Budget 2022 Live Updates: No changes in Income Tax, big push for capex

Budget 2022 India Live Updates, FM Nirmala Sitharaman Speech Live Updates: The country is expected to grow by 9.27% ​​in the coming year, said Finance Minister Nirmala Sitharaman.

Union Finance Minister Nirmala Sitharaman presents the Union Budget 2022-23 in the Lok Sabha, at Parliament, in New Delhi, Tuesday, Feb. 1, 2022

Budget 2022 India Live Updates

Live updates for budget 2022: Finance Minister Nirmala Sitharaman said during the presentation of the Union budget that the country is expected to grow by 9.27 percent in the coming year. With a focus on four pillars of development - including development, productivity improvement, energy transition and climate action - the budget gives a blueprint of India's economy at 75 to India at 100, Sitharaman said.

The budget estimates the central government's effective capital expenditure at Rs 10.68 lakh crore in 2022-2023, which represents about 4.1 percent of GDP. The gross GST collections for the month of January 2022 are Rs 1,40,986 crore - the highest since the start of the tax in 2017 - the Minister of Finance said.

In a major push for digital currency, Sitharaman has stated that digital rupees will be issued using blockchain technology by the RBI from 2022-23. This will give a big boost to the economy, the Minister of Finance said. She added that revenue from the transfer of any virtual digital asset would be taxed at a rate of 30 percent.

Budget 2022 Live Updates: Taxpayers can now update I-T returns within 2 years; India is likely to grow at 9.27%; Gati Shakti master plan to make world class infra; PLI scheme to create at least 60 lakh new jobs in 5 years

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