India’s Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2022-2023 on February 1, 2022, 11:00 AM onwards.
The Budget session kicked off on January 31, 2022 with President Ram Nath Kovind’s address to the both houses. In the budget, the Finance Minister will reveal her fiscal proposals related to the government’s expenditure and revenues, the amount that will be allocated to different sectors for their development, schemes, and much more.
This session will be taking place in two parts – the first part of the session will conclude on 11th February 2022, and the second part, after a month-long break, will begin on 14th March 2022 and conclude on 8th April 2022.
Here, we capture the LIVE updates of what the Union Budget 2022 has to offer:
09:50 AM: Finance Minister Nirmala Sitharaman called on President Ram Nath Kovind before presenting the Union Budget.
10:03 AM: Finance Minister Nirmala Sitharaman reaches the Parliament to present Union Budget 2022.
10:10 AM: Finance Minister Nirmala Sitharaman is using a made-in-India tab to present Union Budget 2022.
10:16 AM: PM Narendra Modi chaired a cabinet meeting ahead of the Budget presentation.
10:19 AM: Sensex goes up by 800 points ahead of Sitharaman’s Budget speech.
10:22 AM: PM Narendra Modi reaches the Parliament for the Union Cabinet meeting.
10:31 AM: ATF prices hiked by 8.5 percent to record levels across the country ahead of Budget, says oil marketing companies.
10:36 AM: PM Narendra Modi’s cabinet meeting has concluded.
10:39 AM: Union Cabinet approves the Budget 2022. Finance Minister Nirmala Sitharaman will present the Budget shortly.
11:02 AM: Finance Minister Nirmala Sitharaman starts the Budget presentation.
11:06 AM: Union Budget 2022 will lay a blueprint for the upcoming 25 years, says Nirmala Sitharaman.
11:12 AM: India to post 9.2% GDP growth, highest among all economies, says FM Nirmala Sitharaman.
11:16 AM: #Infrastructure: Metro systems to be built in an innovative way of financing.
11:17 AM: Production Linked Incentive (PLI) Scheme for achieving #AatmaNirbharBharat received an excellent response, making opportunities for 60 lakh new jobs and additional production of 30 lakh crore during next 5 years: FM Nirmala Sitharaman.
11:22 AM: #Infrastructure: 400 new Vande Bharat Trains to be introduced : FM Nirmala Sitharaman.
11:26 AM: Digital universities to be set up for online with primary focus on ICT using hub and spoke mode : FM Nirmala Sitharaman.
11:27 AM: #MentalHealth: With pandemic bringing to the fore the issues of mental health, a national tele-mental health programme will be launched: FM Nirmala Sitharaman.
11:37 AM: #DigitalPush: E-passports coming in FY 2022-23 for smooth processes: FM Nirmala Sitharaman.
11:46 AM: #Startups: Funds to be allocated to finance startups for Agricultural and rural enterprises: FM
11:57 AM: #RealEstate #Infrastructure: Housing projects allotted Rs. 48,000 Cr for FY 22-23.
11:58 AM: #Infrastructure: FM: Will expand highways by 25,000 Kms in FY 22-23.
11:59 AM: #Infrastructure: ‘Gati Shakti’ master plan for expressways to be formulated this FY: FM Nirmala Sitharaman.
12:01 PM: #Blockchain #AI: Digital rupee to be issued using blockchain and other technologies by RBI starting 2022-23: FM
12:11 PM: #Tax: New tax rule introduced for taxpayers – Taxpayers can file an updated return on payment of taxes within two years, from the end of the relevant assessment year.
12:16 PM: #Tax #NPS: For state govt employees, tax deduction limit to NPS raised from 10% to 14%.
12:17 PM: #Tax: Transfer of any Virtual Digital Asset to be taxed at 30%: FM
12:20 PM: #Tax: Corporate surcharge reduced from 12% to 7%; 1% TDS on payments made on transfer of any digital assets: FM
12:28 PM: #Tax #Startup: Existing tax benefits, which were earlier offered for 3 consecutive years, to be extended by 1 more year for startups.
12:34 PM: Finance Minister Nirmala Sitharaman ends presentation of Union Budget 2022.