HIGHLIGHTS OF UNION BUDGET 2022-23
*** INDIA TO LAUNCH SOVEREIGN GREEN BONDS. THESE BONDS WILL BE PART OF THE GOVT’S BORROWING PROGRAME IN FY 2023.. THE FUNDS WILL BE USED FOR PROJECTS THAT HELP REDUCE THE CARBON INTENSITY OF THE ECONOMY.
*** DIGITAL CURRENCY USING #BLOCKCHAIN TECHNOLOGY TO BE INTRODUCED BY FY 2022-23. THIS WILL BE REGULATED BY THE RBI.
*** FY 2023 CAPEX TARGET AT 7.5 LACS CRORES VS 5.50 LACS CRORES IN FY 2022 ( 35 % SPIKE)
*** RAILWAYS TO DEVLOP PROJECT FOR MSME AND FARMERS IN FY 23.
*** THE NATIONAL HIGHWAYS NETWORK UNDER THE PM GATI SHAKTI SHALL BE EXPANDED BY 25000 KMS IN FY 2023.
*** CHEMICAL FREE NATURAL FARMING TO BE PROMOTED IN INDIA
*** 400 VANDE BHARAT TRAINS WITH HIGHER EFFICIENCY FOR PASSENGERS WILL BE DEVLOPED INTHE NEXT 3 YEARS
*** DRAFT DRPs FOR 5 RIVERS LINKS HAVE BEEN FINALISED. THE USE OF KISSAN DRONES WILL BE PROMOTED FOR CROP ASSESSMENT, DIGITISATION OF LAND RECORDS, SPRAYING OF INSECTICIDES AND NUTRIENTS.
*** EMERGENCY CREDIT LINE GUARANTEE SCHEME HAS HELPED 130 LAKHS MSMEs MITIGATE THE WORST IMPACT OF THE PANDEMIC. STARTUPS WILL BE PROMOTED TO FACILITATE “DRONE SHAKTI” FOR THE PROMOTION OF DRONE USAGE.
*** RS 60,000/- CRORES ALLOCATED TO COVER 3.8 CRORES HOUSEHOLDS FOR TAPWATER.
*** RS 48000/- CRORES ALLOCATED UNDER THE PM HOUSING FINANCE SCHEME FOR PROJECTS
*** RS 1500 CRORES ALLOCATED FOR DEVELOPMENT IN THE NORTH EAST
*** ISSUANCE OF E-PASSOORTS WITH FUTURISTIC TECH TO BE INTRODUCED IN 2022-23 WITH EMBEDDED CHIP
*** 5G SPECTRUM AUCTIONS TO BE CONDUCTED FY 2022-23
*** ATAMNIRBHAR BHARAT TO SEE 60 LAKH NEW JOBS IN THE NEXT 5 YEARS
*** 68% OF CAPITAL PROCUREMENT BUDGET IN THE DEFENCE WILL BE EARMARKEDD FOR THE DOMESTIC INDUSTRY IN 2022-23.
*** 100 % POST OFFICES WILL BE CONNECTED TO CORE BANING SOLUTIONS UNDER CBS SYSTEM FACILITATING ONLINE TRANSFER, ATM AND OTHER FACILITIES LIKE BANKS.
*** SPECIAL ECONONIC ZONE ACTWILL BE REPLACED WITH A NEW LEGISLATION.
*** CRYPTO INCOME TO BE TAXED @ 30%.
*** FM PROPOSES TDS ON DIGITAL ASSETS TRANSACTIONS. AND LOSSES FROM VIRTUAL DIGITAL ASSETS CAN NOT BE SET OFF.
*** PROPOSES TO PROVIDE THE TAX RELIEF TO PERSONS WITH DISABILITIES
*** UPDATED TAX RETURNS TO LAUNCH NEW UPDATED TAX RETURNS AND THESE RETURNS CAN BE FILED FOR LAST TWO ASSESSEMENT YEAR WITH LATE FINE.
*** CREDIT LINKED GUARANTEE SCHEME EXTENDED TILL MARCH 2023.
*** A DIGITAL UNIVERSITY WILL BE SET UP FOR HIGHER EDUCATION.
*** REDUCED AMT RATES FOR CO-OPERATIVES FROM 18.50 % TO 15%.
*** REDUCED SURCHARGE FOR CO-OPERATIVES WITH TOTAL INCOME OF 1CR TO 10CR.
*** HEALTH AND EDUCATION CESS NOT ALLOWABLE AS BUSINESS EXPENDITURE US/S 37.
*** NO SET OFF OF LOSSES AGAINST UNDISCLOSED INCOME DETECTED DURING SEARCH.
*** CUSTOM DUTY ON UMBRELLA IS 20% NOW.