February 1, 2022 2:12 PM

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Highlights of Union Budget 2022-23

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

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