Finance minister Nirmala Sitharaman has presented the Union budget for 2022-23 on Tuesday. During this, she said this budget encourages development. She said, since 2014, our government is engaged in empowering the poor and marginalised people. Nirmala Sitharaman announced that the government will emphasise on organic farming. Apart from this, 60 thousand more houses will be built this year under PM Awas Yojana. Along with this, the government will give employment to 60 lakh people. Let’s know the big announcements of Nirmala Sitharaman ..
Budget highlights
- Corona is battling with the waves. But our economy is booming.
2. India’s economic growth is estimated to be 9.2% in the coming financial year
3. LIC’s IPO is expected soon.
4. 25-year foundation budget 60 lakh new jobs will be created.
5. Five rivers will be connected.
6. Three new schemes will be brought for women power.
7. E-passports will be issued.
8. ATM facilities will be available in post offices.
9. Changes are being made regarding the rules for the registration of new companies. Now the registration of companies will be done faster.
10. After the repeal of 1486 laws, now Ease of Doing Business 2.0 will be launched.
11. Ken Betwa scheme of Rs 44,605 crore will be run. With this, 9.0 lakh hectares of agricultural land will get the benefit of irrigation. Apart from this, drinking water to 62 lakh people and 103 MW hydropower and 27 MW solar power will be generated.
Announcements regarding tax
- No change in the income tax slab
- Correction for two years can be made if there is a mistake in ITR
- Tax exemption for parents of disabled contribution to NPS can be up to 14%
- Tax exemption in employee pension
- 30% tax on earnings through virtual currency
- Corporate surcharge will be reduced from 12% to 7%
- Customs duty on cut and polished diamonds to be reduced to 5%