Union Budget 2022 Highlights: FM’s Shortest Budget Speech

Union Budget 2022 Highlights: FM’s Shortest Budget Speech

Finance Minister Nirmala Sitaraman began her Budget speech by expressing empathy for those who suffered during COVID-19 pandemic. The finance minister said that India's growth is estimated.

Nirmala Sitaraman is presenting her fourth Union Budget in Parliament in a paperless format just like last year. In a significant move that is believed to have brought cryptocurrencies and non-fungible tokens (NFTs) under a tax net, the finance minister announced a 30 per cent tax on any income from the transfer of virtual digital assets, specifying that no deductions and exemptions will be allowed.

While presenting the Budget, FM Sitharaman said that the country is expected to grow at 9.27 percent and is in a strong position to withstand challenges due to higher vaccinations.

The National Highway network will be expanded by 25,000 kms in 2022-23. PM Gati Shakti will encompass the seven engines for multi-modal connectivity for the states with speedier implementation of development projects through technology to facilitate faster movement of people & goods through Rs 20,000 crore financed by the government to speed up this project.

8 million houses under PM Awas Yojana in 2022-23: FM Sitharaman

Union Finance Minister Nirmala Sitaraman  on Tuesday said that 80 lakh (8 million) houses will be completed for identified beneficiaries of PM Awas Yojna in the next financial year.

Presenting the Union Budget for 2022-23, Sitharaman said, "In 2022-23, eighty lakh houses will be completed for identified eligible beneficiaries of PM Awas Yojna in both rural and urban areas. Rs 48,000 crore is allocated for this purpose."

The Finance Minister further stated that the central government will work with the state government for reduction of time required for all land and construction related approvals for promoting affordable housing for middle class and economically weaker sections in urban areas.

"We shall also work with financial sector, regulators to expand the access to capital along with reduction in cost of intermediaries

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Riya Krishna