- Finance Minister Nirmala Sitharaman presented her fourth Budget for the FY 2022-23 on 1 February 2022 in Parliament.
- India’s economic growth in FY22 is projected 9.2%.
- Income Tax Slabs Unchanged.
- Income from Long Term Capital Gains will be taxed at 15%, Corporate surcharge to be reduced from 12% to 7%.
- Customs on polished diamonds, gemstones cut to 5%. Simply sawn diamonds will be exempted.
- Income from transfer of any virtual digital asset shall be taxed at the rate of 30% plus 1% tax on transaction.
- Digital rupees to be issued using blockchain & other technologies to be issued by RBI starting 2022-23.
- 400 new generation Vande Bharat trains with better efficiency to be brought in, 100 PM Gati Shakti Cargo terminals to be developed during next three years.
- 5G spectrum auction to be conducted in 2022 for rollout of 5G telecom services by private players in FY {2022-23}
- Capital expenditure outlay being stepped up sharply by 35.4% from Rs 5.54 lakh crore in CY to Rs 7.50 lakh crore in 2022-23, Outlay in 2022-23 will be 2.9% of the GDP.
- 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
