India’s economic growth in FY22 to be at 9.2 per cent, highest among all large economies, said FM in her address. India in a strong position to withstand challenges due to higher vaccinations, she added.

 

-Income from virtual digital assets to be taxed at 30%

 

-Income from transfer of digital assets to be charged 30% tax, plus 1% tax on the transaction

 

-To launch digital rupee using blockchain technology starting 2022/23

 

-To launch a scheme for the taxation of virtual digital assets

 

Losses from the sale of virtual digital assets cannot be offset against other income

 

To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year: FM Nirmala Sitharaman

 

Corporate surcharge to be reduced from 12% to 7%, says Finance Minister Nirmala Sitharaman  

 

Income from Long Term Capital Gains will be taxed at 15%

 

Capital Expenditure to increase 35.4% from ₹5.54 lakh crore to 7.50 lakh crore

 

Spectrum auctions this year to enable 5G roll out by 2023

Required spectrum auctions will be conducted in 2022, to facilitate the roll-out of 5G mobile services by private telecom players, says Sitharaman

 

 

Effective capital expenditure of the Central government is estimated at Rs 10.68 lakh crore in 2022-23, about 4.1% of GDP: FM Nirmala Sitharaman 

 

 

Digital rupee to be issued using blockchain and other technologies and will be issued by RBI starting 2022-23. This will give a big boost to the economy: FM Nirmala Sitharaman

 

India's growth is estimated to be at 9.2%, the highest among all large economies; we are now in a strong position to withstand challenges, says FM

 

Issuance of E-passports will be rolled out in 2022-23 to enhance convenience for citizens. Ease of business 2.0 will be launched.

 

 

For classes 1 to 12, 1 class 1 Tv channel will be extended from 12 to 12,000 TV channels, announced Nirmala Sitharaman, considering the loss of the education system due to the pandemic.

 

68% of the capital procurement budget for Defence to be earmarked for domestic industry

68% of the capital procurement budget for Defence to be earmarked for domestic industry to promote Aatmanirbharta and reduce dependence on imports. This is up from the 58% last fiscal: FM Nirmala Sitharaman

 

 

Implementation of the Ken Betwa Linking project at an estimated cost of Rs 44,605 crore to be taken up with irrigation benefits to 9 lakh hectare farmland, drinking water to 62 lakh people, 103 MW hydropower and 27 MW solar power generation: Nirmala Sitharaman

 

 

For 2022-23, an allocation of Rs 1 lakh crore has been made to assist the states in catalysing overall investments in the economy. These 50-year interest-free loans are over and above normal borrowings allowed to states. It'll be used for PM Gati Shakti-related and other productive capital investments of states: FM

 

 

Rs 48,000 crores allocated for completion of construction of 80 lakh houses under PM Awas Yojana in rural and urban areas in the year 2022-23

 

To facilitate domestic manufacturing of 280 gigawatts of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for PLI for manufacturing of high-efficiency modules with priority to fully integrate manufacturing units to solar PV modules will be made: FM

 

 

Both Centre and States govt employees' tax deduction limit to be increased from 10% to 14% to help the social security benefits of state government employees and bring them at par with the Central govt employees

 

Customs on polished diamonds, gemstones cut to 5%. Simply sawn diamonds will be exempted. To facilitate the export of jewellery through e-commerce, simplified regulations will be in place by June this year

 

The gross GST collections for January 2022 are Rs 1,40,986 crore —the highest since the inception of the tax: Finance Minister Nirmala

 

 

400 new-generation Vande Bharat trains with higher efficiency and better facilities for passengers will be developed in the next three years