In the second year of the COVID-19 epidemic, Finance Minister Nirmala Sitharaman delivered the Union Budget 2022 today. “We work hard to build the essential habitat for the middle class. This Budget 2022 aims to establish the groundwork for Amrit Kal from India 75 to India 100 “Today, Ms Sitharaman stated. This was also the sixth Budget session held since the epidemic began in January 2020.
The government did not adjust the income tax brackets. Among the major announcements is a 30% tax on the transfer of digital assets.
The government has budgetary space to spend money on asset development. And keep the economy on track for another year of world-beating 8 percent-8.5 percent growth.
Other key budget figures to watch for include projected increases in tax collections, dividends from the central bank. And state-owned enterprises, any changes in import levies as part of the government’s plan to boost manufacturing, and allocations for subsidies, particularly for fertilizer manufacturers.
Markets and investors will be watching the budget intently for any movement on a proposal to put India’s debt in global indexes, which is dependent on a tax break for foreign investors. They’d also be looking for hints about the government’s position on the use and regulation of crypto assets.