TOP 10 HIGHLIGHTS OF BUDGETS 2022
5G ROLLOUT SOON
The government has in Budget 2022 indicated that India is moving towards better internet connectivity with the rollout of 5G spectrum.
More Budget Allocation and Capex Push
The Budget allocation this year has been set at Rs 39.5 lakh crore, which is more than that of the previous year.
Introduction of Digital Currency
The RBI will in FY22-23 launch the Central Bank Digital Currency, which is a centralised digital rupee, Sitharaman said in her Budget 2022 speech.
Tax on Virtual Digital Assets
All virtual digital assets will be taxed at 30 per cent rate, while digital gifting will also be charged per the same rates on the receiver’s end.
Revised ITR Policy
Taxpayers now have a two-year window to correct errors and file a revised income tax return for the relevant assessment year
Sovereign Green Bonds
Sovereign green bonds will be issued issued for mobilizing resources for green infrastructure.
SEZ Act to be Replaced
Special Economic Zones Act will be replaced with a new legislation to enable States to become partners in ‘Development of Enterprise and Service Hubs
Amendments to Insolvency and Bankruptcy Code
Necessary amendments in the Insolvency and Bankruptcy Code would be carried out to enhance the efficacy of the resolution process and facilitate cross border insolvency resolution.
Boost to Railways
As part of the PM Gatishakti Masterplan, 2,000 kilometres of railway network will be brought under Kavach, the finance minister said.
ECLGS Scheme Extended
Budget 2022 considered the hassles faced by the services sector during the pandemic.
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