Budget 2022 highlights

Budget 2022:

Highlights:
-Fiscal deficit for this fiscal is likely to end up at 6.9% of GDP. Estimated Fiscal deficit for next fiscal is 6.4% of GDP.
-Govt Capital expenditure to climb to 4% of GDP and to an amount of 7.5 Lac Cr.
-Focus is on roads, ports, multimodal logistics and connectivity.
-5G auction to take place in 2023.
-All Villages will also have optical fibre connection by 2025.
-E-Platform for health registry.
-RBI to issue digital currency. All Virtual assets like Crypto Currency will be taxed at 30% along with TDS.
-States can borrow 1 lac Cr over and above their existing provisions if the borrowing is linked to PM’S Gati shakthi mission.
-MSME’S Credit Guarantee scheme extended with additional outlay of Rs 50000Cr for hospitality sector.
-Govt to facilitate corporate exits within 6 months.
-80 Lac new houses under PM awas yojana scheme.
-National highways to expand at 25000 km this year.
-2000 KM of railway network to be brought under Kavach scheme.
-Linking of 5 rivers and additional 3 cr households to be covered under Jal Jeevan scheme.
-To boost clean energy and EV industry, battery policy announced for charging stations.
-68% of Capital expenditure will be earmarked for domestic industry.
-Surcharges on all assets capped at 15%.
-Corrected/ Updated IT can be filed within 2 years.
-All post offices to come under Core banking system.
-Banks to set up 75 Digital banking units in 75 districts
-No relief for middle class income.
Nifty is up 1%, USDINR is at 74.79, 10 Year G-SEV Yield has climbed to 6.85%

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