·&nbsp;India's economic growth&nbsp;estimated at 9.2 percent, the highest among all large economies.<br />''·&nbsp;Latest GDP estimates and key indicators confirm strengthened momentum of India's economic recovery.<br />''·&nbsp;Outlay for Capital expenditure in Union Budget hiked by 35.4 percent.<br />''·&nbsp;Emergency Credit Line Guarantee Scheme (ECLGS) extended up to March 2023. The guarantee cover will be expanded by 50,000 crore rupees.<br />''·&nbsp;Additional credit of 2 lakh crore rupees for MSME to be provided under Credit Guarantee Trust for Micro and Small Enterprises.<br />''·&nbsp;Productivity Linked Incentive in 14 sectors for achieving the vision of AtmaNirbhar Bharat will be strengthened.<br />''·&nbsp;The procurement of wheat and rice from 163 lakh farmers in rabi and kharif seasons 2021-22 has ensured rupees 2.37 lakh crore direct payment of MSP value to their accounts.&nbsp;<br />''·&nbsp;Use of 'Kisan Drones' to be promoted for crop assessment, digitization of land records, spraying of insecticides and nutrients.<br />''·&nbsp;Implementation of the Ken-Betwa Link Project at an estimated cost of 44,605 crore rupees to be taken up.<br />''·&nbsp;Four hundred new-generation Vande Bharat Trains to be developed over the next three years.&nbsp;<br />''·&nbsp;One Station-One product concept to be popularized to help local businesses and supply chains.<br />''·&nbsp;One hundred PM GatiShakti Cargo Terminals for multimodal logistics facilities to be developed during the next three years.<br />''·&nbsp;PM GatiShakti Master Plan for Expressways to be formulated in 2022-23 to facilitate faster movement of people and goods.<br />''·&nbsp;National Highway network to be expanded by 25 thousand kilometres in 2022-23.<br />''·&nbsp;Allocation of 60,000 crore rupees made for&nbsp;<i>Har-Ghar, Nal-Se-Jal</i>&nbsp; to cover 3.8 crore households in 2022-23.<br />''·&nbsp;80 lakh houses to be completed in 2022-23 under PM AwasYojana, both rural and urban.&nbsp;<br />''·&nbsp;A new Vibrant Villages Programme to be launched to cover border villages with sparse population, limited connectivity and less infrastructure.<br />''·&nbsp;Two lakh Aangawadis to be upgraded under the Saksham Anganwadi Mission.<br />''·&nbsp;A new scheme-Prime Minister's Development Initiative for North-East, PM-DevINE to be implemented through North-Eastern Council.<br />''·&nbsp;One class-one TV channel' programme of PM eVIDYA to be expanded from 12 to 200 TV channels.<br />''·&nbsp;A Digital University to be established to provide access to students across the country for world-class quality universal education.<br />''·&nbsp;Government to set up 75 Digital Banking Units (DBUs) in 75 districts of the country by Scheduled Commercial Banks.<br />''·&nbsp;100 per cent of post offices to be brought under core-banking system.<br />''·&nbsp;Digital Rupee, using blockchain and other technologies to be issued by RBI from 2022-23.<br />''·&nbsp;E-Passports using embedded chip and futuristic technology to be rolled out in 2022-23.<br />''·&nbsp;Auction of spectrum for rollout of 5G mobile services to be taken up in 2022.<br />''·&nbsp;Additional 19,500 crore rupees allotted under PLI scheme to give a fillip to domestic manufacturing in solar power.<br />''·&nbsp;Revised Fiscal Deficit during current year is estimated at 6.9 percent.<br />''·&nbsp;New provision introduced for taxpayers to file an Updated Return<b>&nbsp;</b>on payment of additional tax.&nbsp;<br />''·&nbsp;Alternate Minimum Tax for cooperative societies reduced from 18.5 to 15 per cent.<br />''·&nbsp;Last date for Tax incentive for Start-ups extended by one year from 31st March 2023.<br />''·&nbsp;Customs duty on cut and polished diamonds and gemstones is being reduced to 5 per cent.<br />''·&nbsp;Customs duty exemption given to steel scrap last year is being extended for another year.<br />''·&nbsp;Outlay for the 'Scheme for Financial Assistance to States for Capital Investment' is being enhanced from 10,000 crore in the Budget Estimates to 15,000 crore rupees.&nbsp;<br />''·&nbsp;Virtual digital asset to be taxed at the rate of 30 per cent.<br />''<span style="color: #222222;">·&nbsp;Surcharge on long term capital gains arising on transfer of any type of assets to be capped at 15 per cent.&nbsp;</span><br />
News On AIR | February 1, 2022 2:12 PM
Highlights of Union Budget 2022-23