹ 7011 Crore in Budget 2019-20
To provide an assured income support to small and marginal farmers Govt. is launching Pradhan Mantri Kisan Samman Nidhi (P.M. Kissan) Budgetary allocation of Agriculture & Farmers Welfare Ministry has been raised by around 2.5 times.
PM's remarks on the Budget 2019-20
The Budget for New India will energise the nation, says PM
Budget empowers all sections of society: PM
Fiscal deficit to be at 3.4% of GDP this year: Goyal
Rs 3 lakh cr recovered from big corporate loan defaulters: FM
Farmers to get ₹ 6,000/yr in 3 installments under Centre funded scheme: FM
Budget 2019: Sensex, Nifty hold on to gains
Other banks to be out of PCA framework soon, says FM
Inflation hidden, unfair tax on poor, middle class; govt broke the back of high prices: Goyal
Interim Budget: Income tax exemption raised, farmers to get cash dole
Union Home Minister, Shri Rajnath Singh hails the Interim Budget as historic
Union Minister of Consumer Affairs, Food and Public Distribution, Shri Ram Vilas Paswan lauds the Budget as a landmark – Sabka Saath Sabka Vikaas Budget which has provision for betterment of all sectors of the economy with a special focus on the social
Total Budget allocation for the WCD Ministry enhanced by ₹ 4856 crores for the year 2019-20 showing an increase of 20% Three-fold increase in Budget for Working Women’s Hostel ₹ 4500 crores increase in Umbrella ICDS Scheme
Rs 1,03,927 allocated to MHA in 2019-20 budget
Fiscal Programme for 2019-20 and beyond
Interim Budget - No tax upto Rs 5 lakh vide Sec 87A benefits
Pradhan Mantri Kisan Samman Nidhi announced to provide assured income support to small and marginal farmers
Interim Budget 2019- No tax on resident individuals having income upto Rs. 5,00,000
Interim BUDGET 2019- Rs. 3000 per month pension for workers of unorganised sector
Budget Speech
Highlights of Interim Budget 2019-20
Download Finance Bill, 2019
Allocation for the North Eastern Areas is being proposed to be increased by 21% to ₹ 58,166 crore in 2019-20 BE over 2018-19 BE: Finance Minister
Higher budget allocation for Space technology
Government to implement recommendations of the Inter-Ministerial Committee that made several recommendations regarding Exploration in Petroleum and Gas sector
BUDGET SUMMARY WITH MAJOR HIGHLIGHTS OF THE INTERIM BUDGET 2019-20
15.56 Crore Loans amounting to ₹ 7,23,000 crore disbursed under Mudra Yojana Government envisages National Programme on 'Artificial Intelligence'
A Committee under Niti Aayog to be set -up to complete task of identifying De-Notified, Nomadic and Semi-Nomadic Communities not yet formally classified
Rs. 1330 Crore provided in the Interim Budget 2019-20 for the Mission for Protection and Empowerment for Women
Government allocates ₹ 64,587 Crore for Railways in 2019-20 Infra allocation for north eastern areas increased by 21% to ₹ 58,166 Crore in 2019-20
Defence budget hiked to ₹ 3,05,296 crore
One Lakh villages to go digital over next five years JAM-DBT – game changers since bank Nationalisation half century ago 34 Crore new bank accounts in last five years under Jan Dhan; Aadhaar reach near Universal Single window clearance for film shoot
Anti-black money measures brought undisclosed income of about ₹ 1.3 Lakh Crore to tax ₹ 6,900 Crore worth Benami assets and ₹ 1600 Crore worth foreign assets attached 18% growth in direct tax collection in Fy 2017-18 Tax base increased by 1.06 Crore peopl
Rationalization of customs duty and procedures to give boost to “Make in India” initiative RFID technology to be used to improve export logistics
Tax collections increased from ₹ 6.38 Lakh Crore in year 2013-14 to almost ₹ 12 Lakh Crore this year 80% growth in tax base; number of returns filed increased from 3.79 crore to 6.85 Crore Within the next 2 years, almost all verification and assessment
GST, the biggest taxation reform, led to increase in tax base, higher collections and ease of trade Rates continuously reduced providing relief of about ₹ 80,000 crore annually to consumers Most items of daily use of poor and middle class now in the 0% or
FM: India now 6th largest economy in the world with high growth Fiscal deficit down to 3.4%; average inflation 4.6% FDI of USD 239 BN in five years Banks recover ₹ 3 Lakh Crores in outstanding loans
Government Unveils vision for the Next Decade
Government takes several measures to strength then msmes Gem platform extended to all CPSES Government undertakings to procure a fixed proportion of materials from women owned SMEs
Highest Ever Growth Of 42% Recorded in Minimum Wages of Labours during last 5 years
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